A little earlier this summer, I made a pretty big call – that Cardano (ADA) would be worth $1 or even $1.50 before the weather cooled down.
I felt comfortable making a call like that because I’ve looked under the hood of Cardano’s “Vasil” hard fork (it’s an upgrade), and what I see will make the cryptocurrency, which is one of my favorites, much more efficient, much easier to use, and, because of that, way more valuable in the medium- to long run.
A few weeks have gone by since my prediction, and there’s been a delay, but I’m not sweating it; I see a lot out there that gives me confidence I made the right call.
See, the very first one of my “5 Ts” is: can the team be trusted? The answer here is a loud “yes.”
There’s a lot to look forward to, so I’ll walk you through what’s happening right now, and show you how to play it.
What’s Coming Next for Cardano
Back in June, the thing I said will make ADA “leaner, meaner, greener, and more capable” is something… very complicated – I went into detail on the upgrades here. The upshot, and the practical effect for everyone who uses the network, will be faster block generation, lower fees, and less energy usage.
I’m talking about better performance, and a real boost to Cardano’s smart contract capabilities, too. This will also make Cardano much easier to scale – something it’s struggled with over the past year or so.
So, when you see the impact Vasil is going to have, it’s easy to see why higher prices are in the cards.
Input Output (IO), which is the blockchain engineering firm who built the Cardano network, had originally planned for Vasil to go live at the end of June, but then the developers announced they’re delaying implementation by about a month.
The IO team called the delay “disappointing,” but they said much, much more than that. Some degenerate gamblers – whoops, I mean “speculators” – freaked out, which sent prices lower, but they obviously A) don’t really care about Cardano itself, and B) don’t read.
In announcing the delay, IO’s project manager said the team was working on a list of seven bugs, none of which were classified as “severe.” Seven issues – that’s it. The manager also said “The work on Vasil has been the most complex program of development and integration to date, from several angles.”
Clearly, Cardano/IO is more focused on getting it right, as opposed to getting it out. I’ve got zero concerns with that, and when you think about it, it’s reassuring, not “disappointing.”
After all, the insanely destructive $64 billion collapse of TerraLuna was brought on by fast-buck artists looking to get paid. I can’t imagine much care or thought was given to Terra or any other “algorithmic stablecoins,” since, on the very face of it, they’re completely absurd.
In taking the time to get it right, Cardano and IO are really validating the first of my “5 Ts”: Can the team be trusted? Like I said, yes, they can.
Here’s What You Can Expect This Summer
Vasil has been pushed out to the testnet, and once that’s been hard forked, IO developers and operators will take care of any other integration and testing and then execute the Vasil Hardfork on the “mainnet,” or, as I like to call it, “in real life.”
Cardano is looking to make a global impact with this cryptocurrency. We’ve talked about all the projects underway and still on the drawing board, and this upgrade is a huge part of meeting those goals. Cardano may well have what it takes to be the world’s top smart contract platform, which would mean beating Ethereum at what Ethereum does best.
That’s a tall order, but it’s a great goal to shoot for. If you’re taking on the champ, you’ve got to bring your A-game, and, delay and all, it looks like that’s what the Cardano team is doing.
What you want to be doing here, and what I’m doing, is buying – buy lower and lower. Dollar-cost average in. ADA is trading for less than $0.45 cents right now, and if my conviction is right, investors who get in at these levels could see more than a double at $1 or, at the outside, even triple their money if Cardano goes all the way to $1.50.