A $ 600 million protocol stunt, the advancement of a bearish crypto bill in Congress, and a $ 100 million regulatory deal by BitMEX did nothing to curb enthusiasm for cryptocurrency buyers.

Case in point: gimbal.

Competitor Ethereum, which is scoffing at the introduction of smart contracts, saw its native currency, ADA, rise in price by more than 12% in 24 hours to stabilize above $ 1.65. He hasn’t seen such heights since the first week of June.

In an “announcement announcement,” Cardano founder Charles Hoskinson said today that he hopes to reveal the date when smart contracts will be launched on the Cardano mainnet. “We will be able to announce when the Alonzo hard fork will take place and at that time you will be able to execute smart contracts on Cardano,” he told viewers on Periscope.

Hoskinson said the fork will come before the Cardano Summit, currently scheduled for next month.

Cardano has gradually added features since it was activated in 2017. Like Ethereum, for example, it allows non-fungible tokens (NFTs), what are they? blockchain based on tokens that indicate a deed of ownership of a digital asset.

Alonzo rigid fork will be one of the most important updates to the network play test because it will facilitate the introduction of decentralized finance (DeFi), protocols that allow people to lend, borrow and trade without intermediaries. Instead of loan officers and underwriters, DeFi relies on smart contracts, programs that run if certain conditions are met.

While ADA had the biggest move of the top 10 assets in the last 24 hours, most currencies had a decent, if unspectacular day. Ethereum was slightly up, Binance Coin raised a 4% increase, and Uniswap took 3% of the gains. Bitcoin is down 1%.

Read also PBOC issues a warning to prevent and eliminate the risks of cryptocurrency speculation.

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