Cardano [ADA] broke into the top-10 after its massive double-digit price surge following a slew of announcements by the Cardano Foundation. The surge also pushed the coin above Tron [TRX] on CoinMarketCap.
For the better part of a week, Cardano rode a bull wave and exhibited a significant 20.43 percent hike in the 7-day window. After the release of the 1.5 mainnet, the coin shot up by a whopping 15.33 percent against the US dollar to become the biggest gainer in the top-20 coins.
The release was part of the concluding stages of the Byron phase of development, including an improved proof of stake protocol. This development will ensure better block storage, the inclusion of the Daedalus wallet for Linux, the Cardano testnet, and an increase of Rust tools and other features within the coin’s ecosystem. Furthermore, this update will not split the community or create a separate virtual currency, even though the update is classified as a “fork.”
The surge also follows the resignation of Michael Parsons, the Cardano Foundation’s former CEO. Charles Hoskinson, the Founder of the foundation had stated that the Cardano community was “waking up” and “getting where it was supposed to go.”
Other factors that may have contributed to the wild surge in Cardano’s prices include the speculation of a possible listing on the crypto exchange, Coinbase and the integration of the Ledger Hardware wallet to the Cardano Network.
The Cardano Foundation also became one of the founding members of the International Association for Trusted Blockchain Application (INATBA). As a member, Cardano will help to further the progress of blockchain technology and cryptocurrency adoption within Europe.
On 16 March, the coin was trading at $0.0501 and shot up by 6.58 percent to $0.0534 in less than 24-hours.