Cardano ADA

Cardano (ADA) Update: Withstands Resistance and Opens New Possibilities for EVM Smart Contracts

  • ADA Price Rises as Whale Buyers Prepare to Overcome Resistance
  • Milkomeda Announces Feature That Will Allow Cardano Users To Access EVM Smart Contracts
  • Cardano becomes one of the main EVM chains and expands its possibilities for Ethereum application developers

Cardano’s native cryptocurrency ADA has seen a 50% rise since early 2023 and is currently trading at $0.399 with a market capitalization of roughly $13 trillion, according to Coinmarketcap. However, as of late, ADA has faced resistance at $0.40 levels. Cardano whales, holding between 1 million and 10 million ADA, have bought 150 million coins worth $57 million over the past month, according to data from IntoTheBlock:

Resistance at the price levels of $0.40 and $0.42

Cryptanalyst Ali Martínez points out that there is a strong selling wall in the price range between $0.40 and $0.42, with a value of $3.85 billion. According to Ali Martinez, breaking this barrier could trigger a bullish rally for ADA as there is no significant resistance ahead.

ADA resistance april 2023

Access to EVM smart contracts

Blockchain and Cardano wallet users will soon be able to access Ethereum Virtual Machine (EVM) smart contracts as Milkomeda, a network that connects other blockchain platforms to EVM contracts, will launch a feature which will allow Cardano users to use EVM contracts directly from any Cardano wallet.

Cardano will be a top EVM chain next month. Milkomeda (Cardano’s EVM layer) is launching a feature allowing EVERY Cardano user to use EVM contracts directly from ANY Cardano wallet All in pure ADA. This will instantly make Cardano one of the largest EVM chains by user count”, said Sebastian Guillemot, CEO of Milkomeda.

Cardano will be one of the top EVM chains next month, instantly becoming one of the largest EVM chains by number of users.

Furthermore, Ethereum application developers will be able to build on the Cardano blockchain using the Solidity programming language without the need to install new toolkits.

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