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Smart Contracts Ready to Launch, Is Cardano Price Massive Rally On Horizon?

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Since the beginning of the month, Cardano Price has more than doubled. The asset appeared to be on its way to $3 after gaining nearly 15% over the course of the week.

Cardanos ADA has been on a tear in the last month, heading for $3. Despite failing to achieve this level, ADA has established new highs, including an all-time high of roughly $2.95. 

Investors have been speculating on whether the cryptocurrency will be able to overtake Ethereum and Bitcoin.

Market support has been robust in the last 24 hours, and despite minor pullbacks during intraday sessions, ADA has achieved big gains, retesting $2.90.

ADA’s buyer support is still strong, therefore with market support, the stock might retest $2.95 once again. At this moment, purchasers must stockpile more ADA in order to drive the price above $3. 

Cardano Smart Contracts On Final Stage

Cardano hosted an edition of Cardano360 on August 26, during which the network’s head of delivery, Nigel Hemsley, indicated that the blockchain would launch the final testnet before the Alonzo hard fork upgrade in mid-September.

The final public testnet before the update is set to go live on September 1, and the launch was approved at a Dev meeting on Friday. Cardano’s chief, Charles Hoskinson, provided an update on Twitter, indicating that everything is green and ready to launch. 

Unlike the Alonzo Purple, the forthcoming testnet will be open to the public and can be utilised by crypto exchanges before the final smart contract deployment, according to Hoskinson. 

Cardano’s smart contract upgrade has been dubbed one of the most significant upgrades, and the bullish frenzy surrounding it has been propelling its price, which is expected to continue after the upgrade.

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Disclaimer : The opinion expressed here is not investment advice – it is provided for informational purposes only. It does not necessarily reflect the opinion of Coinpedia. Every investment and trading involves risk, so you should always perform your own research prior to making decisions. We do not recommend investing money you cannot afford to lose.

Elena R

Elena is an expert in technical analysis and risk management in cryptocurrency market. She has 10+year experience in writing - accordingly she is avid journalists with a passion towards researching new insights coming into crypto erena.

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