A popular cryptanalyst presents the bullish case for Cardano (ADA) with Ethereum rival’s new Vasil upgrade coming soon.
In a new video update, the pseudonymous host of the Coin Bureau known as Guy’s 2.08 million subscribers says that Cardano’s upcoming Vasil upgrade will have to affect ADA’s price.
“Assuming everything goes smoothly, Vasil’s upgrades can be live on the main network as soon as the end of July. As it happens, the Vasil test network actually started late last night.
However, it should be warned that this can be a bearish event if any serious issues are detected. This was the case with Alonso’s test network in September last year, which introduced Cardano̵[ads1]7;s smart contract functionality …
Cardano’s smart contract functionality was initially quite simple, to say the least. And this meant that it was very difficult for decentralized applications to actually distribute. “
Last week, Cardano development company Input Output Hong Kong (IOHK) announced that the hard fork from the test network to the main network would begin on July 3.
While current market conditions make a parabolic rally for the ADA unlikely, the Coin Bureau host says the upgrade could be significantly bullish for the Ethereum challenger.
The good news is that in this case, expectations around Vasil hard-fork appear to be a bit tamer, which could potentially make the test network, and especially the main network, an extremely bullish event if the improved scalability it is expected to bring exceeds expectations. both users and developers.
Still, the sad reality is that we are in a crypto bear market, and with so little attention to altcoins these days, it is unlikely that the ADA will see a meteoric rise soon. “
Cardano is trading at $ 0.46 at the time of writing, up 3.4% over the last 24 hours.
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