ADA price forecast after Cardano’s Vasil hard fork went live on the testnet

By:
on Jul 4, 2022
  • The Cardano Vasil hard fork went live on the testnet according to the developers Input Output.
  • Once it completes on the mainnet, it will allow for faster block creation and greater scalability for dApps.
  • This upgrade will also enable interoperability between Cardano sidechains.

Cardano ADA/USD is a Proof-of-Stake (PoS) based blockchain platform where anyone is able to utilize the verifiable smart contract functionality and create their own decentralized applications (dApps).

All of this is powered by the usage of the native cryptocurrency, known as ADA.

Are you looking for fast-news, hot-tips and market analysis? Sign-up for the Invezz newsletter, today.

The successful launch of the Vasil hard fork on the testnet as a catalyst for growth

The much-anticipated and even at one point delayed Vasil hard fork finally went live on the Cardano testnet.

This brought the project a major step forward towards the upgrade becoming a reality on the mainnet and promising broad performance upgrades.

On April 14, 2022, we covered what we can expect after the Vasil hard fork.

However, project developers, stake pool operators (SPO), and exchanges are now encouraged to deploy their work on the testnet as a means of ensuring that the integrations run smoothly when the mainnet gets the Vasil hard fork within the span of the next four weeks. 

News about the upgrade on the testnet was officially posted by the developers, Input Output, on July 3, 2022.

Once the upgrade gets completed on the mainnet, it will allow for faster block creation as well as greater scalability when it comes to decentralized applications (dApps) that run on Cardano.

It will also enable interoperability between Cardano sidechains. 

Should you buy Cardano (ADA)?

On July 4, 2022, Cardano (ADA) had a value of $0.4482.

In order for us to get a better perspective as to what this value point indicates for the future of Cardano (ADA), we will be going over the cryptocurrency’s all-time high point of value, as well as its performance throughout the previous month.

The all-time high of Cardano (ADA) was on September 2, 2021, with a value of $3.09.

When we go over its performance in June, Cardano (ADA) had its highest point of value on June 8 with a value of $0.6646.

Its lowest point of value, however, was on June 18, with a value of $0.4318. Here we can see that the cryptocurrency decreased in value by $0.2328 or by 35%.

However, since then, the ADA cryptocurrency has seen an increase in its value of $0.0164 or by 3%.

With this in mind, we can expect ADA to climb to $0.8 by the end of July 2022 and go up to $1 when the Vasil hard fork goes live after four weeks, making it a worthwhile cryptocurrency to buy.

Where to buy right now

To invest simply and easily, users need a low-fee broker with a track record of reliability. The following brokers are highly rated, recognised worldwide, and safe to use:

  1. Etoro, trusted by over 13m users worldwide. Register here >
  2. Capital.com, simple, easy to use and regulated. Register here >

*Cryptoasset investing is unregulated in some EU countries and the UK. No consumer protection. Your capital is at risk.