The popular altcoin Cardano has undergone several recent advancements for better operationality. The developments could influence ADA prices in the coming days and have given a sense of optimism to the market.
The most recent weekly update from Cardano’s parent company, Input Output Hong Kong, details developments in smart contracts, wallet services, core technology, and other areas.
At the press time, ADA is trading at $0.3735, down over 3.2% as compared to the same time last day.
Cardano Announces New Developments
Bug fixes, new version releases, and advancements in education are the major topics of the most recent developments that Cardano has embarked upon. This includes a few important bug fixes and unique operability. The report released by the parent company also emphasized the advancement of smart contracts. It claimed that version 1.30.0.0 of the Plutus libraries was released by the Plutus team. The corresponding launch considers the implementation of CIP-0122.
Regarding scaling, the platform’s Mithril team has continued to apply the Cardano transfer certification across the networks. The study also mentioned Cardano’s Project Catalyst, which completed Fund12’s community moderating component. In the education section, the education team is working hard to get the lectures ready for next month’s Cardano Developer course.
Will ADA Price Rise In the Future?
ADA prices have seen a good deal of plunge in the past weeks. The token is down approximately 10% in the past seven days. A major reason behind the sloppy trading is the larger weakness in the crypto markets due to a hawkish Fed and a lack of bullish cues. However, today’s news does give some relief and confidence to the investors of the coin.
Based on the most recent Cardano price forecast, it is expected to increase by 5.65% and hit $ 0.393197 by July 22, 2024. As per technical indicators, the current Fear & Greed Index reading is 53 (Neutral), indicating a Bearish attitude.
Over the previous 30 days, Cardano had 12/30 (40%) green days and 6.18% price volatility. Data also indicates that there is widespread bearish sentiment for the price prognosis of Cardano, with 8 technical analysis indicators indicating bullish signs and 24 indicating bearish signals.