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Cardano's Vasil Hard Fork Approaches: Will ADA's Price Surge?

As Cardano's Vasil Hard Fork nears, ADA's price remains stable despite market fluctuations. Crypto experts predict a potential surge, with some targeting the $1 mark.
Published on 2022-09-20

Cardano's Vasil Hard Fork Nears

Cardano, now the eighth-largest cryptocurrency, is set to undergo its highly anticipated Vasil Hard Fork in just two days. This upgrade promises significant improvements to the network's capabilities, sparking optimism among investors and analysts.

ADA Price Trends

Despite the upcoming upgrade, ADA's price has shown limited movement over the past week, declining by 12% and dropping an additional 0.6% in the last 24 hours. The token has been trading within a narrow range since August 20, influenced by broader market downturns and delays in the hard fork timeline.

Expert Predictions

Crypto analyst Michael van de Poppe believes ADA could target the $1 level ahead of the upgrade, drawing comparisons to Ethereum's Merge event. He highlights the potential for a significant price rally if the Vasil Hard Fork is successfully implemented.

Whale Accumulation

Large ADA holders, or "whales," have been actively accumulating the token in anticipation of the upgrade. Over the past three months, addresses holding between 10,000 and 100,000 ADA have increased by 7%, signaling strong confidence in Cardano's future.

Market Outlook

While ADA's price has remained stagnant, the Vasil Hard Fork could act as a catalyst for a bullish breakout. Investors are closely watching the event, hoping for a repeat of the positive price action seen during Ethereum's Merge.

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