Cardano, the open-source blockchain platform has most recently upgraded the mainnet to the latest version of the system, dubbed Cardano 1.5.1, which is the last upgrade before the network switches to an improved version of Cardano’s protocol, called Ouroboros BFT.
The upcoming mainnet upgrade should introduce Cardano’s next important mainnet update, which is switching to a version of Proof of Stake protocol while Cardano BFT should reduce risks that make the network vulnerable to 51% attacks.
As the community saw Cardano 1.5.1 upgrade, the price of ADA spiked against the fiat by 13,4%, while even a day later, ADA is up by over 9% in the course of the last 24 hours, concluded with March 22nd.
Cardano (ADA) Recording 21.1% of Gains During the Last Seven Days
Even though Cardano representatives reported a bug found in the latest release of Daedalus (version 0.13.0), the misfortunate case was resolved only a day later and have not affected the price of ADA.
A day later, ADA is still traded at over 9% in the course of a single day, while the crypto is also recording gains of 21.1% on its 7-day chart, which placed it among the top trading cryptocurrencies on the list of top 20 digital assets.
ADA is now ranked as the top 11th crypto in the market, while it is obviously showcasing more bullish trends than its crypto peers.
Still, despite adding 34.3% to its 60-day gains, also recording positive returns during the last 30 day with over 25% of gains, ADA is recording -74% on its year to date chart as the crypto is struggling to rebound from the last major dip that took place in November 2018, just like its crypto peers.
Additionally, ADA is also bullish on is 14-day chart, recording 35.2% of gains.
ADA Appears to Be Riding a Prolonged Bullish Momentum
Even though the spiking price was backing down on hourly charts from time to time during the last 24 to 36 hours when ADA reached 13.4% in a day at one moment, Cardano’s crypto seemed to have stuck with a prolonged positive momentum.
In the meanwhile, Bitcoin for instance is showcasing barely 2% of gains on its weekly charts, while Bitcoin Cash (BCH) for instance, is on the head of upward trends with over 10% of gains on its 7-day chart.
Moreover, ADA might see another bull run similar to the one that pushed ADA against the dollar after the latest upgrade version 1.5.1, once the network goes through another major change with Ouroboros BFT.
Since Cardano’s teams announced working on scalability issues, the value of the network as well as its native currency may consequently raise in the course of the next two years as the teams are progressing with project updates.
One of the main perks would be enabling more transactions processed per second, which is in fact what all major blockchain-based platforms are working on now, including the second-largest crypto project, Ethereum (ETH).