Cardano ADA has already committed more than $ 30 billion to achieve a major milestone in the development of the network. This could lay the foundation for greater acceptance and a more significant increase in the price of the cryptocurrency.
Approximately 71.7% of ADA’s outstanding offering, valued at approximately $ 31 billion at current prices, has been deposited in 2,665 active pools. according to PoolTool data provider. On Thursday, ADA was priced at $ 1.34, up 4%.
With current values, ADA is the fifth largest cryptocurrency by market capitalization.
Cardano remains by far the most heavily capitalized cryptocurrency in terms of staking value. Industry data shows that Ethereum’s staking value ranks second at $ 12.2 billion. Solana, Polkadot and Algorand round off the top 5.
Cardano Staking enables users to generate passive income that is paid in ADA without having to freeze their assets for a period of time. In comparison, other protocols set a minimum lockout period for staking rewards.
Investors remain bullish on the ADA pending the introduction of smart contract features later this summer. As Cointelegraph reported, Input Output Hong Kong, better known as IOHK, launched the Alonzo hard fork in May, paving the way for smart contracts activation, possibly by August.
In a June 11 update that appeared on YouTube, IOHK announced that Alonzo already has the ability to execute smart contracts.