The Cardano (ADA) blockchain released, on October 13, its weekly development report highlighting the evolution of its ecosystem.
Progress report updates include the release of Lace v.1.6; advances in Plutus Core, Marlowe and Hydra technologies; the introduction of GovTool in SanchoNet.
“This week, the networking team focused on reviewing the functionality of bootstrap peers and investigating the performance of typed protocols. The performance and tracking team continued benchmarking UTXO-HD, performed benchmarks for the new tracking system, and developed strategies for future benchmarks of Plutus v3 and UTXO-HD disk backup storage,” he wrote in the report.
The report was released after a very optimistic forecast by analyst Ali Martinez for the price of Cardano. According to his analysis, the price of ADA could experience an explosion of up to 2,500% soon.
“The current consolidation trend of #Cardano eerily reflects the 2018-2020 phase! If history repeats itself, $ADA could remain in this consolidation phase until July 2024. Barring unforeseen events such as the fall of COVID-19, ADA could break out as early as December!”, he highlighted.
#Cardano‘s current consolidation trend eerily mirrors the 2018-2020 phase!
🔴 If history repeats, $ADA could stay in this consolidation phase until July 2024.
— Ali (@ali_charts) October 12, 2023
At the time of publication, the price of Cardano was quoted at US$0.246385, up 0.8% in the last 24 hours.
Cardano (ADA) Regains Leadership in Development
Cardano (ADA) has made impressive moves, consolidating itself as one of the major players in the market. Recently, this crypto giant returned to the spotlight, having achieved a remarkable feat: according to the renowned blockchain analysis company, Santiment, Cardano regained its first place in the development activity ranking.
Over the past 30 days, Cardano enthusiasts have watched in awe as the cryptocurrency has recorded an impressive 611.47 commits on GitHub. This number highlights the ability of the team behind ADA to maintain constant activity, putting it ahead of other crypto projects that have attracted attention.
To give you an idea of how big this number is, Polkadot (DOT) and its canary testnet Kusama (KSM) together recorded 500.67 commits, putting them in a technical tie for second place.
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