Cardano Price Surges 8.14% as Leios Upgrade Sets Sights on 1,000 TPS
The Cardano price has seen an 8.14% increase over the past 24 hours, reaching $0.2191. This surge in value comes as developers from IOG have successfully tested the Ouroboros Leios upgrade, achieving a transaction throughput rate of approximately 1,000 TPS.
The Ouroboros Leios upgrade aims to significantly increase the network's scalability, enabling it to handle a larger number of transactions and applications. Currently, Cardano's mainnet can process around 10 TPS, according to Cexplorer.
The technical framework suggests that the price momentum is positive, with the RSI at 58.23 and above the moving-average RSI of 52.95. However, it's essential to note that the Leios development itself did not cause the price increase but rather provided a fundamental catalyst that coincides with the current positive price momentum.