Cardano Attains Another Important Milestone Moving Closer to its Smart Contract Launch

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CFund Plan to Supports the Adoption of Cardano Ecosystem
CFund Plan to Supports the Adoption of Cardano Ecosystem

According to the IOHK announcement, Cardano has officially entered the Alonzo White phase of launching its smart contract.

Cardano to Increase Number of Testers and Features 

At this stage, it will significantly increase the number of testers and add more features.

As reported by U. Today, Cardano launched its first test network, Alonzo Blue, at the end of May with a lot of fanfare.

The first smart contract was successfully executed on Cardano’s Alonzo Testnet

After the White era, Alonzo will be fully disclosed in the Purple phase, which means all stake pool operators (SPO) and pioneers can use it.

Named after the mathematician Alonzo Church, the highly anticipated Alonzo Hard Fork is expected to be made available on the mainnet in early September.

It will bring smart contracts to the proof-of-stake blockchain and mark the end of the Goguen era.

Cardano will occupy a place in the decentralized finance (DeFi) space and will be able to compete with companies like Ethereum, Binance Smart Chain (BSC) and Solana.

Cardano Price Analysis

When the token fell 3.9% in the past 24 hours, Cardano fell below the $1.25 support level. Altcoin price could drop further below the mark and eventually find support at the $1.15 mark before reversing. Due to the downward trend since the end of the first week of July, the old ones are steadily moving south, so ADA has been in the sales zone for a few days.

As prices begin to correct, buying pressure will return to the market and the Relative Strength Index will rise from the oversold territory. At the time of writing, the Bollinger Bands were diverging, highlighting a period of market volatility ahead of Cardano.

At the time of writing, the Awesome Oscillator was sending a strong bearish signal and the size of the red signal bar was increasing.