Cardano (ADA) Price Fails To Break $0.5 Despite Vasil Hype

Cardano Vail’s hard fork is in preparation for quite some time. Although the hype for the hard fork has been well-known, it was eclipsed by the Ethereum Merge. Now, however, the attention is back on Cardano. There has been optimism regarding the future price of ADA, however, the asset’s digital assets have not shown any signs of positive change.

ADA Failed To Move

Investors are expecting the market rally that came before the Ethereum Merge with the Cardano Vasil fork. The price of ADA continues to trend lower, but it hasn’t responded in the same manner. 

It has seen several drops in value over this period, which has brought its current price down to $0.44. There hasn’t been a significant rise in price for digital assets despite news about the hard fork. Instead, ADA succumbed the market trends and is still in red. 

Over the last 24 hour, ADA’s price has been falling. The price of ADA has fallen 10.76% in the past day, and it is currently down 14.41% for a longer period of time. The digital asset is still holding off on the $0.5 mark due to the bearish outlook.

Cardano (ADA) price chart from chart from

Cardano faces considerable resistance right now at $0.47. It is not easy pickings for bears because the support levels for digital assets aren’t as strong as they expected. The odds that ADA will reach $0.5 are decreasing every day.

Cardano Hard Fork Coming Up

Cardano founder Charles Hoskinson assures the community that everything goes according to plan. In a statement, the founder stated that this was “the plan”. live broadcastThe video attracted more than 44,000 viewers. In it, he explained how the hard fork was actually activated. 

These statements indicate that all requirements have been met for the Merge, which means the fork can be completed. IOG, the developer of Cardano, also released statements that spoke to the readyness for upgrade.

IOG explainedThe upgrade will make it easier for developers to use the network. The upgrade will bring about greater functionality, performance and scaleability. Now, the Vasil hardfork is the most anticipated upgrade within the crypto space.

Concerning the price of ADA tokens, there is still a lot of selling pressure. Due to a decrease in demand, tokens have a lower value than they did one year ago. Cardano remains the dominant cryptocurrency and is ranked 8th with a market value of $14.94 Billion.

Featured image taken from CNBCTV18. Chart via

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