2024-09-22 14:14:05

Vasil Hardfork is Ready to Go live! Here’s How Cardano (ADA) Price Will React

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Coinpedia - Fintech & Cryptocurreny News Media
By Qadir Ak

The Vasil Hard Fork for the Cardano network is a much-awaited event that aims to speed up transaction time, lower fees and increase the scalability of decentralized apps (dApps). However, it seems to bring no change in the price graph but rather a bearish trend for Cardano (ADA) as it is at risk of a major crash due to the selling of the news of Vasil Hard Fork.

The Vasil Hard Fork Follows The Trails Of The Ethereum Merge

Before the announcement of the Vasil Hard Fork, Cardano was on a bearish trend, but it soon saw a 25% price hike following the hype of the news. Investors and traders started investing in ADA and pushed its price due to the anticipation of the much-awaited upgrade of the Cardano network. However, it seems that the hype will become dead as people are willing to sell off their holdings after the layer two upgrades of the network.

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We can refer to this price action of ADA to Buy the rumor, sell the news as the anticipation of the Vasil hard fork will no longer be emerging to bring an upward price action after the upgrade. This means that when an event or upgrade is announced, people start buying that crypto project with speculation that it will bring fruitful returns.

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