Cardano bulls run out of steam after Vasil hard fork — 40% ADA price crash in play
Most Cardano hard forks have preceded ADA price crashes, and Vasil looks no different.
Auto Added by WPeMatico
Most Cardano hard forks have preceded ADA price crashes, and Vasil looks no different.
Cardano’s Vasil hard fork seeks to enhance the platform’s transaction throughput speeds, DApp development capacity, security and general usability.
Cardano’s newest hard fork is the blockchain's most significant update since adding smart contract functionality in September.
With the countdown now under 24 hours for Cardano’s most ambitious upgrade, all three metrics necessary to launch the awaited Vasil upgrade have been met.
Together, ETHW mining pools already make up more mining capacity in terms of block share than Ethermine, which opted to shut down mining operations.
Forked coins have proven to be lucrative in the past. Holders of Ethereum came to possess an equivalent amount of Ethereum Classic when it forked in 2016.
Offering two separate Ethereum ETPs after the hard fork would allow ETC Group to ensure the most transparent and fair approach, the founder said.
A recent report has narrowed ETHPOW's downside target to $18 if the token ever comes to life post-Merge.
Cardano's Vasil update is expected to be a bullish event, but macro fears are strongly countering the upside bias.
ETC Group will continue to rely on Ethereum’s original PoW consensus for its current Ethereum ETP, the firm announced on Wednesday.