ICYMI: Cardano might hit a significant interoperability milestone amid the launch of EVM compatible Layer 2 ADA $ADA CardanoCommunity
protocol, launched a bridge testnet between Cardano and Ethereum. Now, the bridge is expected to go live in mainnet.
Once deployed, assets can be sent back and forth between the two blockchains via the bridge. Milkomeda will work to achieve both sidechain and multi-blockchain interoperability visions. Users holding tokens on the connected chain can move these assets to Cardano and vice versa, simply by wrapping them on the sidechain that links the two blockchains. These tokens become native assets on Cardano mainnet and perform the same functions as native assets on Cardano, once wrapped.ADA was trading at $1.12 at the time of publication, up 3.05% on the day. By market value, ADA is the seventh-largest cryptocurrency, with a 28.79% drop in the last seven days.
After a drop to the $1.07 level the day before, ADA recovered to highs of $1.14 as seen at press time. ADA has rallied more than 80% since hitting lows of $0.80 on March 15. ADA rose above the crucial barrier at $0.95 to climb higher. As it stands, ADA might be forming a bullish pennant that might lead to a continuation of its upside move. In this case, the next barrier is at $1.52, while support remains at $0.95.
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