This Could Push Cardano to $1.50 Before Summer’s Over
The creators of Cardano (ADA) are taking the network to the next level in an attempt to become the next Bitcoin (BTC) or Ether (ETH). The Cardano community believes the “Vasil” hard fork – an upgrade that will go live at the end of June – will be a major catalyst for attracting more users to the protocol.
And, as we’ve seen so many times before, more users, higher prices.
Vasil will deliver several important improvements to the Cardano network, all aiming to increase efficiency and lower transaction fees.
Increased efficiency and lower fees mean more users, and more users means… you know.
Let me walk you through what’s going on and what it’s going to mean for folks who own ADA right now.
Cardano: Leaner, Meaner, Greener, and More Capable
One of the most important updates – “diffusion pipelining” should improve the network’s scalability. Previously, Cardano block extension required six ordered steps, which is a secure but unproductive way of propagating transactions through the network.
Diffusion pipelining streamlines the block propagation process – IMG Source
Diffusion pipelining will streamline that block propagation process. The system will merge several steps of the process so that they can run jointly, and decrease the time that nodes need to report information with each other. More efficient block propagation will also create the possibility for larger blocks and reduce Cardano fees even more.
Prior to these updates going live there’s was a noticeable uptick in the number of users joining Cardano, which has had a very slow start when compared other blockchains in the space
Data from the Cardano Fans Stake Pool group indicates that about 60,000 users have created Cardano wallets since May 1st. The network has averaged about 1,500 new wallets per day, and ADA is up 20% against ETH in the last month. NFTs are also becoming really popular on Cardano and more than 5 million of them have been minted on the protocol.
ADA Owners Are Going to Have a Great Summer
Cardano is on track to become one of the world’s most universal and dependable smart contract platforms. The Vasil upgrade should help the platform become even more user-friendly as fees decline and dApps rise to a new level of functionality.
And, at the risk of sounding like a broken record… more users means a more valuable crypto.
Now, what does that mean for investors? Well, fortunately it’s a lot more straightforward than “diffusion pipelining.”
See, Cardano hit $3 last year during an upgrade cycle, so I think we’re probably looking at hefty price increases from today’s $0.60 level. I think ADA will easily hit $1. Unlike last year’s run higher, I think this coin is much more fairly priced now; you’re seeing a real intrinsic value argument. In the near-term, this coin should probably be around $1.50.
Be there for the ride.
Chief Crypto Strategist
American Institute for Crypto Investors
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How can I create a wallet for ADA? And what is staking?
You can buy and stake ADA on Coinbase or your preferred exchange.
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Now that I’m picking up what your putting down I’m buying more ADA. Lol
Do you recommend sending Cardano stake coins to a wallet named Caduceus? What do you know about this waller?
Do some research on this exchange so you can see what YOU like about this particular exchange. DYOR…
Dear NB and team,despite the massive selloff and the naysayers. Cardano has the potential to totally dominate the cryto space with all its projects.Thank yall for introducing us to the 5 T’s and the impact of blockchain.I continue to D.C.A and pray for mass adoption. Sincerely,Rob Foley