Cardano update | Gofrixty Crypto Analysis Expert opinion | May 19, 2021 | 10:15 +05:00 GMT | In contrast to most other major cryptocurrencies, Cardano (ADA) was to a great extent unaffected by Ilon Mask’s tweets to suspend tolerating bitcoin (BTC) as a source to purchase products by Tesla. Indeed, ADA mobilized and resisted for a long time at around $2.1 for the absolute first time.

Why Cardano resisted

Investors around the globe are looking forward to pursuing green products an alternative to Bitcoin (BTC) which has dominated the crypto industry all the time. Keeping in consideration, it is very much clear that ADA is utilizing significantly less energy than the rest of the other major cryptocurrencies as per looking at proof-of-stack (PoS) consensus mechanism of the project.

According to Jessica Walker, Host, who recently cast an episode of BelnCrypto identified that Cardano is very close to meets its recent blockchain smart contracts which have impressed investors to look towards Cardano update closely and the reason most investors are transferring their assets from Etherium (ETH) and Bitcoin (BTC) to invest them in Cardano (ADA).

After a famous Twitter thread by one of the supporters of Cardano family, Mark Cuban, the project got much strength as the thread was about a crypto stalwart and the founder of Cardano Coin (ADA), Charles Hoskinson, also responded to the thread and also aired a video soon after the discussion about the future of Cardano and provided a most recent Cardano update. These projects include as follows.

Cardano’s Alonzo Upgradation & Cardano Update

Though right at the time of writing this article. The latest Cardano update and its price says that it is down by 24% of its 24hours trade and currently it is traded on $1.654 and has a 52.832 Bn market cap which is the 5^th largest in all crypto assets. But the resistance will keep supporting the project. The first reason for this solid resistance is the recent Cardano update of Alonzo upgradation.

Alonzo upgradation was announced in April 2021 and this means that the project will enable support for smart contracts on Cardano by August 2021. This update will contribute to enhancing technology further by providing tools to developers creating business applications including decentralized applications and finance, often known as dApps and DeFi.

The top three smart contracts announced by Cardano includes DeFire, Revuto, and CardStarter. According to Jessica Walker, all three projects have already highly recognized and supported by the existing Cardano community and investors around the globe.

Note: This is not financial advice neither Gofirxty is a financial advisor. You will invest in the basis of your own research, knowledge, and skill. This is just a source of News