Cardano Vasil Hard Fork Launch Date Set, Time To Buy The News?
22 June 2022 - 3:00AM
NEWSBTC
The highly anticipated Vasil Hard Fork on the Cardano network has
been rescheduled. The hard fork was expected to push forward work
that had been done on the network over the last couple of years.
Due to this, the news of the June 29th launch had sparked a lot of
enthusiasm for the network and had seen the price of its native
token, ADA, surge. Now, with the delay, investors have had to
reassess their stance and strategy when it comes to Cardano. When
Is Vasil Hard Fork Launching? According to a blog post from IOG,
the developer behind Cardano, the launch date for the Vasil Hard
Fork had been moved back by another four weeks. So instead of
launching next week as was previously announced, users will have to
wait until the last week of July for the hard fork to be completed.
Related Reading | Bitcoin Recovery Wades Off Celsius
Liquidation, But For How Long? Delays like these are not new in the
crypto space. Ethereum’s move to the consensus layer has been in
the works for a while now and has been subject to many delays over
this time. Cardano notes in the blog post that the reasons for the
delay have been the bugs that have been found to date. In
particular, there are seven bugs that the developers are working to
figure out. Although none of them are particularly ‘severe’. ADA
price declines to $0.49 | Source: ADAUSD on TradingView.com The
post also notes that the developer is 95% done with the Plutus V2
test scripts. Adding that the Vasil hard fork had been the most
complex development and integration on the network to date and as
such, has been a challenging process. Time To Buy Cardano? Like
with anything, an important upgrade such as the Vasil Hard Fork can
carry various implications for the price of the digital assets
themselves. This is why investors are always trying to time and buy
along with times when there will be the most hype. Since the
upgrade has been pushed further by another four weeks, it has
pushed the buying opportunity far back. If the price of the digital
asset were to fall below its 20-day moving average in the next
three weeks, it would present a good opportunity to enter the
cryptocurrency in a bid to catch the height of the hype. Related
Reading | Over $250 Million In Liquidations As Bitcoin
Recovers Above $20,000 Mostly, when “buy the rumor and sell the
news” comes into play, it is best to always purchase the
cryptocurrency right before the rumors begin. And then around the
time of the launch will see a good amount of dumping which is when
the price declines. This was the same thing that occurred prior to
and after the launch of smart contracts capability on the Cardano
network. The price of the digital asset is currently trading
at $0.504 at the time of this writing. The next major resistance
point lies at $0.55 while support is available at $0.43. Featured
image from Zipmex, chart from TradingView.com Follow Best Owie on
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