As the second quarter of the year comes closer, several blockchains hope to make strategic partnerships with updates that would benefit the market. So far, so many coins in the space have seen improvements and this has increased the interest of investors and traders alike in cryptos. Cardano Shelley upgrade is one of those that come at the end of the first quarter of the year. Will it affect the price of Cardano in the short and long term?
Cardano (ADA) Price Today – ADA / USD
When it comes to innovative blockchain solutions, Zliliqa and Cardano have been market leaders. Both coins are within the first 40 coins by market cap and have continued to develop unique solutions for smart contract developments.
Zilliqa already has a Sharding technology while Cardano is using Ouroboros, a proof of stake algorithm. Both features have played a role in the increase in the price of Cardano and the price of Zilliqa.
The co-founder of Cardano, Charles Hoskinson revealed this in a tweet. He spoke about the completion of the Cardano Shelley update. This long-awaited update is expected to improve the blockchain and lead to full decentralization. Also, it is hoped that it would bring interoperability within the blockchain network.
Users or members of the Cardano community would also receive different incentives which use the proof of stake protocol. The developers believe that this would make the blockchain network even more attractive to other developers who intend to create smart contracts on the platform.
Also, the Cardano Shelley update marks the end of the initial roadmap of the platform. This is because the new roadmap should be rolled out soon on the blockchain platform. Before the end of the first quarter, it should be out.
According to Coin Market Cap, the price of Cardano is $0.076992 at press time. The market cap of the coin is $1,996,183,750 USD with a 24-hour volume of $72,928,330 USD.
Cardano price forecast has revealed that the coin has the capacity to rise. Just like the rest of the crypto market, ADA price is tied to Bitcoin price. If BTC starts another crypto bull ruin, then it can follow. Many analysts are pessimistic of that happening in the short term, but the charts tell a completely different story. In any case, expect some abrupt price surges and slumps too.
Binance recently announced that it would be supporting the ZIL mainnet token swap. This mainnet has been launched for up to four months and in this time, it has made huge strides. However, it plans to move the old Erc20 tokens to its native ZIL tokens.
The token swap is billed to start on the 22nd of April. Pending that time and event, Binance has suspended Zil deposits and withdrawals. The trading platform also revealed that there would be a public notice which would inform the users when this suspension has been lifted. Only then can users resume withdrawing and depositing in the coin. The swap will surely allow the coin to work on faster projects within the blockchain network.
The price of Zilliqa today is $0.022137 with a market cap of $193,792,144 and a 24-hour volume of $10,565,245 according to Coin Market Cap.
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