Crypto Watch - Cardano $ADA Alonzo Update | Price Drops Down
(Photo : Image from Unsplash Website) Crypto Watch - Cardano $ADA Alonzo Update | Price Drops Down

The up-and-coming Cardano blockchain has just successfully finished its Alonzo upgrade on September 12, 2021. Cardano has finally finished integrating their smart contract support on their network.

Cardano Blockchain Alonzo Upgrade

According to Coingape, the long-awaited upgrade is now making the Cardano blockchain smart contract capable of actually opening avenues for a brand new ecosystem that would comprise both Dapps and NFTs. Charles Hoskinson, Cardano founder, recently tweeted out the successful upgrade which now brings a new era to the Cardano or $ADA blockchain.

The Cardano blockchain has reportedly faced multiple hurdles as well as other criticisms for being late and actually taking years to integrate something that is already available on Ethereum, Polkadot, as well as other years now. Critics, in fact, were so confident against Cardano even betting that it would never be able to finally launch a new NFT marketplace or even a Dapp ecosystem.

Polymarket Bets Against Cardano

The crypto-centered news Polymarket, as well as the analytic platform, was included in the first to ever bet that Cardano would not be able to see Smart contracts or even Dapps by the end of the year. This was along with a bet that the price of $ADA would also not be able to touch $3 either and that the platform has actually lost all the bets that are placed against Cardano as of the moment.

Hoskinson has recently taken to Twitter in order to remind the platform to pay to a charity depending on the choice of Hoskinson. Despite the slight bearish activity, investors and traders in Bitfinex remain 98% bullish when it comes to Bitcoin.

Read Also: MoneyGram and Western Union Could Lose $400 Million if Crypto Wallets in El Salvador Start Gaining Traction

Alonzo Upgrade Cardano ATH

The Alonzo smart contract upgrade was actually seen as a key catalyst directly behind the $ADA price surge in the recent run-up to the hard fork. The altcoin's price started to surge as soon as the final upgrade data was announced back in August. $ADA price has surged by a whopping 2.5X in the last 45 days. Monitoring crypto pumps online could also be useful for those trying to understand what coins are popping and how the market is moving.

This has been able to break past the previous ATH of $ADA of $2.47 and just recently set a new ATH reaching $3.10. However, September 2021 has been seen as a bearish month overall as seen on the historical price behaviour of the crypto market and that has actually shown its impact post the bullish first week.

The price of $ADA reportedly slumped to a 3-day low at $2.41 registered to a solid 5.25% decline over the course of the past 24-hours. Ethereum's London Hardfork has just recently paved the way for the prices of Ethereum or $ETH to set new monthly highs. $ADA could also see a similar trend in the course of the coming days as new Dapps and NFTs that are making their way into the whole ecosystem.

Related Article: Former Prosecutor: 'SEC Will Stop at Nothing to Control the Entire Crypto Space' while Threatening Coinbase as Ripple Lawsuit Continues

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Written by Urian B.

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