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Cardano (ADA) Expected to Hit $1 After Vasil Hard Fork, Says Community Vote

Cardano supporters are optimistic about the future of the cryptocurrency, a recent poll reveals. This is partly in response to an opposite approach from Terra Luna’s Do Kwon, as the founder of Cardano (ADA) and the CEO of The Input-Output Global, Charles Hoskinson, is not in a rush to add new features to the network. “Slowly, but surely” is the right approach for Cardano (ADA), as the network’s native token enjoyed a surge in price during the last 7 days.

Tables Have Turned for Cardano (ADA)

Charles Hoskinson has been hit with disses by Terra’s Do Kwon on social media numerous times. Furthermore, many members of the crypto community thought Mr. Hoskinson is moving too slow with the integration of DeFi applications and smart contracts on his blockchain network. Therefore, the CEO of Input-Output Global had something to say about the turmoil surrounding the crypto market: “If you move too quickly, as we’ve seen with Luna, and we’ve seen with $10.5 billion of hacks last year, you could actually get it to work until it doesn’t, and then when it doesn’t it’s a catastrophic failure and everybody loses their money.”

Crypto Community Is Optimistic About Cardano’s Future

A major upgrade for the Cardano blockchain is around the corner. The recent spike in the Cardano (ADA) price only confirms the community is positive about the future of the cryptocurrency. The Vasil hard fork is bound to add four new Cardano Improvement Proposals to the network. Those are:

  • CIP-31 (Reference Inputs)
  • CIP-32 (Inline Datums)
  • CIP-33 (Reference Scripts)
  • CIP-40 (Collateral Outputs)

The upgrade is supposed to go live as soon as this month. Furthermore, the upcoming major upgrade brought a lot of enthusiasm from the crypto community, as a poll by CoinMarketCap reveals. 25k of voters on the Price Estimate tool think that Cardano (ADA) could reach as high as $1.06 by the end of this month. Moreover, another 16k of voters think that Cardano (ADA) will be priced at $0.97 per unit by the end of July.

Cardano (ADA) Is Moving Up the List

Thanks to the recent price surge, Cardano moved to #6 on the list by total market capitalization. At press time, Cardano (ADA) is priced at $0.578166, according to CoinGecko. Cardano went up as high as $0.672242 on May 31st, but in comparison to its ATH ($3.09), is still 81.2% down. However, Cardano (ADA) enjoyed a 14% gain over the last two weeks and suffered less than its competitors in the TOP 20 from the recent crypto market crash mostly caused by Terra.

This article is for information purposes only and should not be considered trading or investment advice. Nothing herein shall be construed to be financial legal or tax advice. Trading Forex, cryptocurrencies, and CFDs poses a considerable risk of loss

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Author

Tadas Klimasevskis is a blockchain journalist and content creator, focusing on the latest tendencies of the crypto world and digging deeper into specific innovations like music NFTs, gaming NFTs and Metaverse. Vast experience in social media lets Tadas quickly spot what’s going on in the crypto industry and deliver a story with a unique spin.