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Cardano (ADA) community is gearing up for a Vasil hard fork that will improve the scalability and overall usability of decentralized networks.in spite of progress crypto market Due to high volatility, there are predictions that upgrades are likely to trigger an increase in ADA prices.
In this line crypto trading Expert Michael van de Poppe believes the ADA will likely target $1 levels before the upgrade, noting that the asset hasn’t witnessed an upward move before the update. I am pointing out. Said In a YouTube video on Sept. 17.
According to Poppe, the lack of significant momentum in ADA prices ahead of the blockchain upgrade will be the main catalyst for potential upside after the Sept. 22 event.
With no clear uptick so far, there is basically no momentum or hype towards the Vasil hard fork. provide opportunities (ethereum) mergeIf so, a move towards $1 around this event would not be unexpected,” Poppe said.
Experts also compared Cardano upgrades with Ethereum Merge updates.buy rumors sell news‘ event. He noted that this may not be the case for the ADA as the market is about to embark on a bullish rally.
The standard concept of buying on rumor and selling on news may not apply here. bear market towards bull market This is why Cardano fell. <> It is not normal to assume that if a hard fork persists, it is getting a positive continuation based on that fundamental shift rather than a downward movement,” he added.
Interestingly, Poppe pointed out that ADA’s price was revised along with other altcoins as Etrheruem took the spotlight among Merge’s upgrades. Therefore, he expects the spotlight around Ethereum to fade and the altcoins to break out.
Notably, the hard fork will also include improvements to Plutus. Cardano’s smart contract platformThis change will enable developers to design more powerful and efficient blockchain-based apps. Notably, Cardano continues to record growth after launching his smart contract feature in 2021. The line had 3,002 Cardano-based smart contracts as of August 1st.
Overall, Cardano continues to record increased hiring activity and capital inflows ahead of Vasil’s hard fork.For example, on September 5th, Finnbolt report The ADA added over $2.1 billion in market capitalization within seven days.
At the same time, Cardano clearly A partnership with the Georgia National Wine Agency. The partnership between Bolnisi Winemakers Association and Scantrust aims to expand Georgia’s wine industry by implementing a traceability solution powered by the Cardano blockchain.
It is worth noting that the Cardano network has made significant progress since its inception to compete with established platforms like Ethereum.
Cardano is also witnessing increased activity in the non-fungible token space (NFTs).For example, as of September 8, the network was nearly 7,000NFT A project with 15 markets that attracted approximately $459 million in trading volume.
Watch the full interview below.
Disclaimer: The content of this site should not be considered investment advice. Investment is speculation. Your capital is at risk when you invest.
