In order to start smart contracts on Cardano, the Alonzo update will be made in July. Testing is currently underway before the update.
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In an interview, IOHK officials stated that the tests were successful and the Alonzo update was progressing as they wanted. They stated that they are ready for the update in July and that everything is progressing as planned.
Many ADA investors are following the Alonzo update closely. According to today's announcement, smart contracts will be available on Cardano as of July. If all goes as planned, ADA could hit new ATHs by July.
There has been a decline in cryptocurrencies for the last month. ADA reached around $2.5 in May, but the general decline in the cryptocurrency market also affected ADA. ADA dropped to $1 with a rapid decline, but later recovered. It is currently trading at $1.48. The room lost value to those affected by the fall again. Although the recent drop has upset ADA investors, it may make their investors happy after the Update.