![](\"https:\/\/cryptoglobe.s3.eu-west-2.amazonaws.com\/2021\/03\/adausd-1280x619.png\")
<\/p>\nBillionaire investor Mike Novogratz has shown interest in the fourth-largest cryptocurrency by market capitalization, Cardano (ADA), amid its ongoing price rally that saw it surpass the $1 mark after growing over 500% this year.<\/p>\n
On Twitter, Novogratz asked his over 200,000 followers if any of them could make a \u201crel bull case for ADA,\u201d following the question up with whether anyone is building on it, using it, or why its market capitalization is as high as it currently is.<\/p>\n
Cardano founder Charles Hoskinson responded to Novogratz\u2019 tweet, saying he would be happy to chat with the investor. Novogratz is a well-known cryptocurrency investor and was one of the first Wall Street analysts to embraced the cryptocurrency space.<\/p>\n
He founded Galaxy Digital in 2018, a digital asset merchant bank that offers multiple services including asset management, advisory services for businesses, trading, and principal investing in companies. Earlier this year, he revealed he expects the U.S. Securities and Exchange Commission (SEC) to approve a Bitcoin ETF within 12 months.<\/p>\n
Novogratz\u2019 questions about Cardano\u2019s ADA come as retail interest for the cryptocurrency hits a new all-time high amid an ongoing price rally that has seen ADA\u2019s price move up over 500% year-to-date, going from $0.18 at the beginning of the year to $1.16 at press time.<\/p>\n
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ADA\u2019s price has been going up thanks to vital developments in the project. Hoskinson has hinted new partnerships and integrations with major industry names are coming. On top of that Cardano\u2019s long-awaited \u201cMary\u201d protocol upgrade went live this week. The upgrade enhanced the cryptoasset\u2019s security while enabling multi-asset combability in the network, as well as the development of decentralized applications.<\/p>\n
ADA\u2019s price rise may have also been aided by whales buying up the cryptocurrency. As CryptoGlobe reported, Dubai-based cryptocurrency investment fund FD7 Ventures has announced it\u2019s selling $750 million worth of bitcoin to\u00a0increase its positions in Cardano and Polkadot.<\/p>\n
Last month Gene Simmons, the iconic bass player of the popular rock bank Kiss, announced he has\u00a0invested $300,000 into Cardano\u00a0(ADA), shortly after announcing positions in other cryptocurrencies including BTC, ETH, and DOGE.<\/p>\n
Featured image via Pixabay.<\/p>\n