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Breaking News: XRP Projected To Reach $8 By 2026: Standard Chartered Identifies Two Major Catalysts
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Breaking News: XRP Projected To Reach $8 By 2026: Standard Chartered Identifies Two Major Catalysts

Cardano’s Aggressive Development Activity Will Withstand Bear Assault At $0.3?

Reynaldo Marquez
Reynaldo Marquez
Last Updated: March 8, 2023 7:26 am
2 mins read
Cardano Price

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The crypto market’s rally is losing strength, forcing significant cryptocurrencies, such as Bitcoin, Ethereum, and Cardano, back to their support regions. The latter has been deploying products and development that hint at a longer bullish trend.

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As of this writing, Cardano (ADA) trades at $0.35 with a 5% loss in the last 24 hours. Over the past week, ADA’s price still recorded some profits as the bulls made their stand against a spike in selling pressure.

Cardano ADA ADAUSDT
ADA’s price with minor profits on the daily chart. Source: ADAUSDT Tradingview

Cardano In The Olympus Of Development Activity

Data from research firm Santiment indicates that the Cardano ecosystem is vibrating with development activity. Currently, this blockchain ranks number 3 in the metric, according to the number of commits on the software development platform GitHub.

As seen in the chart below, Cardano’s development activity over the past 30 days records over 330 GitHub commits for the different projects on this blockchain. Only Polkadot and its experimental environment Kusama have seen more development activity, with 441 commits.

Cardano ADA ADAUSDT Chart 2
Cardano is in the top 3 by development activity. Source: Santiment

As the chart above shows, the price of Cardano (ADA) has been moving in tandem with its developments and the general market sentiment. As more developers onboard the blockchain, the ecosystem is more appealing to investors. ADA records a 38% rally over the past 30 days.

In the coming weeks, this blockchain will deploy a new upgrade for its smart contract programming language, Plutus. This update will enable support for the Elliptic Curve Digital Signature Algorithm (ECDSA) and Schnorr.

These new components will allow developers to provide more security and build cross-chain capabilities. Plutus was designed to operate as an easy-to-use and accessible programming language. Thus, people might feel even more incentive to build on this blockchain.

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It remains to be seen if ADA’s price will extend its recent trend and follow its spike in development activity. According to Input Output Global, Cardano’s lead developer company:

This upgrade will bring greater interoperability and secure cross-chain #DApp development to #Cardano, making it easier for developers to work with other blockchains. Developers would otherwise need to spend extra time, effort, and funds to implement ECDSA and Schnorr over the SECP elliptic curves in #Plutus, increasing potential security risks and using an unrealistic amount of resources.

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Reynaldo Marquez
Reynaldo Marquez

Reynaldo Marquez

A literature major, Reynaldo Márquez has been deeply immersed in the crypto industry since 2017. His journey began with translating articles for various crypto news outlets, a role he took on with zeal. In 2018, amidst a challenging market, he embraced his first writing assignment, demonstrating his unwavering commitment to the nascent industry and the promise of change it bears for many people worldwide.
In March 2021, he joined the prestigious crypto news outlet NewsBTC and Bitcoinist, where he not only reported on the latest crypto news but also had the privilege of interviewing some of the industry's most influential figures. A year later, his dedication and hard work were recognized, and he was promoted to Managing Editor, a position he currently holds with pride.
He believes in honesty, good communication, hard work, and the power of cryptocurrency and its potential to transform people's lives, especially those alienated by the legacy financial system. Born in 1992 in Venezuela, Reynaldo is familiar with how governments and central banks can negatively affect people, their everyday lives, and their futures by creating inflation and erasing their hopes for a better future. Thus, like many Venezuelans, he embraced this new technology to help him and his family navigate difficult times.
In another life, Reynaldo would have pursued a career as an investigator, most likely tracking down the origins of the Cyberpunk movement with the publication of William Gibson’s ‘Neuromancer.’ The intersection between fiction and reality, with the materialization of Bitcoin in 2009, would have allowed him to dive deep into the crypto sphere as something more than a financial phenomenon but also a cultural shift in society that was brewing since the XX century, and maybe even sooner, in the XIX century with the publication of Henry David Thoreau’s ‘Civil Disobedience.’
But that’s for another life. In this one, Reynaldo has been trading to improve his trading skills. Since 2023, he has been trying to learn Python to create successful strategies and find ways to execute them. It is a difficult task, which continues to keep him busy today and will most likely continue to keep him busy in the near and long term.
In his free time, he enjoys lifting heavy objects, reading, watching movies, and listening to his favorite music. Some of his favorite authors are Walt Whitman, William Faulkner, Allen Ginsberg, James Baldwin, Raymond Carver, Ray Bradbury, George Orwell, Mario Vargas Llosa, Reinaldo Arenas, Rafael Cadenas, and many others. Lately, he has been primarily interested in reading about dystopic societies, a topic that deeply resonates with the crypto industry.
Since 2023, he has lived in Spain with his wife. He loves the weather, the food, and the people and their culture. They both expect to travel much more within the country they now call home and beyond its border. He hopes to retire with his wife, maybe in a quiet place near a beach, but most likely in a city close to a library and a university with his kids and, hopefully, grandkids.

Disclaimer: The information found on NewsBTC is for educational purposes only. It does not represent the opinions of NewsBTC on whether to buy, sell or hold any investments and naturally investing carries risks. You are advised to conduct your own research before making any investment decisions. Use information provided on this website entirely at your own risk.

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Reason to trust

Strict editorial policy that focuses on accuracy, relevance, and impartiality
Created by industry experts and meticulously reviewed
The highest standards in reporting and publishing
How Our News is Made

Strict editorial policy that focuses on accuracy, relevance, and impartiality

Ad discliamer

Morbi pretium leo et nisl aliquam mollis. Quisque arcu lorem, ultricies quis pellentesque nec, ullamcorper eu odio.

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Disclaimer: The information found on NewsBTC is for educational purposes only. It does not represent the opinions of NewsBTC on whether to buy, sell or hold any investments and naturally investing carries risks. You are advised to conduct your own research before making any investment decisions. Use information provided on this website entirely at your own risk.

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