Cardano’s interoperable decentralized applications (Dapps) ecosystem continues to impress as its total value locked (TVL) hits an all-time high (ATH) of around $110 million. The proof-of-stake (PoS) blockchain, which has grown exponentially since its inception in 2017, has become a hub for Dapp developers, who now have a securely scalable environment.
However, as regulatory scrutiny takes its toll on the crypto industry, the ADA price struggles to invalidate the multi-week bear market, and the SEC is beginning to crack down on crypto-staking programs. With the FTX collapse in mind, the industry’s future seems uncertain.
Cardano traders are anxiously waiting for a breakout above January’s highs, which could push the price toward $0.50. Otherwise, the bullish thesis could be invalidated should the ADA price retract below $0.35 in the coming days.
Valentine’s Day Upgrade
On February 14, the Cardano community was pleasantly surprised by the Valentine upgrade. IOHK developers announced that Plutus SECP cryptographic primitives support is now live on the Cardano mainnet. The upgrade is intended to create an interoperable environment that is secure, and scalable environment for Dapp developers, paving the way for safe communication with other blockchains.
IOHK stated that “native support for SECP now fosters cross-chain interoperability while ensuring the highest level of security. With the Cardano Valentine upgrade, developers can now easily create cross-chain DApps that are secure, reliable, and cost-effective.”
The Cardano Valentine upgrade is not as complex as the Vasil upgrade, but both upgrades are crucial to the mass adoption of ADA networks by DeFi developers.
