Eternal Memory of Ada Lovelace
Cardano was created in the memory of 19th-century mathematician, Ada Lovelace. The native token is called ADA, while the smallest unit of division is called Lovelace. Cardano was created to solve problems related to scalability and sustainability on cryptocurrency platforms. It is considered to be one of the most environmentally friendly cryptocurrencies.
The Green Blockchain
Charles Hoskinson began the development of Cardano in 2015 and released the blockchain on the 27th of September 2017. It was created as a more energy-efficient alternative to Ethereum. Cardano debuted with a market capitalization of $600 million. By the end of 2017, Cardano’s capitalization had surged close to $20 billion ($19.42 billion on the 31st of December 2017).
Since then the value of the cryptocurrency dropped and the price was mostly hovering below $0.07 until 2020. On the 6th of July 2020 Cardano’s price finally went over the $0.1 mark. ADA hit its all-time high of $2.46 on the 16th of May 2021 (a 4,700% jump compared to exactly 1 year ago). Just 10 days later, Cardano hit another major milestone of 1 million wallets.
Cardano continued to gain more recognition. ADA was included in Grayscale’s Digital Large Cap Fund ($GDLC) with the third-highest allocation of 4.36% on the 1st of July 2021. Thanks to the price of ADA being pulled by the cryptocurrency market rally and upcoming network upgrade, ADA reached its new all-time high of $3.10 on the 2nd of September 2021.
This climate-positive blockchain is well-known for its restoration efforts and being environmentally friendly. Cardano reached its goal of planting 1 million trees on the 9th of January 2022. Cardano has been slowly declining since it hit the new all-time high. However, on the 17th of January 2022, the price rallied more than 15% as the Metaverse arrived at the Cardano blockchain.
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