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Crypto

Cardano Price Surges After Hydra Upgrade Despite Slumping TVL

Guavy AI Editorial Team
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ADA
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Cardano's price has surged by 2% to trade at $0.208 as of September 12, mirroring the broader crypto market's uptrend.

The upgrade to Hydra 2.4.1 on the Cardano network has addressed a fund-stealing vulnerability and enhanced security for users.

Despite this progress, the Total Value Locked (TVL) on Cardano has dropped below 300 million ADA, with active addresses counting just 12,204 at the time of writing.

The double bottom pattern in Cardano's price chart suggests a bullish future outlook, but closing above the resistance at $0.229 and the 200-day EMA of $0.241 is necessary for confirmation.

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