Ethereum‘Fame (ETH) co-founder Charles Hoskinson Released by Ethereum to rival Ethereum Cardano (ADA), In a short time, it managed to become one of the largest cryptocurrencies. The decentralized finance-focused and smart-contract-based project is getting ready for an important update.
The price increase seen in periods similar to this update gives Cardano investors a very important clue.
Cardano is on the agenda with the big update
Cardano has been in a positive mood in the last few days and altcoins rose among them. ISLAND The main reason for this mobility of the price was the hard fork news given recently. The Cardano team announced the Vasil hard fork. Looking at the statistics about Cardano, this announcement may actually be a buying opportunity.
Shelley, then Mary and finally Alonzo hard forks, which Cardano had previously implemented in July 2020, have always brought price increases. Except for Alonzo, it can be clearly seen from the chart below that the price has experienced a serious movement especially after the hard forks.
It is known that the Alonzo hard fork was ineffective because it could not create the expected effect.
Now the developers have set a date for the Vasil hard fork to June 2022, and the price may experience volatility both before and after. Looking at the ADA price, it is seen that the price has increased by 30% compared to last week.
If the hard fork is successful and has the expected effect, it may increase the price, and if it does not have the expected effect, it may seriously reduce the price.