Trading expert says Cardano is heading towards $1 in gaming around Vasil’s hard fork

The Cardano (ADA) community is preparing for a Vasil hard fork that will improve the scalability and overall usability of the decentralized network. Despite the ongoing volatility in the cryptocurrency market, there are speculations that the upgrade is likely to lead to an uptick in the price of ADA.

Along these lines, crypto-trading expert Michael van de Poppe believes that ADA is likely to target the $1 level before the upgrade, noting that the asset did not see any upward movement prior to the upgrade, he said in a YouTube video on September 17.

According to Poppe, the lack of significant momentum in the ADA price ahead of the blockchain upgrade will be the primary catalyst for a potential rally after the September 22 event.

“We don’t have any momentum or hype going towards the Vasil hard fork because there hasn’t been any obvious upward drive before. This gives great opportunities if the Vasil hard fork happens in a positive manner much like an Ethereum (ETH) merger. If so, then the rush. About a dollar isn’t unexpected about this event, Bob said.

Fasil Hard Fork Teams From Dmg

The expert also compared the Cardano upgrade to the Ethereum Merge update which turned out to be “rumor buying and news selling.” He noted that this may not be the case for the ADA as the market attempts to start a bullish rally.

“The concept of ‘buy the rumor, sell the news’ may not be the case here because we are looking at a possible turn in a bear market into a bull market that caused Cardano’s downfall. <...> He added that if the hard split continues, it would not be natural to assume that we will get a positive continuation based on the fundamental shift rather than the downward movement.

Interestingly, Poppe noted that the ADA price had corrected along with other altcoins when Etrheruem was highlighted in the midst of the Merge upgrade. Therefore, the lights surrounding Ethereum are expected to fade as altcoins prepare to explode.

Notably, the hard fork will also include improvements to Plutus’ smart contract platform. The changes will enable developers to design blockchain-based applications that are more robust and efficient. Cardano continues to record growth following the launch of the smart contract feature in 2021. Along these lines, Cardano-based smart contracts totaled as of August 1, 3002.

Overall, Cardano continued to see increased adoption activity and capital inflows ahead of the Fassel hard fork. For example, on September 5, Coinphony reported that ADA has added more than $2.1 billion in market capitalization in seven days.

Increased adoption of Cardano

Meanwhile, Cardano revealed that it has partnered with Georgia’s National Wine Agency. The partnership with Bolnisi Winemakers Association and Scantrust aims to expand the wine industry in Georgia by implementing a traceability solution powered by the Cardano blockchain.

It is worth noting that since its inception, the Cardano network has seen significant developments in an effort to use stable platforms such as Ethereum.

Cardano is also seeing increased activity in the non-fungible token (NFT) space. For example, as of September 8, the network had nearly 7,000 NFT projects with 15 markets that had attracted a trading volume of about $459 million.

See the full interview below:

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Tradingexpert says Cardano drove about $1 in games about Vasil hard fork first appearing on Coinphony.

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