{"id":503395,"date":"2022-09-23T17:00:58","date_gmt":"2022-09-23T17:00:58","guid":{"rendered":"https:\/\/uniquehot.com\/?p=503395"},"modified":"2024-06-11T14:26:33","modified_gmt":"2024-06-11T14:26:33","slug":"cardano-ada-price-reacts-poorly-to-vasil-hard-fork","status":"publish","type":"post","link":"https:\/\/uniquehot.com\/news\/cardano\/cardano-ada-price-reacts-poorly-to-vasil-hard-fork\/","title":{"rendered":"Cardano (ADA) Price Reacts Poorly To Vasil Hard Fork"},"content":{"rendered":"

The Cardano Vasil hard fork had been expected for months, and finally, it is a reality. The hard fork had proceeded according to schedule<\/a>, and by Thursday, September 22nd, the hard fork was live on the network. It was received amid much fanfare from the community, but the network\u2019s native token, ADA, had not reacted as well.<\/p>\n

Cardano Vasil Hard Fork Completed<\/h2>\n

The Cardano Vasil hard fork was targeted toward making the network more efficient than it is already. In turn, this would make it a better platform for developers to build upon. It is the most important upgrade that has been carried out on the blockchain, and its completion is a call for celebration for the community.<\/p>\n

Related Reading: Stabilizing Ethereum Funding Rates Suggests Recovery Might Be In The Works<\/a><\/strong><\/em><\/div>\n

With the upgrade, the already inexpensive transaction fees of the Cardano blockchain will become even cheaper. It adds more space, which increases the size of each block, making it able to save higher amounts of data.\u00a0<\/span><\/p>\n

