Cardano Vasil update is almost ready, what will the ADA rate do?
The long-awaited Vasil update on it Cardano (ADA) is just over two weeks away from us. Meanwhile, more than 15 major exchanges are already ready... The post Cardano Vasil update is almost ready, what will the ADA rate do?...
The long-awaited Vasil update on it Cardano (ADA) is just over two weeks away from us. Meanwhile, more than 15 major exchanges are already ready to receive the major update and the preparation is almost complete.
Cardano Vasil hard fork
The Vasil hard fork requires exchanges to cooperate. Fortunately, it all goes very smoothly. Meanwhile, most major exchanges have already announced that they are ready for the Vasil update on September 22.
According to the Cardano company, Input Output Hong Kong (IOHK), one of the three conditions before Vasil can be launched on the mainnet is that at least 25 exchanges indicate that they are ready. So there are now 15.
#ReadyForVasil: In the last 24h the following exchanges reported their readiness for #Cardano‘s most ambitious update program to date:@BKEXGlobal@BitkubOfficial@BitMartExchange@litebiteu
Stay up to date with news on #Vasil via our dedicated page:https://t.co/zXgraBziMx
— Input Output (@InputOutputHK) September 8, 2022
Another requirement is that 75% of all blocks on the mainnet are created by the latest version of the Vasil node, 1.35.3. According to the Cardano team, this is now 94%! This means that this condition has already been amply met.
The last crucial condition is that the 10 largest dApps have indicated that they have been upgraded to 1.35.3 and are ready for the mainnet.
Once all three conditions are met, the team behind Cardano will launch the Vasil hard fork on Cardano’s main network. This will bring major improvements to the network, including better scalability and lower costs.
The ADA rate
However, we do not necessarily see that reflected in the price of ADA. Although ADA has risen slightly more than 20% since the end of August, the share price has been stable since the all time high in September of 2021 still more than 80% underwater. Perhaps the Vasil update will finally change this.
On Twitter we asked our followers what they expect the ADA to do as a result of the Vasil update. A majority of 57% believe ADA’s share price will rise! Only 7% believe that the Vasil update will cause the price to fall further.
👨💻The long-awaited #Cardano update #VASIL coming this month. What will this mean with the #ADA do course📊?
— Crypto Insiders (@CryptoinsidersS) September 10, 2022
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