Although major update to Plutus design is finally live, Cardano (ADA) price almost touched yearly lows
On February 14, 2022, the Cardano (ADA) blockchain underwent one of the most crucial updates in 2022. Will it be powerful enough to end a months-long ADA price drop?
Memory limit increased for Plutus Scripts, but ADA dips below $1
Input Output Global, a software developer team behind the progress of Cardano (ADA) blockchain solutions, announced that the latest update to Cardano’s codebase is up and running now.
Starting today, February 19, 2022, it comes out of observation mode: it’s designed to push back the barriers of Cardano’s power and decentralization for better dApps performance.
As covered by U.Today previously, every Plutus script (Cardano-specific software program for on-chain applications) can now utilize more computational power of Cardano (ADA)—to the tune of 12%.
Additionally, according to the statement of Cardano’s Chief Architect, John Alan Woods, Cardano’s block size has increased to 80 kilobytes.
At the same time, the Cardano (ADA) price inches to its lowest since mid-February 2021. Today, ADA is changing hands at $0.98 on major spot platforms: its price has not been so low since Feb. 23, 2021.
As such, ADA price has lost over 66% from its all-time high recorded in September 2021 at over $3.
Finder panelists: Cardano (ADA) might eclipse $58 by 2030
However, even this massive multi-month decline fails to make some analysts pessimistic about Cardano’s long-term prospects. All-in-one crypto dashboard Finder organized a panel discussion to check the sentiment about Cardano (ADA) with the expert community.
Finder roundtable participants (crypto entrepreneurs, analysts, influencers, researchers, advisors, etc.) are confident that ADA is poised for a 58x rally.
It should be noted that in July 2021, experts were 50% less optimistic about Cardano’s (ADA) performance: they predicted its 28x rally in another eight years.
