Cryptocurrency

Cardano (ADA): Beta Release Daedalus on Linux Software Creates Market Frenzy

Cardano (ADA): Beta Release Daedalus on Linux Software Creates Market Frenzy

SACRAMENTO, Calif. – With a market capitalization of about $4.2 billion, Cardano (ADA) belongs to the top ten list of cryptocurrencies with the highest market caps. Recently, the Cardano team has made an announcement regarding the release of Daedalus on the software Linux. Many had been anticipating this release which was communicated through the community forum specially formed by ADA supporters.

Cardano (ADA) is a decentralized platform based on the blockchain technology which was developed through scientific research. This crypto coin gained popularity due to its smart contract method that allows faster transactions in a relatively anonymous environment. ADA is referred to as the coin behind this project.

The information was limited, but it was indicated that the software is now ready for beta testing. Collective feedback is being formed to assure the community that all Linux distributions will be provided.

The beta testing leans toward users who are already comfortable enough to operate a terminal script. The software will also include various customization levels for optimum user experience. Instructions based on the IOHK statement shall be adhered to in running the beta version.

The Cardano community was requested to test this version while keeping their wallet recovery safe. Moreover, they were asked to provide feedback to the network as to their experience, be it good or otherwise.

On April 9th, the trading price of Cardano was up by 8% after a trading lock-step in the weekend. The price was about $0.150 with its highest level reaching $0.165 before it went slightly down. The Asian trading phase helped this virtual coin reach at least $0.157.

The Cardano price is apparently trading beyond the 100 SMA in an upside direction. The long-term 200 SMA is foreseen to offer resistance if the price goes higher than $0.161. Alternatively, the Fib retracement mark of about 61.8% with its previous high of $0.165 and $0.157 low failed to maintain the trading price throughout the downside movement.

The proximate ADA/USD support level is currently at $0.159, while its chief support remains at around $0.157. To avoid further falloffs toward the major support phase, Cardano (ADA) needs to have a firm hold over its immediate support phase.

About the author

Bradley Johnson

Bradley Johnson

Brad is a 32-year-old Entrepreneur and is passionate about Digital Marketing and Cryptocurrencies. He first started out as a content writer and then ventured into Internet Marketing. Bradley also works as a crypto investment advisor.

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