Will The Vasil Hard Fork Trigger A Cardano (ADA) Bull Run?
2022年6月11日 - 2:00AM
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Cardano has been looking towards its most recent hard fork titled
the Vasil Hard Fork. This will improve not only the network
efficiency but is said to make the network more developer-friendly
as a whole. The countdown to the hard fork has been a source of
hope for many. Given that the price of Cardano’s native
cryptocurrency ADA has been struggling so hard, the hope is that
the launch of the hard fork will give it a nudge towards recovery.
Why Is Vasil Hard Fork Important? For a network like Cardano which
is seeing rapid growth, it becomes imperative for the network to
run even better than it already does. This includes better network
speed and of course, higher throughput and scalability to handle
all of the activity. With more than 1,000 projects being developed
on the network, Cardano is also looking to make the network more
developer-friendly. More projects are expected to jump on board
given its better functioning compared to Ethereum and the network
plans to accommodate all of these with ease. Related Reading
| Bitcoin Miner Revenues Stay Low As Price Decline Continues
There are still more than two weeks to go for the launch of the
Vasil hard fork on the mainnet but there are already a lot of talks
and hopes surrounding it. It is currently running on the Cardano
testnet, improving the efficiency of smart contracts. After the
June 29th launch, smart contracts on the Cardano network will be
cheaper and faster in terms of their functioning. ADA downtrend
continues | Source: ADAUSD on TradingView.com Vasil follows the
most significant hard fork yet on the Cardano network; the Alonzo
hard fork. Alonzo had brought smart contract capabilities to the
network. However, Vasil will build and improve on this foundation
to make it a more efficient network. Cardano (ADA) On The Charts
The price movements of Cardano (ADA) over the last six months have
been brutal. The digital asset which had peaked at $3.10 has simply
lost all of its holds causing it to crash down more than 80% from
this all-time high value. This has put the cryptocurrency in the
hands of the sellers and they continue to drag the price
down. ADA has, however, seen some significant recoveries
which have brought it close to its 50-day moving average. But as
long as it continues to trend below this line, the outlook is still
bearish for ADA. It is also significantly below its year-to-date
moving average and this, too, paints a bearish picture for the
altcoin. Related Reading | Bitcoin Decline Sees Funding Rates
Plunge To Three-Month Lows Nevertheless, investor outlook toward
the digital asset has been turning for the better. This is mostly
due to the anticipation around the Vasil hard fork. The growth of
the Cardano DeFi sector has also played a big role in this
improvement in positive sentiment. If this continues, ADA may see
the $1 mark before the month runs out. Featured image from
Bitcoinist, chart from TradingView.com Follow Best Owie on Twitter
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