Cardano’s big update; Will the price of ADA return to above 30 cents?

study time: minutes

The price of Cardano (ADA) has increased by nearly 10% in the last 48 hours to reach the $0.28 range due to the release of exciting news about the progress of a major network update called Ouroboros Leios.

1000 free bitcoin satoshi!

Register now in Erzplus and get 1000 Satoshi Bitcoin as a reward. Instant and no lottery!

Receive an award

This major update, which has been under development for more than two years and has nearly 680,000 lines of code written for it, is supposed to dramatically increase the speed of the Kadano network to 1,000 transactions per second, making it a serious competitor for high-speed networks. Meanwhile, the on-chain data also revealed another important event; Cardano whales have been quietly piling up this altcoin since October last year, right in the middle of market crashes.

From a technical point of view, Cardano is in a huge downtrend and there is no sign of a price reversal yet. However, if demand picks up or buyers return to the market, ADA has the potential to grow to the $0.33-$0.36 range.