During the last seven days, the cryptocurrency cardano has increased in value by 17.3% against the U.S. dollar, as the community anticipates the upcoming Vasil hard fork, an upgrade that aims to improve the network’s throughput and enhance smart contract capabilities. Moreover, according to a poll involving 24,468 crypto enthusiasts, cardano is predicted to reach $1 in value by the end of this month.
The digital currency cardano (ADA) has been performing a lot better than most digital currencies in terms of market gains. For instance, while bitcoin (BTC) increase in value by 6.5% during the last week, ADA jumped in value by 17.3%. Cardano’s rise follows the recent Terra LUNA and UST fallout, and the digital currency has managed to capture the sixth position out of today’s top crypto market capitalizations.
ADA has had a 24-hour price range of around $0.599 to $0.657 per unit and there’s been $1.66 billion in ADA trade volume worldwide on Wednesday. Cardano has been one of the top smart contract tokens that’s been able to dodge a decent amount of the market carnage stemming from the Terra blockchain fiasco. The Input-Output Global (IOG) CEO and inventor of Cardano, Charles Hoskinson, seems to be sticking to the well-known proverb: “slow and steady wins the race.”
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.
Should I buy some Luna for negative correlation?
What do you think about Cardano’s recent gains and the upcoming Vasil hard fork? Let us know what you think about this subject in the comments section below.