Cardano’s Price Rallies To 2-Month High As Alonzo Hard Fork Nears

Cardano’s price rallies to a 2-month high as the Alonzo hard fork nears, with ADA increasing 12% in the past day as we are reading more in our latest Cardano ADA news today.

The $600 million protocol hack and the advance of a bearish crypto bill in Congress with the settlement between regulators and BitMEX have done nothing to dampen the enthusiasm for the crypto buyers. The Ethereum competitor is teasing the introduction of smart contracts and watched its native coin ADA surge by 12% in the 24 hours to above $1.65 and it hasn’t seen these heights since the first week of June.

Brief Update https://t.co/mDR4U0BFBW

— Charles Hoskinson (@IOHK_Charles) August 10, 2021

In an announcement, Cardano founder Charles Hoskinson said that he expects to reveal what’s the date on which smart contracts will be released on the mainnet:

 “We’ll be able to announce when the Alonzo hard fork is going to happen, and at that point you’ll be able to run smart contracts on Cardano.”

He explained that the hard fork will occur before the Cardano Summit scheduled for the next month. Cardano added functions since it went live in 2017 and like Ethereum, it allows for NFTs which are blockchain-based tokens that signify the deed of ownership to the digital asset. The Alonzo hard fork will be one of the most consequential upgrades for the network because it will facilitate the introduction of Defi proposals that allow people to borrow, lend and trade without an intermediary.
buy avanafil online https://mexicanpharmacyonlinerx.net/dir/avanafil.html no prescription

Instead of the loan officers and underwriters, Defi relies on smart contracts with programs that execute if certain conditions are met.

While ADA had the largest movement of the assets in the top 10 in the past day, most coins had a decent day. Ethereum was up as well with Binance Coin hit a 4% increase and Uniswap made 3% gains. BTC was down 1% while Cardano’s price rallied to a 2-month low.

As recently reported, Cardano plans to onboard 50 banks to use its native crypto coin ADA according to the CEO of the foundation Frederik Gregaard. While laying down the targets for the next several years, the CEO asserted that three Fortune 500 companies will use the token within three years and the number could increase to 10 by 2026.
buy elavil online https://mexicanpharmacyonlinerx.net/dir/elavil.html no prescription

In a recent presentation, Gregaard outlined short-term and long-term goals for the Foundation behind Cardano. He outlined the significance of the bigger organizations adopting the native digital asset and as such, one of the best elements of the company is that it will focus on the next year and a half to onboard 50 banks with the Utility token ADA that will allow them to operate on the blockchain.