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Today’s Cryptocurrency Headline

Cardano development company Input Output said it has deployed the Alonzo hard fork upgrade on the Cardano mainnet which will deploy Plutus smart contract functionality on the Cardano network via the HFC (Hard Fork Combination) protocol upgrade event. The team says it will continue to release biweekly code updates over the next few months and regularly maintain and update quarterly major HFC events. The first simple smart contract script will be deployed on Cardano within hours of the HFC incident. More complex DApps will take longer to roll out through the public beta network, and hundreds of projects are expected to be deployed in September and October, with an acceleration in the fourth quarter. You can check ADA coin price at Bingbon now.

Bingbon’s Bitcoin Chart

Source: TradingView& Bingbon

Bitcoin is still in the down channel after consolidation these days. Currently, the strength of the rebound is relatively weak. This suggests that BTC price could continue to challenge the support level at $43,000 in the coming days. On-chain data also hinted that last week’s collapse in Bitcoin’s price was due to miners selling BTC in the $50,000 range. If Bitcoin returns to the $40,000 level and does not break, there is still a chance of a near-term rally. However, more volatility is on the way, and traders should take precaution and avoid unnecessary losses.