With the impending Vasil hard fork upgrade, the Cardano community is placing bets on the network’s future success, much as the approaching Ethereum Merge.
A Top 10 Pick
The top 10 BNB Chain holdings of crypto titans now include Cardano. BNB Chain once went by the name Binance Smart Chain.
Investors are putting their money on the cryptocurrency token as the time ticks down to the much-anticipated Vasil hard fork.
Cardano is currently among the top 10 holdings of crypto whales, according to data published on Twitter by WhaleStats, a platform for monitoring these investors’ portfolios. Not only that, but it’s one of the 2,000 largest whale holdings on the BNB Chain right now. It’s true that some of the most well-known addresses do possess tokens, but the token isn’t among the top ten. More BNB, stablecoins, and tokenized ETH are available to the top 100 addresses.
Tokenized versions of Cardano coins are also held by BNB whales. These ADA tokens are a forgery and not issued by the Cardano blockchain.
Cardano hopes to activate the Cardano Improvement Proposal (CIPs) with the Vasil hard fork upgrade, which will allow for even greater network scalability.
According to experts in the field, Cardano’s future could take a dramatic shift after the Vasil hard fork. In honor of the late Bulgarian mathematician and respected member of the Cardano community, Vasil Dabov, this release bears his name.
Along with another hard fork, it’s one of the development plans that will usher in the shift to Basho, the fourth development strategy.
In addition, there are 5 CIPs included in the upgrade framework. Vasil’s hard fork, on the other hand, plans to implement upgrades to the network’s foundation.
The Cardano Network Expects a Sharp Price Increase
The Cardano community is excited for the Vasil hard fork in the same way that other protocols are excited for their major upgrades. In September, the community saw a sharp increase in prices as a result of speculation on the upgrade. Nearly 14,000 ADA token holders, as reported by CoinMarketCap statistics, have forecast a monthly price increase of ADA reaching $0.62.
On the other hand, the public has a lower expectation of price increases as we approach the conclusion of the year. Some analysts predict that before the end of the year, ADA will be worth only $0.49. The cryptocurrency industry as a whole expects ADA to trade at $0.556 by the end of October, which would indicate a quick gain followed by a market fall.
Coincidentally, Robinhood has added Cardano trading to its platform as well. Users of the widely-used commission-free trading program can invest in digital assets like stocks and cryptocurrency with no additional fees.
Robinhood has added Cardano to its list of available assets in response to user demand. Robinhood’s 13.2 million customers can now trade in Cardano. The listing is good news for Cardano because it will increase the market value of the tokens.
Along with other major protocols, Cardano is actively working to improve itself. Networks are undergoing fundamental adjustments to keep up with the rapidly evolving crypto industry.