Cardano’s Mithril Update Sparks $100 Price Target Predictions

• Many believe the Mithril upgrade could lead to ADA’s price rising to as high as $100.
• At press time, ADA was worth about $0.2966 after its price slipped by 0.48% over the past 24 hours.
• ADA breaking above the $0.7186 resistance level may ignite a bullish rally that will see ADA’s price soar to above $1.

Cardano (ADA) announced that its highly-anticipated Mithril upgrade went live over the past 2 weeks. Shortly after the announcement, many investors and traders started speculating that the upgrade could drive ADA’s price up.

The Mithril upgrade, which was introduced on 30 July 2023, represents a noteworthy achievement for ADA’s Proof-of-Stake blockchain. Its primary goal is to transform the synchronization process of nodes within the blockchain. Furthermore, it empowers users to access the current blockchain state without the need to fetch its complete historical data.

This upgrade drew the attention of the cryptocurrency market, and left many in the industry wondering what the upgrade’s impact will be on the price of ADA. Some people even went as far as to predict that ADA could reach a staggering price of $100.

Although this seems like a major …

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