Cardano Price Sits Pretty At $0.5, Why A Breakout Is On The Horizon
August 12 2022 - 06:00PM
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Cardano has been one of the cryptocurrencies that have been able to
hold despite the market crash. With the recent recovery, the
digital asset has seen some movement, although it continues to
trend around the same level without any significant swings upward.
However, there are some things that are coming up for the network
that suggests there might be some upward movement happening soon.
The Awaited Vasil Upgrade The Cardano Vasil upgrade has been on
that has been in the works for a while. It is a hard fork that is
meant to make the network more developer-friendly, thereby
encouraging more people to build on the blockchain. Related
Reading: Will Ethereum Breach $2,000 Before The Merge? However, the
hard fork has been the victim of multiple postponements, which have
caused some shifts in the price of ADA. The first time the hard
fork was postponed was back in June due to bugs that were found in
the network. The next date had to be moved once more when the
developers of the network were still not done with the bugs, as
they wanted to make it safe to interact with. That has seen the
launch date of the hard fork moved to August. But unlike the last
two previous times that saw the upgrade postponed, Cardano founder
Charles Hoskinson has assured the community in a video that he does
not believe that there will be any more delays for the hard
fork. ADA trending at $0.5 | Source: ADAUSD on
TradingView.com Cardano founders recently released a document that
showed that they had made a decision on the final node for the hard
fork. The Node 1.35.3 had apparently fixed the pressing issues
found in previous versions that had delayed the launch and provided
some CLI enhancements according to them. So they expect the hard
fork to launch successfully on the mainnet with this node. Cardano
Price May Respond Well With a more definite answer on if the Vasil
hard fork is close to completion, Cardano investors are more
confident to begin making decisions regarding the token. ADA still
remains stagnant at $0.5, but present accumulation trends suggest
that there might be a turn in this soon. Related Reading: Ethereum
Price Forecast Remains Bullish As Network Nears Another Milestone
There is also the fact that the entire crypto market continues to
rally behind the anticipation of the Ethereum Merge. Ethereum
developers have said they expect the Merge to happen sometime in
September, and with the Vasil hard fork expected to go live
sometime before, it would put the two important upgrades close
together. Anticipation of both of these events will likely feed
each other, given they are both smart contract networks, and
trigger an upward push in price. If all launches go according to
plan, ADA is likely to hit $0.7 by the end of September. Featured
image from Zipmex, chart from TradingView.com Follow Best Owie on
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