\"Cardano<\/p>\n

ADA trending at $0.45 | Source: ADAUSD on TradingView.com<\/a><\/pre>\n
Transactions will be even faster with the upgrade. The increased block size also plays into this, as the increased data storage space means an increase in speed. So not only will users get faster transactions, but they would also be paying below $0.16 per transaction on the network.\u00a0<\/span><\/p>\n
ADA Price Doesn\u2019t React Well<\/h2>\n
The completion of the Cardano Vasil hard fork has not had a positive impact on the price of its native digital currency, ADA. There had been an uptick in the price of the digital asset, but it had been unable to exceed a 6% growth in a 24-hour period.<\/p>\n
ADA\u2019s price had jumped upon the completion of the hard fork, rising close to $0.5, but it was unable to hold this point. It subsequently dropped back to the $0.45 level it had been trending at before the upgrade was completed, normalizing around this price point.<\/p>\n
Related Reading: Fed Interest Rates Hike Spur Crypto Market Liquidations Of More Than $330 Million<\/a><\/strong><\/em><\/div>\n
This came as no surprise, though, given the price movements of the cryptocurrency over the last couple of months. A report<\/a> from Messari in the month of August showed that the event was already priced into the price of ADA, meaning there was no significant change in price expected for the digital asset.<\/p>\n
Vasil, which was named after mathematician Vasil St. Dabov who was an active member of the Cardano community, had been postponed twice in the past. By the time a finalized date was announced, the hype had already died down, and ADA had taken its price in tandem with the current bear market.<\/p>\n
Featured image from Analytics Insight, charts from TradingView.com<\/pre>\n
Follow <\/i><\/b>Best Owie on Twitter<\/i><\/b><\/a> for market insights, updates, and the occasional funny tweet\u2026<\/i><\/b><\/span><\/p>\n","protected":false},"excerpt":{"rendered":"
The Cardano Vasil hard fork had been expected for months, and finally, it is a reality. The hard fork had proceeded according to schedule, and by Thursday, September 22nd, the hard fork was live on the network. It was received amid much fanfare from the community, but the network\u2019s native token, ADA, had not reacted as well. Cardano Vasil Hard Fork Completed The Cardano Vasil hard fork was targeted toward making the network more efficient than it is already. In turn, this would make it a better platform for developers to build upon. It is the most important upgrade that has been carried out on the blockchain, and its completion is a call for celebration for the community. Related Reading: Stabilizing Ethereum Funding Rates Suggests Recovery Might Be In The Works With the upgrade, the already inexpensive transaction fees of the Cardano blockchain will become even cheaper. It adds more space, which increases the size of each block, making it able to save higher amounts of data.\u00a0 ADA trending at $0.45 | Source: ADAUSD on TradingView.com Transactions will be even faster with the upgrade. The increased block size also plays into this, as the increased data storage space means an increase in speed. So not only will users get faster transactions, but they would also be paying below $0.16 per transaction on the network.\u00a0 ADA Price Doesn\u2019t React Well The completion of the Cardano Vasil hard fork has not had a positive impact on the price of its native digital currency, ADA. There had been an uptick in the price of the digital asset, but it had been unable to exceed a 6% growth in a 24-hour period. ADA\u2019s price had jumped upon the completion of the hard fork, rising close to $0.5, but it was unable to hold this point. It subsequently dropped back to the $0.45 level it had been trending at before the upgrade was completed, normalizing around this price point. Related Reading: Fed Interest Rates Hike Spur Crypto Market Liquidations Of More Than $330 Million This came as no surprise, though, given the price movements of the cryptocurrency over the last couple of months. A report from Messari in the month of August showed that the event was already priced into the price of ADA, meaning there was no significant change in price expected for the digital asset. Vasil, which was named after mathematician Vasil St. Dabov who was an active member of the Cardano community, had been postponed twice in the past. By the time a finalized date was announced, the hype had already died down, and ADA had taken its price in tandem with the current bear market. Featured image from Analytics Insight, charts from TradingView.com Follow Best Owie on Twitter for market insights, updates, and the occasional funny tweet\u2026<\/p>\n","protected":false},"author":541,"featured_media":503398,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[16896],"tags":[12333,84005,14643,79508,12332,86935,86142],"class_list":["post-503395","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-cardano","tag-ada","tag-ada-price","tag-adausd","tag-adausdt","tag-cardano","tag-cardano-vasil-hard-fork","tag-vasil-hard-fork"],"acf":[],"yoast_head":"\nCardano (ADA) Price Reacts Poorly To Vasil Hard Fork<\/title>\n<meta name=\"description\" content=\"The Cardano Vasil hard fork had been expected for months, and finally, it is a reality. 