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With the Vasil Hardfork set to launch, will Cardano be able to reclaim its $1 price?

  • After a significant surge on March 29, Cardano is on its third straight losing streak
  • On June 29, IOHK will release the Vasil hardfork upgrade
  • According to Charles Hoskinson, the hardfork will significantly increase Cardano's performance

By Ed D - Crypto Investor 07-07-2022

Can Cardano's (ADA) price rise above $1 again? As April approached, ADA's momentum broke after a significant spike on March 29, 2022, to about $2. This week, Cardano has been on a losing run for the third week in a row.

Furthermore, the downturn is a result of the crypto market structure, which is influenced by broader commercial issues such as China's COVID-19-related lockdowns, the low price of Bitcoin, and the war in Ukraine and the ensuing economic penalties; and even the US Federal Reserve's hawkish stance.

Despite the overall crypto market's performance, Cardano continues to acquire investor trust and retains its position in CoinMarketCap's top ten cryptocurrencies. Making it more attractive to trade crypto.

The Cardano ecosystem continues to flourish, according to Tim Harrison, IOG Marketing and Communications Director, with over 500 projects currently BuildingOnCardano — ranging from NFT collections to DeFi loans and new wallets. “Thanks to the whole IOG team for continuing to push the platform forward. It's been an amazing journey to get here. And congratulations to the creative, dedicated group of builders who have pushed our project this far. We're only getting started here, you know. The IOHK and Cardano development teams are working on the Vasil hard fork upgrade.” In terms of technical development, Cardano is one of the most active networks in space. Creating a safe place investing in cryptocurrency and crypto to crypto trading.

According to IOHK and Cardano Founder Charles Hoskinson, the Vasil hard fork will significantly enhance Cardano's performance making it one of the best cryptocurrency in the space. In addition, John Woods, the Director of Cardano Architecture, stated that the hard fork would take place on June 29, 2022. With the Vasil hard fork, Cardano's price is likely to rise beyond $1.

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