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Cardano Ecosystem

Cryptogazette

07/07/2022

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Cardano Upgrade To Boost ADA, New Reports Claim

There are all kinds of optimistic predictions about the prices of some important digital assets these days. Check out the latest ones about Cardano below. New optimistic ADA prediction is out A popular crypto analyst... The post Cardano Upgrade...

Cardano Upgrade To Boost ADA, New Reports Claim

There are all kinds of optimistic predictions about the prices of some important digital assets these days. Check out the latest ones about Cardano below.

New optimistic ADA prediction is out

A popular crypto analyst is laying out the bullish case for Cardano (ADA) with the Ethereum rival’s new Vasil upgrade coming soon.

In a new video update, the pseudonymous host of Coin Bureau known as Guy made sure to highlight the fact that Cardano’s imminent Vasil upgrade is bound to affect ADA’s price.

“Assuming all goes smoothly, Vasil’s upgrades could be live on the mainnet as soon as late July. As it so happens, the Vasil testnet actually began late last night.”

He continued and said the following:

“But, it should be cautioned, that this could be a bearish event should any serious issues be discovered. This was the case of the Alonso testnet in September last year which introduced Cardano’s smart contract functionality…”

He also said this:

“Cardano’s smart contract functionality was initially fairly simple, to put it mildly. And this meant that it was very difficult for decentralized applications to actually deploy.”

Last week, Cardano development firm Input Output Hong Kong (IOHK) announced that the hard fork from the testnet to the mainnet would begin on July 3rd.

At the moment of writing this article, ADA is trading in the green and the coin is priced at $0.457.

Cardano FOMO new reports are out

A leading crypto analytics firm says trader sentiment on Cardano (ADA) isn’t high right now, and this could change soon.

In their latest analysis, Santiment notes Cardano is currently witnessing the highest amount of unique addresses interacting on its network in a year.

“On top of this, sentiment on social platforms has fallen to a 4-month low. When ADA spikes again, FOMO should return quickly.”

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