Cardano Vasil is the most-anticipated upgrade in crypto, just behind Ethereum Merge. The Cardano network is equally important as the hard fork. It not only enhances the user experience, but also increases the security and reliability of the blockchain. Now, September has been designated as the month for the hardfork. The most recent IOG announcement shows that the network may be close to reaching this milestone.
Vasil is on the horizon at top exchanges
IOG, who is the creator of the Cardano network had previously stated that the fork needed to meet three metrics. They required that 75% or more of all SPOs had upgraded to the latest version of the last node. The top 10 decentralized apps (DApps), which represent 80% of all ADA liquidity, would also have been upgraded. Finally, it was necessary that at most 25 exchanges, which account for at least 25% of the ADA liquidity, would be ready for the upgrade.
These first two metrics were quickly met. These requirements were not difficult to meet, as the SPOs/DApps had to perform them. This is the hardest part. Some exchanges however have taken the bull at the horns.
The list of top exchanges that have reported readiness for VasilGate.io is OKX and BTCTurk are WhiteBit. All exchanges now have the ability to accept ADA post hard fork. IOG posted this information on Tuesday, along with additional details about 94% of blocks being produced by Vasil-friendly Nodes. Bitrue, NDAX and LCX are some of the exchanges that reported being ready. Binance and Kraken as well as Bitfinex, Hotbit and Hotbit are all believed to be in the process for adding Cardano support post-upgrade.
Cardano Will Break the $1 Mark?
Since ADA’s record-breaking $3.10 price, there has been a steady downtrend. The Vasil hardfork offers similar potential, much like smart contract capability was brought to the network by the news about the hardfork.
This trend was evident back in July after the announcement of the hard fork. ADA’s price had rallied above $0.5 before the news of postponement had dropped. A date has been established for the hard fork. This will most likely lead to an increase in digital assets.
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It is unlikely that ADA’s price will ever reach $1. To reach the $1 mark, the digital asset must grow at a rate of 100%. This level is impossible to achieve given current market trends.
If investor sentiment changes at this stage, $0.6 would be a better price. However, ADA would require significant buy pressure in order to achieve this level within the next 2 week.
Featured image by Finbold. Chart from TradingView.com
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