A crypto newcomer is turning in massive gains just days after its initial launch.
CardStarter (CARDS), which brands itself as the ”first insured project accelerator for Cardano (ADA),” is turning heads after skyrocketing from an initial price of $0.159 on March 29th, to a high of $10.2 on April 2nd, representing a surge of 6,315% in a matter of days.
After its initial surge to $5.47 on launch day, CARDS bottomed out at around $2.20 on March 31st and managed to change direction to hit its current peak.
All teams that are working with CardStarter to crowdfund their projects will have to contribute to the CardStarter treasury which will be used to protect those who invest in the participating new projects developed on Cardano’s network.
Charles Hoskinson’s Cardano, at a $39.2 billion valuation, is currently the second-closest to eclipsing the top smart contract platform, Ethereum, by market cap. However, Hoskinson’s platform is neck and neck with the Polkadot (DOT) blockchain which holds a $40.2 billion market cap as of writing.
Cardano is currently the subject of criticism, one being that it does not yet have smart contract capabilities and another being that few developers are announcing plans to build on the blockchain.
Crypto analyst and influencer Lark Davis recently took a look at some of the attacks levied at Cardano of late. Davis notes that while the project is working rather slowly to complete its mission of creating the top blockchain in the space, it may have a good chance at eventually delivering “a powerful and interesting blockchain that will become a big part of the crypto ecosystem.”
CARDS is currently slightly off its all-time high and is trading around $9.23.