Cardano (ADA) has been among the best-performing altcoins during the past couple of weeks. The coin surged to $0.50 on February 28 and happens to be trading at $0.58.
The increase in ADA prices could be related to the recent developments in the Cardano ecosystem. The Mary hard fork upgrade was successfully activated on March 1. The upgrade caused changes to the networks consensus algorithm, rendering it better and scalable.
Probably the most popular YouTube in the crypto space, The Coin Bureau host, tells his 2.1 million YouTube followers that the seventh-largest cryptocurrency by market capitalization is poised to go up by around 20% from current levels prior to the Vasil upgrade.
Vasil upgrade set to invite new Cardano Investors
Based on the Youtuber, the Vasil fork set for September 22 will enable staking on the Cardano network. This tends to bring about an influx of new investors and a growth in ADA prices.
Then theres Cardano, that is rallying for exactly the same reasons when i discussed before, with confirmation of a romantic date for the Vasil hard fork
I hope ADA will rebound to the $0.60 level in order that it can resume its medium-term uptrend. Given the renewed fascination with Cardano, I really believe it is a realistic goal the Youtuber said.
In accordance with coinmarketcap ADA happens to be trading at $0.4629 with a trading level of $865,791,619 and market capitalization of $20,830,606,591. The full total circulating ADA coins on the market is 34.18B ADA. During writing, Cardano was down 2.43% within the last 24 hours. It really is ranked seventh on CoinMarketCaps set of digital assets.
Cardanos price happens to be trading below the $0.50 level, that is a key resistance area. The $0.60 level may be the next key resistance area for the ADA bulls. If the purchase price can breakout above this level, it might take up a new uptrend which could result in gains of around 20%.
The Vasil hard fork is really a key event which could trigger a fresh wave of investment in Cardano. The fork is defined to activate on September 22 and can enable staking on the network. This may bring about an influx of new investors and a growth in ADA prices.