• Cardano’s Valentine upgrade launched on the mainnet.
• ADA price dropped 12% from the previous week and attempted support around $0.357.
• The upgrade supports Plutus SECP cryptographic primitive which enables cross-chain interoperability.
Cardano’s Valentine Upgrade Launched
On Tuesday, Cardano’s Valentine Upgrade was launched on the Cardano mainnet, triggering a surge in price. Following the massive gain in January, ADA underwent a brief pullback in February to refuel the faltering bullish momentum and consequently dropped 12% from the previous week while attempting support at $0.357.
Price Movement After Launch
After a continuous fall, Cardano’s price found support close to the $0.345 area. Price fluctuated as low as $0.3454 before beginning a steady rise recently with $0.365 and $0.370 resistance levels being clearly broken on the upside; creating an immediate resistance near the $0.392 area with next significant resistance developing at around $0.407 region . In 24 hours of launch, Cardano’s ADA has surged more than seven percent .
Inclusion of Plutus SECP Support
Input Output Global (IOG), developers of Cardano project revealed that the upgrade includes support for Plutus SECP cryptographic primitive in a tweet on Valentine’s Day . IOG clarified further that this native support encourages cross-chain interoperability while preserving highest level of security .
Interoperability for Blockchain Growth
Interoperability is essential for blockchain growth as it allows different blockchains to communicate and exchange information with each other , thus expanding their functionality and potential use cases . This problem can be solved by enabling different blockchains to interact through mechanisms such as cross-chain communication protocols , bridges or interledgers .
Conclusion
The launch of Valentine upgrades boosts hopes for Cardano bulls who are targeting levels close to $ 0 . 40 with strong supportive technical structure beneath it . Cross-chain interoperability enabled by Plutus SECP cryptographic primitive further adds value to this cryptocurrency and its usage possibilities making it one of most promising projects in crypto space right now