Cardano’s Charles Hoskinson Points Out Two Key Developments To Push ADA Price

Cardano founder Charles Hoskinson on Tuesday pointed out two key developments — Cardano Node 8.1.1 mainnet release and Lace 1.2 wallet upgrade. The two key developments are likely to bring a major boost to the Cardano ecosystem and push the ADA price for upside momentum. The community also committed to improving the Cardano network despite the US SEC crackdown.

Cardano Releases Node 8.1.1 Mainnet and Lace 1.2 Wallet Upgrade

Cardano founder Charles Hoskinson on June 20 shared the release of Cardano Node 8.1.1 mainnet, commenting “moving the chains.” Hoskinson also noted the Lace 1.2 wallet is pushed to production.

The Cardano Node 8.1.1 is mainnet ready and has significant improvements at the epoch transitions. Developers strongly urged all stake pool operators (SPOs) to update to Node 8.1.1. The mainnet upgrade fixes issued related to peer-to-peer network communications and the Cardano-based domain name system.

Moving the chains https://t.co/swsG5oSvx3

— Charles Hoskinson (@IOHK_Charles) June 19, 2023

Moreover, the Lace 1.2 wallet upgrade has introduced several features including NFTs organizing in folders, wallet balance hiding, better wallet balance calculation, and DApp connector. It also has performance improvements for token information requests.

ADA Price Eyes Recovery

ADA price fell from $0.38 to $0.23 after the US SEC referred Cardano (ADA) as security in lawsuits against crypto exchanges Binance and Coinbase. ADA price can likely recover to the resistance level at $0.35 amid key developments from Cardano developers.

ADA price fell 0.50% in the past 24 hours, with the price currently trading at $0.258. The 24-hour low and high are $0.257 and $0.264, respectively. Furthermore, the trading volume has increased by 30% in the past 24 hours, indicating interest among traders.

Also Read: BitMEX Founder Arthur Hayes Reveals When Bitcoin Price Can Start Rally Again

AD

Varinder has 10 years of experience in the Fintech sector, with over 5 years dedicated to blockchain, crypto, and Web3 developments. Being a technology enthusiast and analytical thinker, he has shared his knowledge of disruptive technologies in over 5000+ news, articles, and papers. With CoinGape Media, Varinder believes in the huge potential of these innovative future technologies. He is currently covering all the latest updates and developments in the crypto industry.

The presented content may include the personal opinion of the author and is subject to market condition. Do your market research before investing in cryptocurrencies. The author or the publication does not hold any responsibility for your personal financial loss.