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This has seen Best dive into topics in areas such as decentralized finance (DeFi), non-fungible tokens (NFTs), Layer 2 blockchains, etc. In addition to this, Best is a vocal member of the crypto community across various social media platforms such as X and Reddit. Best\u2019s work garners tens of thousands of readers monthly, who rely on the information in these publications to keep up-to-date with everything happening in the crypto community. Best\u2019s articles explore breaking news, intricate systems such as yield farming, liquidity pools, and other decentralized finance (DeFi) systems. This is because Best understands the importance of information to gaining financial freedom and believes that everyone should have access to this information. Best also believes in leveraging the blockchain for philanthropy to create the most positive social impact. This involves work with charitable organizations focused on financial literacy and education. With each article, Best lends a voice to important issues such as a more financially inclusive future, transparent systems for growth and development, and technology that is not self-serving but one that serves all of humanity. When not curating engaging content, Best can be found reading a book with a cup of hot chocolate, enjoying a Netflix series, or exploring the outdoors with Green - the world\u2019s most quiet and well-behaved Husky. Best\u2019s interests also span other industries such as art, finance, and security, attending seminars and conferences in not just the crypto industry but other industries as well. As an animal lover, Best is also involved with charities for animals, local shelters, and rescues. Best is also involved in local events that promote inclusivity, such as being a prominent member of hiking clubs and a cycling club, as well as being a part of a very happy group of animal lovers. Best is a true professional in every sense of the word, with an exceptional dedication to producing high-quality work. This shines through in Best's work on and off the clock. These include advocating for inclusive crypto education for all, the impact of financial illiteracy, and the benefits of adopting new technologies such as cryptocurrencies. Best\u2019s prolific career in the media industry is a testament of how hard work and dedication pays.","sameAs":["https:\/\/www.linkedin.com\/in\/best-owie-41a150178\/","https:\/\/x.com\/https:\/\/twitter.com\/BestOwie"],"url":"https:\/\/uniquehot.com\/author\/owiebest\/"}]}},"parsely":{"version":"1.1.0","meta":{"@context":"https:\/\/schema.org","@type":"NewsArticle","headline":"Cardano (ADA) Price Reacts Poorly To Vasil Hard Fork","url":"http:\/\/uniquehot.com\/news\/cardano\/cardano-ada-price-reacts-poorly-to-vasil-hard-fork\/","mainEntityOfPage":{"@type":"WebPage","@id":"http:\/\/uniquehot.com\/news\/cardano\/cardano-ada-price-reacts-poorly-to-vasil-hard-fork\/"},"thumbnailUrl":"https:\/\/uniquehot.com\/wp-content\/uploads\/2022\/09\/Cardano-ADA-2.jpeg?resize=200%2C200","image":{"@type":"ImageObject","url":"https:\/\/uniquehot.com\/wp-content\/uploads\/2022\/09\/Cardano-ADA-2.jpeg?fit=900%2C500"},"articleSection":"Cardano","author":[{"@type":"Person","name":"Best Owie"}],"creator":["Best Owie"],"publisher":{"@type":"Organization","name":"NewsBTC","logo":"https:\/\/uniquehot.com\/wp-content\/uploads\/2020\/06\/cropped-cropped-cropped-favicon.png?w=32"},"keywords":["ada","ada price","adausd","adausdt","cardano","cardano vasil hard fork","vasil hard fork"],"dateCreated":"2022-09-23T17:00:58Z","datePublished":"2022-09-23T17:00:58Z","dateModified":"2024-06-11T14:26:33Z"},"rendered":"<script type=\"application\/ld+json\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@type\":\"NewsArticle\",\"headline\":\"Cardano (ADA) Price Reacts Poorly To Vasil Hard Fork\",\"url\":\"http:\\\/\\\/uniquehot.com\\\/news\\\/cardano\\\/cardano-ada-price-reacts-poorly-to-vasil-hard-fork\\\/\",\"mainEntityOfPage\":{\"@type\":\"WebPage\",\"@id\":\"http:\\\/\\\/uniquehot.com\\\/news\\\/cardano\\\/cardano-ada-price-reacts-poorly-to-vasil-hard-fork\\\/\"},\"thumbnailUrl\":\"https:\\\/\\\/uniquehot.com\\\/wp-content\\\/uploads\\\/2022\\\/09\\\/Cardano-ADA-2.jpeg?resize=200%2C200\",\"image\":{\"@type\":\"ImageObject\",\"url\":\"https:\\\/\\\/uniquehot.com\\\/wp-content\\\/uploads\\\/2022\\\/09\\\/Cardano-ADA-2.jpeg?fit=900%2C500\"},\"articleSection\":\"Cardano\",\"author\":[{\"@type\":\"Person\",\"name\":\"Best Owie\"}],\"creator\":[\"Best Owie\"],\"publisher\":{\"@type\":\"Organization\",\"name\":\"NewsBTC\",\"logo\":\"https:\\\/\\\/uniquehot.com\\\/wp-content\\\/uploads\\\/2020\\\/06\\\/cropped-cropped-cropped-favicon.png?w=32\"},\"keywords\":[\"ada\",\"ada price\",\"adausd\",\"adausdt\",\"cardano\",\"cardano vasil hard fork\",\"vasil hard fork\"],\"dateCreated\":\"2022-09-23T17:00:58Z\",\"datePublished\":\"2022-09-23T17:00:58Z\",\"dateModified\":\"2024-06-11T14:26:33Z\"}<\/script>","tracker_url":"https:\/\/cdn.parsely.com\/keys\/uniquehot.com\/p.js"},"jetpack_sharing_enabled":true,"jetpack_featured_media_url":"https:\/\/uniquehot.com\/wp-content\/uploads\/2022\/09\/Cardano-ADA-2.jpeg?fit=900%2C500","amp_enabled":true,"_links":{"self":[{"href":"https:\/\/uniquehot.com\/wp-json\/wp\/v2\/posts\/503395","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/uniquehot.com\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/uniquehot.com\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/uniquehot.com\/wp-json\/wp\/v2\/users\/541"}],"replies":[{"embeddable":true,"href":"https:\/\/uniquehot.com\/wp-json\/wp\/v2\/comments?post=503395"}],"version-history":[{"count":0,"href":"https:\/\/uniquehot.com\/wp-json\/wp\/v2\/posts\/503395\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/uniquehot.com\/wp-json\/wp\/v2\/media\/503398"}],"wp:attachment":[{"href":"https:\/\/uniquehot.com\/wp-json\/wp\/v2\/media?parent=503395"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/uniquehot.com\/wp-json\/wp\/v2\/categories?post=503395"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/uniquehot.com\/wp-json\/wp\/v2\/tags?post=503395"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}