Cardano (ADA), which has seen its price rise by more than 6% over the past day, is aiming higher today. Following the announcement of Aiken Launch, an open-source smart contract language and toolchain for creating Cardano smart contracts, the price of the cryptocurrency has increased.
The aim of Aiken is to streamline and enhance the procedures for creating smart contracts on the Cardano network. The disclosure generated favorable price movements for ADA, which saw a significant price boost in the hours that followed. On the weekly chart, ADA’s price has now increased by more than 15%.
Cardano Announced To Launched Aiken
Cardano made an announcement on April 13, 2023, about the launch of Aiken’s alpha phase. This innovative upgrade aims to address various issues concerning smart contract writing, such as the establishment, comprehension, and application of the Haskell Plutus platform on the blockchain. With its implementation, Aiken is set to enhance the interconnectivity between Haskell, a general-purpose programming language, and other off-chain languages.
The announcement states that using Plutus with other off-chain codes is difficult. However, Aiken would address this issue by streamlining integration into any off-chain infrastructure framework, drawing on IOG’s work on Plutus, a platform for smart contracts on the Cardano blockchain that enables programmers to use a single Haskell library.
Aiken includes a number of domain-specific facilities that simplify and speed up the creation of Smart Contracts. Fast compiler feedback and automated code formatting are provided, along with a language server that’s compatible with editors.
According to the tweet, the Aiken team will carry out thorough checks to ensure that the program complies with the expected criteria. The feedback gathered from these audits will help the mainnet launch go more smoothly.
What’s Next for ADA Price Surge Following Aiken’s Launch?
The Aiken news has sparked excitement within the ADA group and among more general crypto market players. The price of ADA increased by 5.16% on March 13 and was up again as of press time today, by 6.74%.
On April 13, the trade volume was $371,43 million, and on April 14, it was $716,97 million. That may mean that following the Aiken announcement, network and trade activity increased.
Given the potential for increased usefulness for the ADA, some experts predict that this move may boost interest in ADA. With a rise of 6.74% during the previous 24 hours, the price of ADA is currently $0.4487. The token’s 7-day price increase has also risen to 17.25%, moving it up to seventh place among the top-gaining cryptocurrencies yesterday.
Technical indicators show that the price of ADA has crossed all moving averages, which is a positive indication for the cryptocurrency. The coin price is above the key pivot points S1 (0.3280), S2 (0.2571), and S2 (0.14550), and the oscillators strongly favor a purchase position.
The fact that the token price is rising suggests that the bulls are in charge of the market. If the present positive sentiment holds, the price of ADA may get a little bit closer to $1.
Related Reading: | Cardano’s Charles Hoskinson Hints At His Next Move |