1. Cardano Blockchain Development Progress
Big news for the Cardano project! The long-awaited scaling protocol, “Hydra,” is now available on the Mainnet. This will enable faster and cheaper transactions, making it more widely adopted. Hydra is part of the Layer 2 protocol family and can be adapted to various use cases. In addition, the launch of Hydra head will reduce transaction fees. However, since Hydra head is not an upgrade, it is not affected by a hard fork. Congratulations to the Cardano community on the release of Hydra!
2. Metaverse Virtua Project
The news from the Virtua project summarizes the highlights of Q1 2023. In January, they released Crib Updates 1.1 and 1.2, followed by Crib Updates 1.3 and 1.4 in February, along with hosting Superbot and Minorbot meetings. Furthermore, on February 6th, they launched Goldenbot, which generated excitement within the community. In March, they released Marketplace Update 1.0, which improved the visual design. They also held the Crib Crafter competition, with ADA being awarded as the prize.
3. ADA Market Analysis
The price of ADA continues to move within a triangle range, with an upward breakout point at $0.42. Currently, an ABC correction is underway within the last wave of the triangle, the E wave, aiming for a high three-wave structure in the C wave. If it surpasses 46.3 cents, there is a possibility of a sharp rise in the third wave to above 50 cents, depending on the structure. The target for the C wave will be calculated when the triangle is broken, but currently, it is held within the yellow support range starting from 33.3 cents, with attention on a higher third wave.
