Will This Latest Development Take Cardano (ADA) Price Past $1?
Cardano recently announced the launch of Aiken, which is a smart contract language and toolchain whose primary purpose is to facilitate the simplification and improvement of the smart contract process for its fair use on the blockchain. In minutes following the news, the price of Cardano (ADA) witnessed a significant uptick as it recorded gains of 0.56% at the time of writing.
Aiken To Simplify Smart Contracts
Aiken’s primary goal is to simplify the use of Haskell Plutus platform which is considered to be cumbersome and challenging to use with other languages for off-chain code as developers fail to work with their usual tools & languages.
Read More: Apple Grants Rare Approval To This DeFi Protocol; More Crypto Apps To Follow?
Aiken makes use of the research conducted by IOG on Plutus. In turn, it is compatible with other systems, emphasizes on-chain code, and makes it easier to integrate with any off-chain infrastructure stack. According to the announcement, the Aiken team will conduct additional audits to make certain that the tool satisfies the requirements that are expected of an enterprise-grade toolkit. In addition, it will focus on early developers and the input they provide in order to shape Aiken before it is released on the mainnet.
Cardano (ADA) Price Reaction
In light of this information, both the ADA community and the larger cryptocurrency market have reacted positively to the announcement. market participants are of the opinion that this may eventually result in a bullish scenario for the ADA token as it sees more impending utility.
As things currently stand, the price of ADA is exchanging hands at $0.43, which represents a gain of 5.11% over the past 24 hours in contrast to an increase of 9.06% recorded over the last seven days.
Also Read: New York Court Sends Civil Subpoena To Justin Sun; Gets 21 Days Ultimatum
- Bitcoin Edges Higher as Fed Chair Jerome Powell Fails to Comment on Monetary Policy
- Flare Network Surpasses $43M in Bridged XRP, Expert Predicts Breakout to New ATH
- Bitcoin, Ethereum Drag Broader Crypto Market Lower Ahead of FED Powell Speech
- Breaking: Ripple Partners With Bahrain’s Fintech Bay in Push for RLUSD Adoption
- XRP News: Why Whales Sold 440M Coins in a Month Despite ETF Launch Buzz
- Solana Price Prediction as SOL DAT Company Plans 5% Supply Acquisition—Analyst Targets $1,300 Breakout
- Bitcoin Price Prediction as US Govt. Shutdown Extends- What’s Next for BTC?
- Solana Price Megaphone Points to a Parabolic Move as SOL Treasuries Near $3B
- XRP Price Prediction Amid ETF Approval Roadblock as Analyst Warns of $2.72 Dip
- Binance Coin Price Prediction If It Surpasses Bitcoin Marketcap— Is $3000 Possible in 2025?
- ASTER vs HYPE Price Analysis – Which Perp DEX Token Looks Poised to Dominate Q4 Performance?
Why Trust CoinGape
CoinGape has covered the cryptocurrency industry since 2017, aiming to provide informative insights Read more…to our readers. Our journal analysts bring years of experience in market analysis and blockchain technology to ensure factual accuracy and balanced reporting. By following our Editorial Policy, our writers verify every source, fact-check each story, rely on reputable sources, and attribute quotes and media correctly. We also follow a rigorous Review Methodology when evaluating exchanges and tools. From emerging blockchain projects and coin launches to industry events and technical developments, we cover all facets of the digital asset space with unwavering commitment to timely, relevant information.
