Cardano (ADA) Eyes $2.50 as Crypto Exchanges Begin Smart Contract Integration

By Prashant Jha
Published August 17, 2021 Updated August 17, 2021
Best Buy In

Exchanges

Wallet

Cardano

Cardano (ADA) Eyes $2.50 as Crypto Exchanges Begin Smart Contract Integration

By Prashant Jha
Published August 17, 2021 Updated August 17, 2021

Cardano (ADA), the fourth largest cryptocurrency experienced a minor pullback from its 3-month high of $2.25. ADA was trading at $2.08 down by 4% over the past 24-hours. The altcoin closed 6 daily green candles on the back of 65% weekly gains before the minor price slump.

ADA price rise is being attributed to the slew of developments on the Cardano blockchain with Alonzo hard fork. The long-awaited smart contract integration date has been finalized for September 12 and many attribute the gains to the upcoming upgrade.

ADA
Source: TradingView

ADA is just 15% short of its May ATH of $2.46 and market analysts believe Cardano could get past $2.50 by the end of this week to register a new ATH. The altcoin is currently moving in an equilateral pattern on the one-hour chart and breakout upwards from the pattern can very well propel it to new ATHs above $2.50.

Six Crypto Exchanges Begin Smart Contract Integration Upgrade

Input-Output, the research, and development company behind Cardano blockchain gave an update on Alonzo Purple testnet and the smart contract integration. The firm said Alonzo Purple testnet now has 250+ participants while also assuring to resolve the sync issues faced by some users.

The team also released Plutus “mainnet candidate” that will be passed to the next level of testing on Alam, Dorin, and Q&A testing.

“Today, we released the Plutus ‘mainnet candidate’ to the node team, who are now hard at work integrating this to their own Node final release candidate. This version will next be passed to Alan, Dorin & the QA testing team.”

Crypto exchanges have begun the upgrade for smart contract integration and as per the update, six crypto exchanges are currently engaged with the CF-led integration team. The anticipation around the major update has been a primary reason for the ADA’s price surge and the altcoin might achieve a new ATH before the final upgrade integrates on the mainnet in the second week of September.

 

advertisement

Disclaimer
The presented content may include the personal opinion of the author and is subject to market condition. Do your market research before investing in cryptocurrencies. The author or the publication does not hold any responsibility for your personal financial loss.
About Author
Prashant Jha
1277 Articles
An engineering graduate, Prashant focuses on UK and Indian markets. As a crypto-journalist, his interests lie in blockchain technology adoption across emerging economies.

Loading Next Story