Cardano (ADA) Price Reacts Poorly To Vasil Hard Fork

Name	Symbol	Market	Market Cap ($)	Algorithm
Cardano	ADAUSD	Crypto	16,479,570,686	Not Mineable

Name

Symbol

Market

Market Cap ($)

Algorithm

Cardano

ADAUSD

Crypto

16,479,570,686

Not Mineable

	Price Change	Price Change %	Current Price	Bid Price	Offer
	0.0016	0.34%	0.4686	0.4687	0.4688

Price Change

Price Change %

Current Price

Bid Price

Offer

0.0016

0.34%

0.4686

0.4687

0.4688

High Price	Low Price	Open Price	Prev. Close	52 Week Range
0.478	0.4663	0.4666	0.467	0.216009 - 0.810200

High Price

Low Price

Open Price

Prev. Close

52 Week Range

0.478

0.4663

0.4666

0.467

0.216009 - 0.810200

Exchange	Last Trade	Size	Trade Price	Currency
GDAX	16:00:31	62.90	0.4688	USD

Exchange

Last Trade

Size

Trade Price

Currency

GDAX

16:00:31

62.90

0.4688

USD

Price x Volume	Volume	Base Symbol	Related Pairs
2,667,487.50	5,656,308.08	ADA	ADAEUR	ADAGBP	ADABTC

Price x Volume

Volume

Base Symbol

Related Pairs

2,667,487.50

5,656,308.08

Cardano (ADA) Price Reacts Poorly To Vasil Hard Fork

23/09/2022 6:00pm

NEWSBTC

The Cardano Vasil hard fork had been expected for months, and finally, it is a reality. The hard fork had proceeded according to schedule, and by Thursday, September 22nd, the hard fork was live on the network. It was received amid much fanfare from the community, but the network’s native token, ADA, had not reacted as well. Cardano Vasil Hard Fork Completed The Cardano Vasil hard fork was targeted toward making the network more efficient than it is already. In turn, this would make it a better platform for developers to build upon. It is the most important upgrade that has been carried out on the blockchain, and its completion is a call for celebration for the community. Related Reading: Stabilizing Ethereum Funding Rates Suggests Recovery Might Be In The Works With the upgrade, the already inexpensive transaction fees of the Cardano blockchain will become even cheaper. It adds more space, which increases the size of each block, making it able to save higher amounts of data. ADA trending at $0.45 | Source: ADAUSD on TradingView.com Transactions will be even faster with the upgrade. The increased block size also plays into this, as the increased data storage space means an increase in speed. So not only will users get faster transactions, but they would also be paying below $0.16 per transaction on the network. ADA Price Doesn’t React Well The completion of the Cardano Vasil hard fork has not had a positive impact on the price of its native digital currency, ADA. There had been an uptick in the price of the digital asset, but it had been unable to exceed a 6% growth in a 24-hour period. ADA’s price had jumped upon the completion of the hard fork, rising close to $0.5, but it was unable to hold this point. It subsequently dropped back to the $0.45 level it had been trending at before the upgrade was completed, normalizing around this price point. Related Reading: Fed Interest Rates Hike Spur Crypto Market Liquidations Of More Than $330 Million This came as no surprise, though, given the price movements of the cryptocurrency over the last couple of months. A report from Messari in the month of August showed that the event was already priced into the price of ADA, meaning there was no significant change in price expected for the digital asset. Vasil, which was named after mathematician Vasil St. Dabov who was an active member of the Cardano community, had been postponed twice in the past. By the time a finalized date was announced, the hype had already died down, and ADA had taken its price in tandem with the current bear market. Featured image from Analytics Insight, charts from TradingView.com Follow Best Owie on Twitter for market insights, updates, and the occasional funny tweet…

Market Data

News

Trading Tools

Markets

Discover

Hot Features

Follow Feed

Options Flow

Monitor

ADAUSD Cardano