Cardano Reaches A Critical Milestone – How ADA Price Will React To It!


Cardano successfully integrated smart contract support into the mainnet with Alonzo hardfork on September 12. Within 24 hours of the Alonzo upgrade, the blockchain reached the milestone of 100 smart contracts. cardano Blockchain founder Charles Hoskinson described this as a success of six years of hard work, adding:

“This upgrade blockchain It is the result of six years of hard work with some of the brightest minds from and beyond. We are now focusing on further developing the platform and driving Cardano adoption by companies and governments.

With this launch, commercialization is in the hands of the system architects as well as the community, and they are already delivering – [ağda] In less than 24 hours, over 100 smart contracts have already been executed.”

Smart contract integration is rated as the most significant upgrade to the third largest blockchain network, and this development positions it to challenge market leaders Ethereum and Polkadot. The blockchain network will now be able to host Dapps and DeFi protocols, even printing NFTs. In addition, the negative reviews that Cardano has received over the years for not having smart contract functionality have made the success of the Alonzo hard fork even sweeter for Cardano supporters.

“You know, it’s pretty easy to win when you’re underestimated and ignored. In fact, it is the greatest gift we can receive…”

Many have even bet against Cardano, claiming that it will not be able to integrate smart contract support in a timely manner. For example, PolymarketQ and Polygon co-founder Sandeep Nailwal lost a bet on Cardano, and now Hoskinson wants payback.

“Looks like another donation is coming.”

Cardano (ADA) Price May Experience Recovery

In the lead up to the hike, the ADA price skyrocketed and just before the last hike, it rallied to its all-time high of $3.10. However, after the market crash on Tuesday, which coincided with the Alonzo upgrade, the price also fell, along with the broader crypto market. ADA is currently trading at $2.45, but technical indicators suggest that ADA may enter another bullish rally as the cryptocurrency market recovers from the recent flash crash.

The latest upgrade will not only make the Cardano network more secure and decentralized, but also make it one of the more scalable products on the market with advanced security features.

Source: Tradingview

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