Cardano Price Prediction and Analysis: Testnet Launched, New wallet updates and positive price movements. ADA going up! Wednesday, May 30
You can learn more about what is Cardano and how to get it in our TokenTops tutorial about this project, which is a part of introductory articles about various cryptocurrencies.
Important Cardano News
ADA offline storage
Cardano has been very active lately when it comes to various updates and software developments. They have launched a test net of KEVM and also released Cardano 1.2. They announced: "Paper wallets launched for Cardano: Announcing Daedalus 0.10.0 and Cardano 1.2.0 release," which added a feature of creating paper wallet cold storage very easily. A 27-word recovery phrase is added to the wallet inclusive of automatic printing on the certificate for the first 18 words and the remaining 9 words hand-written by the users. Daedalus update allows such wallets then to be restored again and used online. A developer, Vantuz explains: "The main difference from having it stored in Daedalus is that the paper-wallets are “cold” which means the secret keys are not stored on a computer."
KEVM Test Net
Cardano Foundation has announced that: "The KEVM smart contracts testnet has been launched! Developers will be able to take any application that runs on the EVM and execute it on the KEVM - This is a necessary step towards the promise of third-generation blockchains". The test of this system is very important, as the developers believe that: "Smart contracts must be formally verified, so they run exactly as specified and are free from bugs or flaws. Only then can they be widely adopted as financial infrastructure that can be relied upon by billions of people". The release of the KEVM testnet is a vital milestone towards the next big step of launching the IELE product. When everything is ready, Cardano will introduce a new Virtual Machine.
ADA Price Analysis
ADA price has been relatively stable in last days, fluctuating around $0.2 region. It was mainly affected by BTC price movement, therefore the general direction was rather downwards. It's worth noting that at the beginning of May, while the whole cryptocurrency market was experiencing huge gains, ADA reached almost $0.4.
Currently, partially due to Bitcoin's recovery, but also probably because of the successful tests of KEVM and new wallet updates, ADA raised in value significantly. The price jumped from $0.17 up to $0.218 only within hours and is still going confidently further.
ADA/USD Price Chart, Wednesday May 30:
During the ATHs, Cardano token was able to surpass $1 mark, reaching even as much as $1.33. Therefore, current $0.2 price region seems like a real bargain considering that there is a chance that the whole cryptocurrency market will come back to such highs, but also Cardano as a project itself managed to develop significantly since then. Many experts estimate the technology to be worth around $10 in next years and a region of $5 could be a safe bet and realistic target to achieve within a year. The developers are undoubtedly working very hard to deliver new features and updates.
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