{"id":29938,"date":"2022-09-23T22:03:21","date_gmt":"2022-09-23T22:03:21","guid":{"rendered":"https:\/\/egrowonline.com\/?p=29938"},"modified":"2022-09-23T22:03:21","modified_gmt":"2022-09-23T22:03:21","slug":"cardano-price-unmoved-by-vasil-upgrade-despite-ada-social-mentions-hitting-record-high","status":"publish","type":"post","link":"http:\/\/egrowonline.com\/?p=29938","title":{"rendered":"Cardano price unmoved by Vasil upgrade despite ADA social mentions hitting record high"},"content":{"rendered":"


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\n\"Cardano <\/div>\n

The Vasil hard fork<\/a> has emerged as one of Cardano\u2019s (ADA<\/a>) necessary and important network updates that have been touted to improve the blockchain\u2019s<\/a> performance and establish it as a formidable decentralized crypto project.<\/p>\n

The run-up to the upgrade has resulted in significant interest in Cardano from the crypto<\/a> community. Indeed, as of September 23, ADA\u2019s daily social mentions hit 52,470, a record high over a 90-day period. In total, ADA has recorded 2.32 million social mentions, according to Lunar Crash<\/em> data<\/a>.\u00a0<\/p>\n

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Cardano social mentions. Source: Lunar Crash<\/figcaption><\/figure>\n

Interest in Cardano has generally mirrored the increased development activities on the network as it moves to become an \u2018Ethereum killer\u2019.<\/p>\n

Interest in ADA spikes ahead of Vasil hard fork\u00a0<\/h2>\n

The correlation between the ADA\u2019s social mentions and the Vasil fork should not come as a surprise, considering that the network upgrade is viewed as a bullish<\/a> event for the cryptocurrency.\u00a0<\/p>\n

Notably, with the broader crypto market volatility, ADA is potentially considered among the digital assets likely to pull the sector out of the bearish<\/a> momentum.<\/p>\n

At the same time, the uptick in social mentions appears to have ignored any previous concerns regarding the Vasil hard fork\u2019s delayed rollout due to alleged software testing and bugs. Notably, Cardano\u2019s development has progressed slowly as the team seeks to remain cautious.\u00a0<\/p>\n

Interestingly, Charles Hoskinson, the founder of Cardano, had ascertained<\/a> that the Vasil upgrade is not for the \u2018average Cardano user\u2019 while dismissing criticism for the delay.\u00a0<\/p>\n

Despite the Vasil hard fork\u2019s significance, ADA has yet to record any price boom. However, there are projections the upgrade will positively influence the value of ADA in the future.\u00a0<\/p>\n

ADA price analysis<\/h2>\n

In this line, the update set to improve the smart contract features and enhance security is viewed as a bullish trigger for the asset. For instance, over 24 hours after the upgrade, the value of ADA has recorded minor gains, but it\u2019s still outweighed by the impact of the general crypto market price correction.\u00a0<\/p>\n

By press time, the asset was trading at $0.45, gaining about $0.5 in the last 24 hours. On the weekly chart, ADA\u2019s price peaked on September 18 at $0.48.\u00a0<\/p>\n

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ADA 7-day price chart. Source: CoinMarketCap<\/figcaption><\/figure>\n

Furthermore, ADA has failed to break past the $0.5 resistance, pushing the price back to around $0.45. However, despite the positive network development, signs of breaking out appear bleak, considering the prevailing bearish sentiments.\u00a0<\/p>\n

Disclaimer<\/em><\/strong>: The content on this site should not be considered investment advice. Investing is speculative. When investing, your capital is at risk.<\/em><\/p>\n<\/div>\n


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Source link <\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

The Vasil hard fork has emerged as one of Cardano\u2019s (ADA) necessary and important network updates that have been touted to improve the blockchain\u2019s performance and establish it as a formidable decentralized crypto project. The run-up to the upgrade has resulted in significant interest in Cardano from the crypto community. Indeed, as of September 23, […]<\/p>\n","protected":false},"author":1,"featured_media":29939,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":"","jetpack_publicize_message":"","jetpack_publicize_feature_enabled":true,"jetpack_social_post_already_shared":true,"jetpack_social_options":{"image_generator_settings":{"template":"highway","enabled":false}}},"categories":[44],"tags":[340,266,261,189,11358,195,338,2798,11357,503,7390],"class_list":["post-29938","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-ada","tag-ada","tag-cardano","tag-high","tag-hitting","tag-mentions","tag-price","tag-record","tag-social","tag-unmoved","tag-upgrade","tag-vasil"],"jetpack_publicize_connections":[],"jetpack_sharing_enabled":true,"jetpack_featured_media_url":"http:\/\/egrowonline.com\/wp-content\/uploads\/2022\/09\/Cardano-price-unmoved-by-Vasil-upgrade-despite-ADA-social-mentions-hitting-record-high.jpeg","_links":{"self":[{"href":"http:\/\/egrowonline.com\/index.php?rest_route=\/wp\/v2\/posts\/29938","targetHints":{"allow":["GET"]}}],"collection":[{"href":"http:\/\/egrowonline.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"http:\/\/egrowonline.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"http:\/\/egrowonline.com\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"http:\/\/egrowonline.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=29938"}],"version-history":[{"count":1,"href":"http:\/\/egrowonline.com\/index.php?rest_route=\/wp\/v2\/posts\/29938\/revisions"}],"predecessor-version":[{"id":29940,"href":"http:\/\/egrowonline.com\/index.php?rest_route=\/wp\/v2\/posts\/29938\/revisions\/29940"}],"wp:featuredmedia":[{"embeddable":true,"href":"http:\/\/egrowonline.com\/index.php?rest_route=\/wp\/v2\/media\/29939"}],"wp:attachment":[{"href":"http:\/\/egrowonline.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=29938"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"http:\/\/egrowonline.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=29938"},{"taxonomy":"post_tag","embeddable":true,"href":"http:\/\/egrowonline.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=29938"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}