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Is ADA’s Price Improving As Cardano’s Vasil Hard Fork Approaches?

Cryptocurrency Sep 20, 2022 10:00AM ET
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Is ADA’s Price Improving As Cardano’s Vasil Hard Fork Approaches?
 
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  • As the vasil hard fork approaches, ADA’s price is still pretty much unmovable.
  • Crypto expert Michael van de Poppe thinks ADA will hit $1.
  • ADA whales continue to accumulate massive amounts of the coin.

Cardano (ADA), which is now the eighth-largest cryptocurrency in the world, is anticipating a significant upgrade, called Vasil Hard Fork, in only two days’ time. It is expected that the update would result in major improvements and enhancements to Cardano’s capabilities.

The value of ADA, Cardano’s native token, has been on a downward trend for the previous week, falling by a total of 12% and falling by 0.6% in the most recent twenty-four-hour period.

The price of ADA is anticipated by crypto experts to increase as the hard fork approaches. A well-known cryptocurrency expert by the name of Michael van de Poppe, for instance, is of the opinion that the token will most likely aim for the level of $1 prior to the upgrade, observing that the asset has not had any upward movement prior to the update.

Speaking about the developments, the analyst says:

This brings massive opportunities if the Vasil hard fork is going to take place in a positive manner which is quite similar to the Merge. In that case, a run towards $1 isn’t unexpected around this event.

Since the 20th of August, ADA has been trading within a somewhat narrow range. The decrease in the broader cryptocurrency market as well as the constant delay of the Vasil hardfork until the developers ultimately decided on September 22nd are to blame for the absence of meaningful price activity.

Over the course of the last three months, major stakeholders that own ADA have significantly increased their coin collection in anticipation for the hard fork. There has also been a 7% increase in the number of addresses that contain between 10,000 and 100,000 ADA tokens.

The post Is ADA’s Price Improving As Cardano’s Vasil Hard Fork Approaches? appeared first on Coin Edition.

See original on CoinEdition

Is ADA’s Price Improving As Cardano’s Vasil Hard Fork Approaches?
 

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