BlocksInform
The crypto market rally is losing strength, forcing major cryptocurrencies, like Bitcoin, Ethereum, and Cardano, back into their supporting regions. The latter has deployed products and developments that suggest an upward trend in the longer term.
At the time we write these lines, cardano (ada) is trading at $0.35 with a 5% loss over the past 24 hours. Over the past week, the ADA price has still made a profit while the bulls have been under a lot of pressure to sell.
Cardano in Olympus's development business.
Data from research firm Santiment indicates that the Cardano ecosystem is vibrating with development activity. Currently, this blockchain is classified number 3 in the metric, depending on the number of commits on the github software development platform.
As the graph below shows, cardano's development activity over the past 30 days has recorded more than 330 github commitments for the various projects on this blockchain. Polkadot alone and its experimental kusama environment saw more development activity, with 441 engagements.
As shown in the graph above, the price of Cardano (ADA) has evolved in step with its evolution and with the general sentiment of the market. As developers become involved in the blockchain, the ecosystem becomes more attractive to investors. Ada has recorded a 38 per cent rally in the last 30 days.
Over the next few weeks, this blockchain will be rolling out a new upgrade to its intelligent contract programming language. This upgrade will support the elliptical curve (ecdsa) and schnorr digital signature algorithm.
These new components will enable developers to offer greater security and strengthen the capacity of the chain. Plutus was designed to function as a programming language that is easy to use and accessible. That could make people feel even more motivated to build on that blockchain.
It remains to be seen whether the price of ADA will continue its recent trend and keep pace with its rapidly increasing development activity. Input Output Global, Cardano's largest development company, says:
It will improve interoperability and secure the chain. Developers would otherwise need to spend time, effort and additional money to implement ECDSA and Schnorr on SECP elliptic curves.
