Cardano (ADA) Price Still Low Despite Enthusiasm Around Vasil Hard Fork, But Things Expected to Change Soon
The fuss around Vasil hard fork is still unable to propel Cardano (ADA) price for a surge.
There has been a lot of fuss around the upcoming Vasil hard fork. Members of the Cardano community are eagerly anticipating the launch of the upgrade, which is tipped to roll out significant improvements to the network.
With the Vasil hard fork, Cardano will offer cheaper and faster transactions, an improvement that will lure more developers to the network. Furthermore, Cardano’s scaling and smart contract functionality will be enhanced via the launch of Vasil.
Charles Hoskinson, the founder of Cardano, recently chose Vasil as his most defining moment of 2022, even though the update is yet to launch on Cardano’s mainnet.
“It’s always difficult to define one key moment but the Vasil hard fork is pretty significant,” Hoskinson said.
Although the upgrade was initially slated to launch last month, Cardano’s developer, Input Output Global (IOG), rescheduled Vasil’s mainnet launch to later this month.
According to the IOG team, the Vasil Hard Fork cannot afford to make the same mistake as other blockchains, with emphasis on the Terra incident.
Despite the delay of Vasil, the enthusiasm around the project has still not faded. As the end of July 2022, edges closer, Cardano enthusiasts are filled with excitement as they expect one of the most significant upgrades to the network.
ADA Remains Low Despite Buzz Around Vasil
However, the excitement around the Vasil upgrade is not being reflected in the price of Cardano’s native cryptocurrency, ADA.
Recall that ADA price skyrocketed a bit after the IOG announced the launch date of the Vasil mainnet launch. The rally was expected to continue as the date drew closer. However, this has not been the case, as the value of ADA has been relatively stagnant in the last seven days.
With Vasil close to going live later this month, ADA has maintained a low momentum, falling below $0.41 in the last 24 hours.
Although the value of ADA had soared to nearly $0.44 earlier today, the price movement of the cryptocurrency is still below expectation.
ADA Could Rally as Vasil Launch Date Edges Closer
Nevertheless, Vasil is still two weeks away from its scheduled mainnet launch, and anticipation is expected to build within this period. Thus, prompting the value of the cryptocurrency to soar in the coming days.
Anticipation will likely grow in the final week of July 2022 – the period when Vasil will launch on the Cardano mainnet. Hopefully, the value of ADA could soar above $0.5.
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