Cardano approaches ATH, could it hit $3 to $5 post-Alonzo hard fork?

Photo by Executium on UnsplashCardano (ADA) touched $2.17, is it inching to create a new All-Time High?If you have invested in Cardano, you might be happy with the extraordinary performance of ADA over the past three weeks. The currency has more than doubled in value and was positioned at $2.17 at the time of publishing this blog. At this mark, it is all geared to retest its all-time high of $2.46 and set a new record.Since its release in 2015, Cardano has been one of the fastest-growing blockchain assets in the crypto industry and has been in the top 10 by market capitalization.Also Read: Should You Invest In Stablecoins? Are They Really Stable?It was after the blockchain’s chief developer announced a September 12 release date for the ‘Alonzo’ upgrade that Cardano jumped past the $2 mark for the first time in almost three months.The mainnet hard fork will bring smart contract functionality to Cardano, allowing the blockchain to incorporate more apps, including Decentralized Finance (DeFi) platforms. ADA has been termed as ‘Ethereum Killer’ as the upgrade will enable automated cryptocurrency lending and trading. With its smart contract feature, ADA is well-positioned to challenge Ethereum.Adding on to the excitement of those waiting impatiently for the Alonzo upgrade, Cardano’s Head of Delivery, Nigel Hemsley, had shared that ADA’s Alonzo Purple upgrade would take place on 12th September, slightly earlier than what was expected. In a recent Cardano 360 episode on YouTube, Hemsley said, “Once we hard fork the testnet, it gives us this period of stability where we can test it and so can exchanges. We will submit a proposal for a mainnet hard fork and also patch you with our Plutus application backend so we can have a complete smart contract release ready for people to use, ready for the Alonzo…