A Cardano (ADA) launchpad is skyrocketing in price ahead of smart contract integration on the long-awaited blockchain.
Cardano project accelerator CardStarter (CARDS) is up over 40,000% since launching in mid-April, catapulting from a price of $0.15 at launch to a high of $60.70 on May 11th.
CARDS has retraced since and is trading at $54.19 at time of writing, with a daily trading volume of $10.91 million.
CardStarter offers projects building on Cardano the option to crowdsource early funding from a community of donors on its platform. CARDS holders are guaranteed early allocation to vetted projects that utilize the CardStarter platform.
Similar products exist on other smart contract protocols such as token launchpad DuckSTARTER on Ethereum (ETH) and launchpad BSCPAD on Binance Smart Chain (BSC).
CardStarter is growing fast, ballooning into a $100 million market cap in about a month and a half, according to CoinGecko.
In April, the team behind Cardano, IOHK (Input Output Hong Kong), announced that smart contract functionality, currently a roadblock to deploying projects on Cardano, will launch this August on the blockchain.
Cardano’s ADA token hit an all-time high this week, surpassing the $2.00 mark for the first time. At the time of writing, ADA is valued at $2.14 up 14% in the last 24 hours.