Cardano community is awaiting September 25th to welcome the Cardano summit 2021! Prior to the event, Cardano officials revealed innovations that are going to happen. The main focal point of discussion will be Hydra, a key layer-2 protocol to boost Cardano’s scalability. That update is the most advanced and fresh development enabled by Alonzo Hard Fork.
Hydra Protocol – Cardano’s Solution for Flexible Layer-2 Scalability!
After thorough research from team IOHK, the Hydra paper was released. It is going to be one of the significant milestones in the development of ADA. Hydra protocol advances Cardano’s Proof-of-Stake scalability. Hydra will be the game-changer for the Cardano ecosystem, this layer-2 scalability protocol aims to maximize throughput, minimize latency, cost-efficient and considerable requirements.
Charles Hoskinson said that team has got lot’s to say about Hydra at the Cardano summit. In addition to this, the Cardano community raised curiosity among community members revealing possible events. According to the team, the Cardano summit is going to witness 40 community-led events, 7 main summit events, 60 community hosts. A mix of virtual and live events from around the world.
Cardano Outpowers Ethereum by 150% Prior to Cardano Sumit!
Prior to the Summit, Cardano price seems to be ‘Calm before the storm’! According to the report of Messari.io, Cardano’s trading volume outpowered Ethereum by a large margin. Well, Cardano with $14.90 billion trading volume over the last 24 hours topped the list of smart contracts sector. Ethereum’s trading volume being $9.98 billion over the last 24 hours.
Interesting note, even with low transaction volume Ethereum price collected in the last 24 hours is $33.47 million with 548,934 active addresses! And ADA surprisingly, with 150% more transaction volume than ETH collected only $41.19K fees. Followed by ADA and ETH, Polkadot stands at 3rd place in the Smart contracts platform with $1.15 billion transaction volume in the last 24 hours.
How High Will ADA Price Rally?
Keeping in the notice of developments, Cardano officials are pretty sure that Cardano price will hit $10 by the year’s end and the Cardano team is decided to give away 1 billion ADA coins. ADA price is trading at $2.40 at the press time, with huge buy pressures Cardano is forming a strong support zone. With Breakout at $3.10, $5 could become easily achievable. If it fails, with breakdown the price may find its next support around $2.10.