- IOHK will deploy native token functionality on the Cardano testnet today, February 03.
- The ADA price is looking massively bullish in anticipation of Goguen, registering an increase of more than 100% in one month.
February is a month of updates and progress for Cardano (ADA). The crypto community and the market have high expectations for the activation of decentralized financial features in Cardano. Some experts even predict that the platform could become the ultimate “Ethereum killer” or at least outrank it.
Cardano’s development company, Input Output Hong Kong (IOHK), announced a few hours ago that it will activate a hard fork on the Cardano testnet today, February 3, 20:20:16 UTC. The fork will introduce the multi-asset standard called “native token” on Cardano and will be rolled out with the gradual introduction of the Goguen era on the testnet.
User will be able to test the native token capabilities that will be deployed on the mainnet with the second hard fork combinator (HFC) event for Goguen, called “Mary“. With a tentative deployment date of Feb. 22, “Mary” will allow users to create, issue and manage their own tokens on the Cardano blockchain and will complement the metadata features introduced with the “Allegra” fork, which took place in December 2020.
The last of three HFC events will take place somewhere in the second quarter of 2021. As TokenAndCrypto has reported, the date will largely depend on the results of the stress tests of Cardano’s smart contract platform, called Plutus. The test will be conducted in March, according to Cardano’s inventor Charles Hoskinson.
The hype and news of the rapid rollout of the Goguen era have had a positive impact on ADA’s price. At the time of publication, ADA is trading at $0.41 with gains of 0.73%. On the weekly and monthly charts, ADA has posted significant gains of 22% and 106% respectively.
ADA’s price has risen more than 640% in a year after being at a low of $0.03. With an all-time high of $1.1576, ADA still has plenty of room to grow in 2021. One trader who has been bullish on ADA is Michaël van de Poppe.
In his latest publication, the trader predicted ADA to rise to $0. 48 or $0.52 after converting $0.35 from resistance to support. That price range should serve as support from here on out as the price rises:
#Cardano is acting very strong here, as the momentum is kicking in. Beautiful S/R flip at the 950 sats levels with continuation towards the next region 1325-1400 sats. Not expecting that to break from here, but we’ll see. Good bullish moves.