According to a trading expert, Cardano could hit $1 around the Vasil hard fork.

The difference between the Vasil hard fork and the Fusion

The expert also compared the Cardano upgrade and the Ethereum merger update which turned out to be a “buy the rumour, sell the news” event. He noted that this might not be the case for ADA as the market attempts to embark on a bullish rally.

“The standard concept of ‘buy the rumour, sell the news’ might not be the case here as we are looking at a potential shift from the bear market to a bull market which has taken Cardano down. If the hard fork holds, it would not be normal to assume that we are getting a positive continuation based on this fundamental shift instead of downward moves,” he added.

Interestingly, Poppe pointed out that ADA’s price corrected along with other altcoins as Etrheruem caught the eye as part of the merger upgrade. So he expects the spotlight on Ethereum to go out and altcoins to be ready to go.

Notably, the hard fork will also include improvements to Plutus, Cardano’s smart contract platform. These changes will allow developers to design blockchain-based applications that are more powerful and efficient. Notably, Cardano continues to register growth after launching the smart contracts feature in 2021. In this line, as of August 1, Cardano-based smart contracts numbered 3,002.

Overall, Cardano continued to see increased adoption activity and capital inflow ahead of the Vasil hard fork. For example, on September 5, Theinquirer reported that ADA added over $2.1 billion in market capitalization in seven days.

Increased Adoption of Cradano

At the same time, Cardano revealed that it had formed a partnership with the State Wine Agency of Georgia. The partnership with the Bolnisi Winemakers Association and Scantrust aims to develop the Georgian wine industry by implementing a traceability solution powered by the Cardano blockchain.

It should be noted that since its inception, the Cardano network has seen significant developments with the aim of taking on well-established platforms like Ethereum.

Cardano is also witnessing increased activity in the non-fungible token (NFT) space. For example, as of September 8, the network had nearly 7,000 NFT projects with 15 marketplaces that attracted a trading volume of approximately $459 million.

Watch the full interview below:

Disclaimer: The content of this site should not be considered investment advice. Investing is a speculative activity. When you invest, your capital is at risk.

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