Altcoin News

Cardano Continues Surge Higher After New Full-Node Wallet is Released

Following the announcement of a new “mainnet wallet” for Cardano, the blockchain platform’s native crypto token ADA is seeing strong gains in the crypto market, rising nearly 8% over the past 24 hours to a price of USD 0.046, as of press time on Monday.

ADA is now (10:47 UTC) the best performing top 30 cryptoasset today and in the past week (+28%).

Along with other important updates on things like the progress towards the next development phase of the network, the new wallet – dubbed Daedalus 1.0.0 – was announced by Cardano founder and CEO of Cardano development firm IOHK, Charles Hoskinson, in a live-streamed video update on April 23.

ADA traded higher immediately after the announcement, and has continued to rise on a daily basis since. With the latest gains in ADA, the price of the cryptoasset is now trading well above its important 200-day moving average line, which also means that the asset has more than recovered its losses from crypto’s “Black Thursday” on March 12.

The newly announced Cardano wallet is unique in the way that it does not rely on any external parties to validate transactions, but instead downloads the entire blockchain, becoming a full-node desktop wallet to run on Windows, Mac, and Linux computers.

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