Cardano (ADA) price increased by 9% over the weekend after the Artificial Super Intelligence Alliance (ASI) announced that its native token FET is now available on the Cardano blockchain. This development has rekindled interest in the ecosystem, and other ADA on-chain metrics have also seen significant movement.

On September 7, the ASI alliance announced that FET is now available on the Cardano blockchain. FET will now be rebranded as Cardano’s native token (CNT) and will provide better integration with the ADA ecosystem.

This announcement has led to ADA active addresses reaching a 5-month high. According to Santiment data, active addresses reached 52,077 on September 7. This increase could help ADA develop a positive short-term trend.

ADA price rose to $0.35 on September 9. If ADA can break above the 200-day EMA on the 4-hour chart, it could retest $0.40 in the coming days.

What do you think about these developments? Share your views in the comments.