Cardano has been trading in a strong uptrend for the past two months, while investors are looking for better alternatives to Ethereum. The upcoming update for the digital asset will allow users to create tokens from scratch on top of the Cardano blockchain.

 

 

Cardano’s latest update to develop new use cases for digital asset

The ‘Mary’ update was approved for March 1, 21:44 UTC, right after Cardano completed its Epoch 251. IOHK, the company behind the project’s many technological supports, announced that the latest update will be a fundamental step in the integration of smart contracts in the Cardano blockchain.

The update will be completed at 21:44 UTC with a hard fork. The Goguen phase, which is the integration of smart contracts, forms a fundamental foundation for Cardano. It is worth noting that currently, users cannot create new local tokens on the Cardano blockchain as in Ethereum.

However, the main benefit of the project will be the creation of these tokens without the need for smart contracts. This means users can create a new token in minutes without development knowledge.

Smart contracts will come soon either way, but they are not required to generate tokens. These can be tokens, NFTs, utility or management tokens, and more.

The impact of the successful integration of the Mary update could have a positive impact on the Cardano price, which is close to all-time highs.

 

Cardano price at a 20% ascent to new heights

On the 1-hour chart, Cardano formed a rising triangle pattern that is on the verge of a breakout. The most important resistance level is $ 1.08. Moving above this level could easily push the ADA price to $ 1.29; this is a 17% move calculated using the maximum height of the model as the reference point.

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Cardano has been trading in a strong uptrend for the past two months, while investors are looking for better alternatives to Ethereum. The upcoming update for the digital asset will allow users to create tokens from scratch on top of the Cardano blockchain.

 

On the other hand, a rejection of $ 1.08 from the upper bound of the pattern could lower the ADA price to the lower trendline, which is currently at $ 1.04.

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