Can Cardano’s July hard fork prevent ADA price from plunging 60%?

It is also trading well below the 50-day moving average, triggering bearish sentiment what is a hard fork among investors. Crypto-assets are very high risk, speculative investments.

It is still holding steady at $0.44 without much movement. The digital asset is also trading at a level below the 50-day moving median, which triggers bearish sentiment from investors. This is especially true considering that Cardano’s community has been waiting for the update for over two months. Cardano moves closer each day to one its most crucial upgrades, the Vasil Fork. IOG had identified three key milestones for the network to achieve in order to trigger the hard fork. As the developer confirms, it is more likely than ever that the upgrade will be triggered now that all three of its metrics have been achieved. So we’ll rise into the HF on 22 September….than sell the news i guess like always…..or we’ll make a bottom and rise further all over the 1$ wall….

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With the current markets you never know but we are definitely in a crypto & market bear market right now…. Usha is a diehard crypto enthusiast and has been actively writing on different facets of the blockchain and crypto world. She has authored many research articles on cryptocurrency and aims to provide informational and quality content to readers. She firmly believes that crypto has a great potential to redefine the world of finance and blockchain. In spite of the price drop, Cardano was still able to gain over 500,000 new holdings in the previous six months. Even the upgrade’s delay was unable to convince ADA fans to change their minds.

The newfound functionality will attract more developers to the network, enhancing network growth. Moreover, the ease of use could see developers that have used other layer1 platforms migrating to Cardano. Vasil, the upcoming Cardano hard fork, may happen sooner than anticipated because IOHK and its creator Adam Dean are enthusiastic about it. As a result, the price of Cardano soared by more than 3% in just two hours and more than 5% over the course of the last day. ADA outperformed the top 10 cryptocurrencies during writing in 24-hour gains.

Cardano Devs to Launch Vasil on Mainnet in 19 Days

The number of Cardano wallets and implemented smart contracts on the network supported the same positive prognosis. Cardano Blockchain Insights reports that 3,105 Plutus-based smart contracts have been put into use on the network. Two significant milestones were achieved by Cardano , one of the most advanced crypto networks, before the much anticipated, as well as delayed hard fork. The community anticipated that the Vasil update would result in a huge performance gain.

• Cardano community is radically waiting for the Vasil Hard Fork.
• She has authored many research articles on cryptocurrency and aims to provide informational and quality content to readers.
• On April 14, 2022, we covered what we can expect after the Vasil hard fork.
• As of the time of this writing, the team confirmed that more than 80% of all mainnet blocks are now being produced by Vasil nodes.
• ADA has risen close to 10% during the past seven days, and presently ADA is the eighth largest crypto market capitalization with a $16 billion market cap.
• As part of the Cardano Basho phase on the Cardano roadmap, the goals of the Vasil hard fork reflect basho – scaling and optimisation.

Notably, ADA’s market worth was roughly around $15 billion area until Cardano developer and operator Input Output Global announced on Twitter on September 2 that the Vasil upgrade date is confirmed. As August arrives, I am going to do my best to take a break but will continue to ensure that there is plenty of engaging content for you to enjoy online. The great news is that the print version of City AM will return – assuming no second wave – to the City of London on the 7th September and Crypto AM should once again be in print on Tuesday, 8th September.

ADA Cardano Hat (Embroidered Dad hat), Crypto Hat, Coin Cap

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This website may have financial affiliations with some of the brands and companies mentioned on this website. The responsibility of our readers who may click links in our content and ultimately sign up for that product or service is their own. The alt maintains low momentum, and its price is yet to present significant recoveries. ADA kept downtrends within the previous seven days, hitting the $0.42 lows. During the implementation, Vasil will dock CIP-31 , CIP-32 , CIP-33 , and CIP-40 .

Cardano Ada hat, trucker cap embroidered

While The Merge is expected to take place in just over ten days’ time, Cardano’s hard fork called Vasil now has a scheduled date. The highly anticipated Cardano fork will take place on September 22, or roughly nine days after Ethereum transitions from proof-of-work to proof-of-stake .

• In fact, the growth rate of FluidTokens, that is a DeFi lending platform that enables users to lend or borrow using CNFTs as collateral, was 54,000% over the previous month.
• If you are an advanced trader, you can use this method to buy ADA.
• Transfer funds directly from your bank account directly to coinpass.com.
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• Stake pool operators are also updating at a gradual speed, signalling that the Vasil upgrade will be executed on time without further delays.

Author: Jacob Passy