Cardano was one of those cryptocurrencies that managed to keep their value despite the recent market crash. The digital asset is showing some improvement with the recovery. However, it still tends to stay at the same level, without significant moves upward. There are signs that there may be some movement soon for the network, however.
Vasil Upgrade
Cardano Vasil’s upgrade is now live. It has been planned for quite some time. The hard fork will make the blockchain more accessible to developers and allow more people to create on it.
Multiple postponements have made the hard fork a victim to price swings. In June, bugs in the network caused the first postponement of the hard fork. Because the developers wanted the network to remain safe for users to use, the next date was moved.
The launch date for the hard fork has been moved up to August. Charles Hoskinson from Cardano, the founder of the company, has said in a video that he doesn’t believe there will be more delays to the hard fork.
Source: ADAUSD from TradingView.com| Source: ADAUSD on TradingView.com
Cardano founders released recently a document showing that they have made a decision about the final node to be used for the hard fork. They claimed that Node 1.35.3 fixed some of the issues with previous versions, which caused delays in launch. The hard fork is expected to successfully launch on the mainnet using this node.
Cardano Price May Respond Well
Cardano investors will feel more comfortable making decision regarding their token once they know if Vasil’s hard fork has been completed. ADA remains at $0.5, though accumulation trends show that this might change soon.
The Ethereum Merge is still in the horizon, and the whole crypto market has rallied behind it. According to Ethereum developers, the Merge is expected to occur sometime in September. The Vasil hard fork, which was scheduled to launch sometime earlier, would allow the two upgrades to come together.
These events, which are both smart contract networks with a price increase, will be anticipated and fed by each other. If everything goes as planned, ADA should reach $0.7 by September’s end.
Featured image by Zipmex. Chart from TradingView.com
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