Has the knot burst? After weeks of sideways trend, ADA dares to step above the $ 1.3 mark for the first time since the all-time high.
25 days have passed since Cardano (ADA) set its course record at $ 1.48. The jump to the all-time high correlated with ADA’s listing on the US crypto exchange Coinbase Pro. Some investors took the listing as an opportunity to take profits. The Cardano price slipped to a local low of USD 1.07 in the week after the Coinbase listing. The psychologically important mark of one US dollar, which ADA took by storm in mid-February, was not affected. Since the beginning of April, ADA has mainly been moving in the course of the course, but now the tide seems to have turned.
At press time, ADA is trading at $ 1.31. This means that only 11 percent are missing until the all-time high.
One of Cardano’s key value propositions is to become a highly scalable platform for smart contracts. But so far, the network’s smart contract support is still in the early stages. The next important milestone is the launch of the “Alonzo” test network, which is planned for the end of April.
Cardano founder Hoskinson already sees brisk development activity for Alonzo. On April 7th, he said on his YouTube channel:
We have a situation where there are hundreds if not thousands of independent developers, projects, products, commercial migrations, and other things just getting started. And that’s today. So this will only increase over the course of the year, there will be a lot more variety and nuances,
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