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Underdog Cardano Eyes $3 After Successfully Smashing Smart Contracts Record

$ADA set a new record for over 100 completed smart contracts barely two days after the release of its highly-publicized Alonzo Hardfork. The Plutus smart contract capability, which featured as a part of the purple phase of Cardano’s three-pronged upgrade, broke the 100 contract record confirming a seamless integration of the new upgrade. The success comes as an underdog victory for the current 3rd most valuable coin after a series of complaints about its smart contract ineffectiveness flooded the crypto space in the run-up to the release.

With the new milestone, $ADA will be looking to become a new haven for decentralized applications (DApps), decentralized finance applications (DeFi’s), and Non-fungible tokens (NFTs) ultimately giving Ethereum, and its discouraging gas fees, a run for the money. A highly enthralled Charles Hoskinson was quick to hail the feat as the successful result of hard work. He was quoted as saying:

“This upgrade is the culmination of six years of hard work with some of the brightest minds in blockchain and beyond. The focus is now on improving the platform further and ensuring that Cardano is adopted by corporations and governments.” Praising the community efforts, Charles added: “With this launch, commercialization is already in the hands of the community as it is the system architects and they are already delivering.”

Ever since making five million marks in Africa, Charles Hoskinson’s Cardano has continued to dumb naysayers with innovative milestones. There are now over 780,000 NFTs minted on its platform. The periods before delivery of its smart contracts came with a barrage of criticisms on its inability to scale up on competitiveness, but from believers in the $ADA potential like Amy Arnott — a portfolio manager for Morning Star, predicted a solid top-three spot for the coin once its smart contracts are initialized.

Cardano has risen two spots up since Arnott’s prediction, almost doubling its value from $1.3 in August to $2.45 today. Within the first three days in September, it tested the $3 threshold on the wings of a global crypto market rebound amidst news of its upcoming upgrade before pruning down values to its current price.

ADAUSD Chart By TradingView

The next phase of progress will be discussed at the Cardano summit on the 25th/26th of September where speakers from the World Economic Forum, Southbank, and Financial Times will map out the possibility of Cardano as a de facto operating system for governments, global industries, and supply chain networks.

Robinhood, Webull, Coinbase, FTX, and Binance have all approved Cardano for trading on their platforms.

Source: zycrypto.com

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