• Input Output Global published a weekly development update with the progress made on tests run on the Vasil testnet and devnet. 
  • Cardano’s development activity has picked up the pace, leaving competitors Ethereum, Avalanche and Solana behind. 
  • Analysts have predicted Cardano’s run-up to the $0.55 target in the current uptrend. 

Cardano price is ready to run to the $0.55 level in the current uptrend. Analysts have revealed a bullish outlook. IOG recently published the weekly development update detailing successful tests conducted ahead of the Vasil Hard Fork. 

Cardano ran successful tests ahead of the Vasil Hard Fork

Input Output Global (IOG) published the weekly updates on Cardano development, with details of the tests conducted on the Vasil testnet and devnet. The node, ledger and consensus teams are working on the upcoming release of node v.1.35.2, and the version will bring improvements and bug fixes found in the previous node versions during Vasil testing. 

Weekly development update

Weekly development update 

The Plutus team improved the ledger interoperability around the new cost models. The team worked on testing and documentation improvements. All tests run on the Vasil testnet, and devnet was successful, and the hard fork is on track. 

Cardano hit a new milestone, 1760 days without an outage

In a watershed moment for the Cardano community, the blockchain functioned smoothly, with no outages for 1760 days. Cardano is one of the most actively developed blockchains in the whole industry, with one of the highest numbers of GitHub commits, 350 in June 2022. 

The high pace of development on the Cardano blockchain is tied to the altcoin network's popularity and social dominance. Cardano offers an alternative to developers from the Ethereum ecosystem, a low-cost and efficient alternative with fast transaction processing. 

This makes it a lucrative choice for NFT and dApp developers in the crypto ecosystem. 

Analysts predict Cardano will run up to $0.55

Analysts at FXStreet have evaluated the Cardano price trend and predicted a rally to $0.55 in the current uptrend of the altcoin. Cardano has bullish potential, and the altcoin is ready to wipe its losses from the past few weeks. 

Check this video to find out where Cardano price is headed next. 

 

Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility. The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position of FXStreet nor its advertisers. The author will not be held responsible for information that is found at the end of links posted on this page.

If not otherwise explicitly mentioned in the body of the article, at the time of writing, the author has no position in any stock mentioned in this article and no business relationship with any company mentioned. The author has not received compensation for writing this article, other than from FXStreet.

FXStreet and the author do not provide personalized recommendations. The author makes no representations as to the accuracy, completeness, or suitability of this information. FXStreet and the author will not be liable for any errors, omissions or any losses, injuries or damages arising from this information and its display or use. Errors and omissions excepted.

The author and FXStreet are not registered investment advisors and nothing in this article is intended to be investment advice.

Cryptos feed Join Telegram

Recommended content


Recommended Content

Editors’ Picks

Bitcoin price sees traders balancing on the sharp end of the blade

Bitcoin price sees traders balancing on the sharp end of the blade

Bitcoin price action is slowly but surely trying to move north on price charts as traders try to continue and hold on to the momentum that started on Monday morning.

More Bitcoin News

Litecoin Price Prediction: LTC stalls at a crucial threshold

Litecoin Price Prediction: LTC stalls at a crucial threshold

Litecoin price is trying to find its footing after lifting from support reinforced at $50.50 and topping out at $55.72. This northbound move would have pushed the token out of a narrow-ranging channel. 

More Litecoin News

Dogecoin price and on-chain metrics forecast 35% rally for DOGE

Dogecoin price and on-chain metrics forecast 35% rally for DOGE

Dogecoin price has been stuck trading between two barriers since August 28. The recent attempt to push through the upper limit indicates that DOGE buyers are ready to push it higher. 

More Dogecoin News

Crypto.com price consolidates, forecasting a 22% rally for CRO holders

Crypto.com price consolidates, forecasting a 22% rally for CRO holders

Crypto.com price seems to have undone its breakout gains seen in the last week of September. This downtrend has morphed into a tight consolidation showing no volatility.

More Crypto.com News

Bitcoin: BTC’s Q3 close and what to expect in Q4?

Bitcoin: BTC’s Q3 close and what to expect in Q4?

Bitcoin price has developed a bullish divergence with RSI, hinting at more upside. Despite the optimistic technicals, investors should expect volatile swings before the end of the third quarter of 2022. 

Read full analysis

BTC

ETH

XRP