Cardano’s new milestone catalyzes ADA’s rally to fresh ATH above $3

Cardano network has gained tremendous traction this year. So far, ADA has proved its skeptics wrong and FUDsters at bay after rallying amid market-wide stagnancy. In yet another development, IOHK announced that the much-anticipated smart contract integration going live on the testnet.

The blockchain technology company behind the development of the Cardano network’s official tweet regarding the same read,

“So there we have it. Since c. 20:20 UTC today, the Cardano Testnet now officially supports Plutus smartcontracts. Final testing & integrations ahead. SPOs will now upgrade their mainnet nodes. Then next stop… mainnet upgrade. Still on track for 12 September. Onward! ADA.”

The Alonzo Purple rollout phase kickstarted months ago that saw several important upgrades to facilitate smart contract functionality to the network. This marked the opening of the new Goguen era. Besides, the next major milestone for the blockchain is the mainnet upgrade that is slated for the 12th of September.

Cardano [ADA] Breaks $3 for the first-time ever

The latest development gave ADA a much-needed push which was trading sideways at the beginning of the week. The third-largest crypto-asset by market cap was now trading at $3.03 after a surge of 6.90% over the last 24-hours alone. As a result, ADA amassed weekly gains of nearly 20%.

The recent developments on the network side have stirred the traders who were betting big on the native token. ADA had a stellar week despite delays and FUDs. The coveted Alonzo upgrade is heralded as crucial because it would enable smart contracts to be built on the network. This, in turn, would transform the Cardano blockchain into a more lucrative network by making it accessible to a broader array of users.

The “Ethereum killer” narrative has been around for a long time. But the subsequent developments on its ambitious roadmap could, in fact, put the network on the contender list.