From its most elevated in January at $1.08, Cardano went down at $0.13 in mid-March. For as far back as couple of weeks, Cardano has been seeing a downward movement in its prices with the crypto market, dropping down to $0.17 level.
Today, Cardano registered the gains of $9.47 percent over the most recent 24 hours, at the time of writing. The green has entered the market again as ADA goes to $0.20 level. Positioning at seventh position, Cardano has the market cap of $5.1 billion.
Larger part of digital currencies are ascending in value, but, Cardano is driving the best 20 digital currency pack.
The price surge came when Charles Hoskinson declared Cardano 1.2 release. The founder and CEO of Cardano took to Twitter to share the update. He additionally shared a video and discussed a few different details, for example, delegation, stake pools, and TestNet.
This update as per the Cardano community is the first run through a total semantics of Ethereum Virtual Machine (EVM) has been delivered.
Gerard Moroney of IOHK shared his thoughts with:
“The KEVM TestNet, a correct by construction version of the Ethereum Virtual Machine (EVM) specified in the K framework. This technology, produced by Runtime Verification with the support of IOHK, is the first time that a complete formal semantics of the EVM have been produced. This is an important first in cryptocurrency that is a necessary step towards the promise of third-generation blockchains.”
The crypto community has been extremely eager and enthusiastic for this update rolled out a few improvements to the wallet alongside fixing the bugs, Daedalus issue and considerably more.
After this launch, the second TestNet called IELE is set to be launched in July. IELE is another virtual machine whose release implies designers will have the capacity to compose, compile and execute the smart contract with better execution and enhanced security.
The first TestNet launch has gotten a decent rise in Cardano ADA price. The second update is relied upon to expand ADA’s market value which may even take its prices to the moon.