The new Cardano upgrade was not as exciting as the last Ethereum upgrade. But it could be the key to uncovering Cardano’s cost, according to analysts at the consulting giant Fool.
Why is Cardano one of the best options for investment?
Cardano Vasil hard fork completed on September 22 as planned. The expected rise was not as exciting as the Ethereum ‘merge’. However, just like the merge, Vasil brings fundamental changes for Cardano in the hard fork. For this, we can examine the Vasil upgrade under two headings. First, Vasil’s influence on smart contracts. However, a few changes over smart contracts and dApps so far don’t seem very worthwhile.
On the other hand, Vasil is particularly concerned with making Cardano more developer friendly and convincing more developers to build on the network. It will bring enhanced functionality, greater scalability, improved production capacity and greater speed. Cardano bulls are optimistic about some projects Vasil and Cardano could double in value to $1.
Looking at Ethereum’s merger rise, the hype has been used as a classic “buy the rumor, sell the news” situation. In the week after the upgrade, the Ethereum price dropped about 15%. After a summer of “merge spree,” he has returned to thinking more rationally about the issues and pitfalls for a random crypto.
This is what makes the Cardano upgrade different. There was literally zero speculative foam at the word that went wrong with Vasil’s ascension. If you look at a chart for Cardano over the past few months, it has traded in a fairly narrow band of $0.40 to $0.60 for the entire timeframe. Without a lot of momentum for upgrading, a big bang was unlikely to follow.
Slow and calm wins the race
Koindeks.com As we have included in its analysis, ADA has not been able to exceed a price increase so far. Cardano is built for long-term investors, not short-term speculators. Over the last five years, it has proven to be a solid Blockchain project. In fact, 50 million processes recently passed the milestone. It currently handles more than 50,000 processes per day. There are clear signs that Cardano is expanding its developer community and seeing further growth in Blockchain thanks to past updates.
In addition, ADA provides profits where investors are not usually focused. Multiple investors would like to see major brand affiliates and celebrity sponsorships. They like the bankruptcy mentality that accompanies many emerging cryptos. However, Cardano has declared itself “the financial operating system for the world”. She has advocated for environmental sustainability and partnered with organizations in the developing world. Probably Cardano is currently the most valuable blockchain project in Africa.
All in all, according to Fool’s analysts, ADA is disappointing for investors looking for a spike in price. However, if you are looking at the long-term future of the blockchain industry and the power of crypto to change the world’s financial system, you will have reasons to be optimistic about Cardano. According to analysts, being able to buy Cardano at today’s prices is a historic opportunity. The analyst expects near 2x performance over the next 12 months from the Cardano price.