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Dcforecasts

07/31/2022

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Cardano Rises 5% In One Day Despite Vasil Hard Fork Delay

Cardano rises 5% in one day despite the delay of the Vasil Hard Fork as we can see more today in our latest Cardano ADA news. Cardano rises 5% and had no problems pulling up a surge today despite...

Cardano Rises 5% In One Day Despite Vasil Hard Fork Delay

Cardano rises 5% in one day despite the delay of the Vasil Hard Fork as we can see more today in our latest Cardano ADA news.

Cardano rises 5% and had no problems pulling up a surge today despite the daily of the Vasil Hard fork. The analysts predicted that the hard fork can ease Cardano out of the bearish stance but it seems that the coin is not struggling as much. Over the past 24 hours, Cardano rises 5%in one day and now trades at $0.58 along with the current market price momentum. In the past couple of weeks, ADA was seen to move as the coin was jerked sideways and brought about by the surging buying and selling pressure. ADA seems to be mirroring the current market trends so it adds and deletes value in moments.

Cardano ADA 24-hour Price Chart (Source: Coinmarketcap)

The Vasil Hard fork was supposed to be launched in June and then moved by the end of July but IOG as the developer made some announcements that there will be some delays and the upgrade will be rolled out to give way for a smooth transition. According to the Technical Manager of IHOK Kevin Hammon, the goal of the delay was to ensure that everyone is set for the upgrade including the stakeholders and exchange. The ADA outlook remained optimistic though as the network works to imrpove the network. The upgrade is expected to push the token to a new target of $1 and everyone is betting on the likelihood that ADA will surge once the upgrade is launched.

Cardano developed a strong community that supports the coin following the rollout of the smart contracts so its only weakness is the market crashing which can take ADA with it. Cardano was able to muster the ATH in 2021 when the coin surged at $3.10 but the plunge happened shortly and continued until ADA hit $0.51. The bearish sentiment for ADA is continuing and the CoinMarketCap community predicted that Cardano will trade at $0.7311 while others forecast that ADA could surge by 19%.

As recently reported, After failing to go live last month, Cardano’s Vasil hard fork is delayed once again with the team behind the blockchain development targeting a smooth network upgrade. Input Output Global is the organization responsible for Cardano’s research and development and released a new update on the upcoming hard fork.

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