Cardano (CCC:ADA-USD) is quickly becoming one of the most popular cryptocurrencies available right now. The network is bringing along one of its biggest upgrades yet, and it’s shattering previous all-time highs this month. Today, the network is opening up the Cardano crypto, ADA, to a whole new audience. There’s a lot to be happy about today if you’re an ADA bull.
Cardano is looking to get into the rapidly growing world of decentralized finance (DeFi). With DeFi capabilities, networks can support applications that allow users to stake their crypto for yields, take out loans, buy NFTs and tons of other things. It is hoping to get a large slice of the DeFi pie with the looming Alonzo Purple upgrade.
The Alonzo Purple upgrade will add smart contracts to the network — the key to supporting DeFi applications. The upgrade, coming in mid-September, is driving a huge amount of hype. In fact, the coin has surpassed previous all-time highs with ease and is eyeing up the $3 milestone.
Cardano Crypto Sees First-Ever Listing on Japanese Exchanges
Also sweetening the crypto for investors is an announcement coming from Cardano crypto developers today. The crypto will be seeing a whole new demographic ready to utilize the network before the big upgrade is slated to happen. Japanese exchange BitPoint is adding ADA to its platform, allowing the Japanese market access to Cardano for the first time ever.
This is an important moment for the coin. It’s obviously good for any crypto to see an entire country’s worth of potential investors open up to it. But Japan is special. Japan has very strict cryptocurrency regulations, and as such, there are very few foreign digital currencies for investors to hold. Not only does ADA now have exposure in the nation, but it has a real chance to dominate the market there.
On the date of publication, Brenden Rearick did not have (either directly or indirectly) any positions in the securities mentioned in this article. The opinions expressed in this article are those of the writer, subject to the InvestorPlace.com Publishing Guidelines.