Altcoins
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Less than a week ago, on September 22, 2022, the Cardano (ADA) Vasil network was hard forked. The cryptocurrency community was interested in understanding how the rate of a virtual asset would behave after this event. The editors of Crypto.ru learned the opinion of experts on this matter.
The representative of the StormGain exchange Dmitry Militsin assured: the developers called the update successful and the full functionality became available to users on September 27. In his opinion, the Cardano ecosystem will get a reason to strengthen. The only argument against this is not the best time for investment, due to the deteriorating macroeconomic situation in the world. The expert assured that the hard fork does not bring critical changes, so a drop in the value of the coin should be expected only if the promises diverge from reality.
Pavel Petrov, CEO of the Ideasp digital platform, assured that the ADA cryptocurrency rate showed positive dynamics in the first days after Vasil, but it is still at risk if the hard fork is not as successful as it was announced. A successful update may give the project a chance for a short time (2-3 weeks) to demonstrate price growth dynamics better than the market. However, strong and long-term deviations from the pricing of the main cryptocurrency Bitcoin BTC should not be expected.
Artur Meinhard, Head of the Analytical Department for Global Markets at IC Fontvielle, emphasized that against the backdrop of the growing popularity of Cardano smart contracts, a solution was devised in the form of Vasil update in 8 months of work. It is designed to reduce the cost of creating decentralized applications by 25-30%, as well as increase network bandwidth.
The expert did not expect any significant price volatility in ADA caused by the hard fork, since it will not entail the creation of a new independent branch of the Cardano network. According to him, the value of ADA will continue to correlate with Bitcoin.
Earlier edition of Crypto.ru reported: Demand for Cardano cryptocurrency is growing among large holders.
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