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Key Cardano upgrade goes live sending ADA price soaring

Key Cardano upgrade goes live sending ADA price soaring

Amid the widespread financial crisis caused by large banks collapsing, the cryptocurrency market has shown exceptional resilience, and the Cardano (ADA) team has just launched another critical upgrade to its network, helping its cryptocurrency join the rally.

Indeed, the Cardano Node version 1.35.6, the update that mainly relates to the P2P support, delivers dynamic P2P functionality to the Cardano Node, and promises to offer more resilience to the network, was recently launched on the mainnet, according to the team’s GitHub entry from March 16.

As the developers explained:

“Node 1.35.6 is a release adding P2P support without the need of development network protocols when EnableP2P is set to ‘true.’ The legacy topology is still supported as a parallel mode of operation. This release is based on the ‘release/1.35’ branch, so it has no changes not related to P2P included.”

ADA price increase

After the upgrade went live, the price of ADA coin began to race, at press time standing at $0.3439, recording an increase of 4.37% on the day and 10.71% across the previous week, as it reversed the 11.30% losses on its monthly chart, according to the data retrieved on March 17.

Cardano 24-hour price chart. Source: Finbold

The recent price action plays into the crypto community’s bullish predictions regarding the average price of Cardano by the end of March, which currently projects that ADA would be trading at $0.3861 on March 31, 2023, while whales and institutional investors increased their engagement with ADA.

At the same time, the machine learning-based algorithms over at the crypto price tracking and forecast platform PricePredictions are relatively bearish, setting the price of Cardano at $0.342076 by March 31, but the current prediction is still more optimistic than the one reported on March 8, which had set the ADA price at $0.3022.

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