Is Cardano On The Threshold Of Falling To A 50% Crash? Will This Rollout Make Any Difference?

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The cryptosphere’s sixth-largest continues to be in talks of the industry, which has been since the start of the year. With one or the other events, upgrades, and announcements, Cardano has been holding to the spotlight.

The protocol this time around has been making a buzz, with the announcements regarding improvements of its open-source wallet Daedulus.

Successively, amidst the announcements, upgrades, and overwhelming metrics, the price of Cardano’s native asset ADA fails to catch the wind. And has been trading towards the bottoms closer to its crucial support lines that has engulfed fear amongst traders. A fall from the levels would fuel panic sell-offs.

Will This Event Proffer Solace To Cardano’s Never-Ending Ails? 

The IOHK team has made announcements of the release of an upgraded version of Cardano’s open-source wallet Daedalus. The Daedalus 4.8.0 is live on the mainnet, which integrates the latest version of the Cardano wallet. That supports Cardano’s node v1.33.0, escorting notable performance improvements.

The makers have ensured that the latest upgrade enables computers below 16 GB of RAM to run Cardano node RTS. This is made possible by a new splash screen displayed, which can reduce memory usage.

In contrast, the count of Cardano wallets has exceeded the $3 M milestone. Moreover, as previously reported by CoinPedia, the network had added over 100 smart contracts in mere 2-days.  

On the contrary, despite the upgrades, events, and feat’s of the network, ADA price has remained bland. The digital asset at press time is trading closer to its support levels at $1.07.

The price hovering around the crucial support levels has made way to traders fearing, as a plunge below the levels could open doors to massive panic sell-offs.

Concluding, the upgrades, and the developmental initiatives by the makers is praiseworthy, who have been striving hard to impel the price. We have come across the coders increasing the blocksize to contradict congestions.

And the proposal to increase the memory units of Plutus scripts is also on the cards for the day. Howbeit, the digital asset is in dire need of an impetus to the price, which would now be possible by the collective effort of the community and the team.