An investor's guide to Cardano, which has mysteriously become the No. 3 crypto in the world

Ether, the digital token of the Ethereum blockchain, is the second-largest cryptocurrency in the world by market value.
Jaap Arriens | NurPhoto via Getty Images

The Cardano blockchain's ada token, the third largest cryptocurrency by market capitalization, according to CoinGecko, hit an all-time high Thursday of $3.09, after breaking past $3 on Wednesday.

The surge in demand for the altcoin comes amid renewed interest in NFTs, or nonfungible tokens, and continued enthusiasm for DeFi, or decentralized finance. Both parts of the crypto world build most projects on the Ethereum blockchain, but alternatives including Cardano have become more attractive to developers.

Here's what you need to know about investing in ada and the Cardano network.

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