Price Analysis

Cardano Price Polarizing Well, $2 Appears At The Next Stop!

Highlights

    Cardano price is expected to bounce back soon and regain the lost positions above $2 very soon

    The price which is trending in a channel is expected to break very soon, and hence smashing ATH shortly

Cardano Price Poised To Surge Soon!

Cardano is one of the most valuable decentralized networks in the world, with a market capitalization of more than $50 billion. Emerging as one of the most promising coins ADA price rose up to its all-time high of $2.4 recently before the market crash. It is worth noting that the coin is steadily recovering and currently trading at $1.80.

What’s next for “Ethereum killer”? 

Cardano’s upcoming plans to add smart contracts on their blockchain could render it as useful as Ethereum in terms of functionality. The Cardano team has been working for years to perfect their blockchain, enlisting the help of renowned scientists and developers.

Cardano’s update, Shelley, was released in mid-2020 and achieved network consensus decentralisation. The network was revamped with the launch to a state where the majority of nodes will be managed by the community rather than a centralised group. 

Following Shelley, Goguen, the most recent edition of Cardano, aims to add new blockchain functionalities through a series of hard forks. With the Mary hard fork in March 2021, for example, the team added support for native assets on Cardano. The platform is now moving for a highly awaited hard fork called Alonzo to complete the next phase of the Goguen period. With this update, developers will be able to build intelligent control systems for the first time.

Cardano put in four years of research and development to find the best programming model for smart contracts. What’s even more exciting is that Alonzo is where we’ll be turning it on. Soon, they’ll launch the Pioneer Testnet, which will run for two months before reaching a feature freeze at the end of June. The hard fork and the activation of smart contracts for the mainnet would take around four to six weeks. They’ve also launched the Plutus Pioneer Program, which is training over 1,000 developers interested in creating Cardano-based decentralized applications (dApps). While the date for Alonzo isn’t set yet, it will be scheduled for some time in late July.

It’s worth remembering that, despite the fact that the roadmap is now on track, production is still in its early stages. Although the codes are currently running on Alonzo, “there are several bugs to be patched and reliability to be improved,” as well as several integrations to be completed. In reality, Hoskinson tried to “manage expectations”by implying that Alonzo’s arrival on the mainnet in 90 days isn’t needed.

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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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