Charles Hoskinson recently reported about the Cardano 1.4 update. According to the CEO, the update is progressing well with key solutions expected to take effect. This comes at a time when Cardano is struggling to trade above $0.037. The team will be hoping that this will give Cardano the boost it needs to soar again.
Before the market went crashing on November 14, Cardano was trading just over the $0.075 mark. After falling as low as $0.035, holders are hoping that the coin finally bottomed and a price correction is underway. The bulls are now eyeing the $0.051 mark which should see some confidence set in among investors. This will, however, take more than the team’s updates and developments. The market is currently going through a bearish trend triggered by bitcoin and it will take a wider bullish rally to have Cardano soaring again.
Cardano 1.4 Update In Regression Testing, Says Hoskinson
A few days ago, Cardano CEO Charles Hoskinson conducted an AMA (Ask Me Anything) on YouTube. Hoskinson talked about everything from technical aspects of the Cardano project to his personal life. During the discussion, he talked about the highly anticipated Cardano 1.4 Update.
According to the CEO, the update is in its regression testing and although the team had encountered several regressions, nothing was of real concern. He also added that there has been a huge amount of refactoring on the core and there would be new data solutions.
However, the biggest development update from the CEO remained the successful connection of their “Rust” code and their “Haskel” code. This will play part in the back-end of the Daedalus wallet.
In a move that might just boost Cardano’s position, the CEO announced that the update would be ready for launch late November or early December.
On October 12, Hoskinson announced that he and Emurgo would assume the Cardano Foundation leadership role. This was followed by the resignation from the Foundation’s chairman, Michael Parsons. The CEO noted that the change was in response to the Foundations lack of delivery.
Cardano prices should continue rallying along with the wider market correction in the coming days. But should the Cardano 1.4 Update bring major improvements, we should see prices spike. In a bullish scenario, we should at least see Cardano trade above the $0.070 position by the end of the year.
John is a finance and technology journalist with a growing interest in cryptocurrencies. Writing is his passion and when he’s not writing he’s listening to the Beatles.