Categories: Cryptocurrency

Cardano surges 18% on launch of Daedalus wallet

Share

Blockchain platform Cardano has had a rare spurt of growth today as the team launches its latest crypto wallet to mainnet.

Cardano (ADA) has cranked over 18% in the past 24 hours to reach a seven-week high of US$0.0438 [AU$0.069], equivalent to 580 satoshis.

The move has lifted Cardano market capitalization to $1.13 billion as it moves past Monero for the 13th place on the coin cap charts.

Since its mid-March dump, along with the rest of the crypto market, Cardano has recovered almost entirely, returning to pre-crash prices.

The momentum has been driven by the launch of a brand-new Daedalus mainnet wallet for Cardano.

According to the announcement, Daedalus 1.0.0 brings significant enhancements to the wallet, including advancements in stability, reliability, and performance.

The firm added that new features include:

  • background blockchain synchronization
  • wallet import feature
  • mandatory spending passwords
  • transaction filtering
  • new update mechanism
  • redesigned, faster wallet restoration

ADA has been touted as another “Ethereum killer,” but it has failed to gain the adoption and developer base that its big brother has.

Cardano is still down 96.5% since its all-time high, but in all fairness, Ethereum is in a similar situation.

Featured image courtesy of InputOutputHK/Twitter

Martin Young

Martin has been writing on technology for 15 years, he has a keen eye for emerging cryptocurrency news, blockchain developments, and market sentiment.

Published by
Martin Young

Recent Posts

TrustSwap attracting attention of DeFi sector with high profile partnerships

Decentralized Finance (DeFi) is the future of the global economy. In this line, there is…

34 mins ago

Top FinTech careers & how to grow in them as a fresher

The traditional banking and finance sector has been in existence for decades and has produced…

48 mins ago

A guide for tradies on how to start marketing your business online

If your trade business doesn’t already have an online presence, you’re likely missing out on…

1 hour ago