The new Cardano upgrade was not as exciting as the last Ethereum upgrade. However, it could be the key to unlocking Cardano’s value, according to analysts at the consulting giant Fool.
Why is Cardano one of the best options for investment?
Cardano Vasil hard fork completed on September 22 as scheduled. The expected rise was not as exciting as the Ethereum ‘merge’. However, just like merge, Vasil brings radical changes for Cardano in hard fork. For this, we can examine the Vasil upgrade under two headings. The first is Vasil’s influence on smart contracts. However, a few changes over smart contracts and dApps so far don’t seem very significant.
Vasil, on the other hand, is specifically about making Cardano more developer-friendly and convincing more developers to build on the network. It will bring enhanced functionality, greater scalability, improved production capacity, and greater speed. Cardano bulls are optimistic about some projects Vasil and Cardano could double in value to $1.
#Vasil mainnet HFC event successful!🍾
We’re happy to announce that today, at 21:44:00 UTC, the IOG team, in collaboration with the @CardanoStiftung, successfully hard forked the Cardano mainnet via a HFC event, thus deploying new #Vasil features to the chain.
🧶1/5— Input Output (@InputOutputHK) September 22, 2022
Looking at Ethereum’s merger rise, the hype has been used as a classic “buy the rumor, sell the news” situation. In the week after the upgrade, the Ethereum price dropped about 15%. After a summer of “merge spree”, it’s back to thinking more rationally about the problems and pitfalls for any crypto.
That’s what makes the Cardano upgrade interesting. There was literally zero speculative scum going towards the Vasil ascent. If you look at a chart for Cardano over the past few months, it was trading in a fairly narrow band of $0.40 to $0.60 for the entire time frame. Without a lot of momentum for upgrading, a massive explosion was unlikely to follow.
Slow and calm wins the race
cryptocoin.com As we have included in our analysis, ADA has not exceeded an excessive price increase so far. Cardano is built for long-term investors, not short-term speculators. Over the last five years, it has proven to be a reliable Blockchain project. In fact, it recently passed the 50 million transaction milestone. It currently processes more than 50,000 transactions per day. There are clear signs that Cardano is expanding its developer community and seeing further growth in Blockchain thanks to past updates.
Also, ADA is earning where investors don’t usually focus. Most investors want to see big brand partnerships and celebrity sponsorships. They like the bankruptcy mentality that accompanies many emerging cryptos. However, Cardano has declared itself “the financial operating system for the world”. She has advocated for environmental sustainability and partnered with organizations in the developing world. Probably Cardano is the most important blockchain project in Africa right now.
All in all, disappointment for investors looking for a sudden price increase in ADA, according to Fool’s analysts. However, if you are looking at the long-term future of the blockchain industry and the power of crypto to change the world’s financial system, you will have reason to be optimistic about Cardano. According to analysts, being able to buy Cardano at today’s prices is a historic opportunity. The analyst expects near 2x performance over the next 12 months from the Cardano price.
