Decentral Block Post

Cardano (ADA) market has witnessed back-to-back pieces of good news since Aug. 31, from its listing on Robinhood, a U.S.-based retail investment platform, to the release of its first lending and borrowing protocol, Aada Finance.

Additionally, Cardano developer IOHK stated that they are close to clinching "three critical mass indicators" that would lead to the launch of their long-awaited Vasil hard fork in September. Vasil aims to improve Cardano's scalability and transaction throughput through pipelining.

The upgrade could also improve the decentralized application (DApp) and smart contract capabilities by changing the Plutus script, a programming language used for smart contracts on the Cardano blockchain.

But the uplifting updates have failed to attract adequate buyers as ADA's price trend in the last 24 hours reveals.

Bear market rally

On the daily chart, ADA's price rose to an intraday high of $0.462 on Sep. 1, a day after bouncing from its sessional low of $0.424, up nearly 9%.

ThCardano (ADA) market has witnessed back-to-back pieces of good news since Aug. 31, from its listing on Robinhood, a U.S.-based retail investment platform, to the release of its first lending and borrowing protocol, Aada Finance.

Additionally, Cardano developer IOHK stated that they are close to clinching "three critical mass indicators" that would lead to the launch of their long-awaited Vasil hard fork in September. Vasil aims to improve Cardano's scalability and transaction throughput through pipelining.

The upgrade could also improve the decentralized application (DApp) and smart contract capabilities by changing the Plutus script, a programming language used for smart contracts on the Cardano blockchain.

But the uplifting updates have failed to attract adequate buyers as ADA's price trend in the last 24 hours reveals.

Bear market rally

On the daily chart, ADA's price rose to an intraday high of $0.462 on Sep. 1, a day after bouncing from its sessional low of $0.424, up nearly 9%.

Bitcoin (BTC) faced familiar pressure on the Sept. 1 Wall Street open as the U.S. dollar hit fresh two-decade highs.

Trader: DXY could hit 115 before 'slowdown'

Data from Cointelegraph Markets Pro and TradingView followed BTC/USD as it fell to $19,658 on Bitstamp, down 2.7% from the day’s high.

The pair faced stiff resistance trying to flip the important $20,000 mark to solid support, with macro cues further complicating the picture for bulls.

That came in the form of a resurgent U.S. dollar index (DXY) on the day, which beat previous peaks to reach 109.97, its highest since September 2002.

Risk assets thus broadly lost ground, with the S&P 500 and Nasdaq Composite Index trading down 1% and 2%, respectively at the time of writing.