Cardano has been in the spotlight in recent days due to the bold predictions made by analyst Ali. Ali’s forecasts suggest that ADA, the native cryptocurrency of the Cardano network, could experience a remarkable surge in value, potentially reaching a staggering 2,500%. This prediction has sparked excitement and anticipation within the Cardano community.
In a tweet made on October 12th, Ali drew parallels between Cardano’s current consolidation trend and a similar phase observed between 2018 and 2020. If history were to repeat, ADA might remain in this consolidation phase until July 2024.
However, Ali also suggested that barring unforeseen events such as the COVID-19 market crash, ADA could break out as early as December, offering hope to investors and enthusiasts.
While speculation regarding the price of ADA continues, the Cardano network stays dedicated to its development efforts. On October 14th, Cardano released their weekly development report, which highlights the progress happening behind the scenes. This report provides an overview of the activities carried out by various teams throughout the week.
Cardano’s Weekly Development
The networking team examined the functionality of bootstrap peers and analyzed the performance of typed protocols. Meanwhile, the performance and tracing team conducted evaluations on UTXO-HD and devised strategies for future benchmarks of Plutus v3. Additionally, they released Lace v1.6, an update that allows users to personalize their multi-staking ratios while simplifying the setup of the recovery phrase.
In addition to these developments, several teams are actively working on various aspects of Cardano’s ecosystem. The Plutus tools team focuses on the new Marconi API, Cardano-node-emulator testing, and the transition of Marconi into a Cardano node. The Plutus Core team has published a Quick Start guide for developers using Plutus Tx to create smart contracts.
The Marlowe team has been busy implementing an API compatible with the Playground TS, working on vesting DApp functionality, and creating a contract lifecycle API. The Runner development team has updated the style, resolved issues, and improved the deployment process.
The Hydra team has released version 0.13.0, which includes various fixes and extensions. They have also increased head availability and are supporting Catalyst projects interested in building on Hydra. Furthermore, they have updated and published security and vulnerability disclosure policies for Hydra.
The Mithril team is working on distributing the Mithril client as a library and addressing bottlenecks in their system. They are also making infrastructure improvements, including the activation of Cloudflare.
Moreover, several other developments can be seen in the weekly report. However, these developments mark significant milestones in the network’s journey towards a more robust and inclusive blockchain ecosystem.
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