Buying and selling Knowledgeable Says Cardano Heading for $1 in Vasil Onerous Fork – Finbold – Finance in Daring sport

The Cardano (ADA) community is preparing for the Vasil hard fork that will improve the scalability and overall usability of the decentralized network. Despite the continued volatility of the crypto market, there are predictions that the upgrade is likely to trigger a rally in ADA price.

In this regard, crypto trading expert Michaël van de Poppe believes ADA is likely to target the $1 level before the upgrade, noting that the asset has not seen any bullish movement before the update, he said in a YouTube video on September 17th.

According to Poppe, the lack of significant momentum in ADA price ahead of the blockchain upgrade will be the main catalyst for a potential rally after the September 22 event.

“We have basically no momentum and hype towards the Vasil hard fork as no clear uptrend has occurred before. This brings with it tremendous opportunities if the Vasil hard fork is to take place in a positive manner very similar to the Ethereum (ETH) merger. In that case, a run towards $1 in this event is not unexpected,” said Poppe.

The Difference Between Vasil Hard Fork and Merge

The expert also compared the Cardano upgrade and the Ethereum Merge update, which turned out to be a “buy the rumor sell the news” event. He noted that this may not be the case for ADA as the market attempts to start a bullish rally.

The standard “buy the rumor, sell the news” concept may not apply here as we are looking at a possible bear market to bull market switch that caused Cardano to tumble. <…> If the hard fork persists, it would not be normal to assume that we will get positive continuation instead of down moves based on this fundamental shift,” he added.

Interestingly, Poppe pointed out that ADA’s price corrected alongside other altcoins as Ethrheruem took the spotlight as part of the merge upgrade. As such, he expects the spotlight around Ethereum to fade as altcoins are ready to break out.

Notably, the hard fork will also include improvements to Plutus, Cardano’s smart contract platform. The changes will allow developers to design blockchain-based apps that are more powerful and efficient. Notably, Cardano continues to see growth following the launch of the smart contracts feature in 2021. In this line, Cardano-based smart contracts stood at 3,002 on August 1st.

Overall, Cardano continues to see increased adoption activity and capital inflows ahead of the Vasil hard fork. For example, on Sept. 5, Finbold reported that ADA added over $2.1 billion in market cap in seven days.

Cradano’s increasing acceptance

At the same time, Cardano announced that it has partnered with the Georgia National Wine Agency. The partnership with the Bolnisi Winemakers Association and Scantrust aims to expand the Georgian wine industry by implementing a traceability solution based on the Cardano blockchain.

It is worth noting that since its inception, the Cardano network has undergone significant evolutions to rival established platforms such as Ethereum.

Cardano is also seeing increased activity in the non-fungible tokens (NFTs) space. For example, as of September 8, the network had nearly 7,000 NFT projects across 15 marketplaces, which attracted approximately $459 million in trading volume.

Watch the full interview below:

Disclaimer: The content of this website should not be construed as investment advice. Investing is speculative. When investing, your capital is at risk.


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