Crypto Community Observes Cardano ($ADA) Price Increase of 35% in September
In September, when the Vasil hard fork is likely to go live, the cryptocurrency community anticipates a 35% increase in the value of Cardano ($ADA).
According to data from CoinMarketCap’s price estimate feature, which saw over 13,700 users predict the cryptocurrency’s price for the end of the month, the community anticipates that ADA will, on average, trade at $0.62 by the end of the month, an increase of over 35% from its current price of $0.456.
The community is less positive at the end of the year, predicting that ADA will trade for around $0.49 by the end of 2022. The cryptocurrency community expects ADA will trade at $0.556 by the end of October, indicating that people anticipate a short-term surge followed by a drop.
The anticipated surge may be tied to the Vasil hard for, a significant update that will incorporate four Cardano Improvement Proposals (CIPs). The hard fork was supposed to be applied in late June, but it was postponed due to Terra’s demise and the team’s need to be cautious before releasing the update.
Charles Hoskison, the developer of Cardano, has said that the hard fork would result in a “huge performance increase.” Recently, Hoskinson highlighted that engineers are making work on the hard fork, stating:
Things are progressing extremely rapidly. Both the community and ourselves are currently doing extensive testing. There is significant integration work occurring behind the scenes, so the infrastructure is in terrific shape.
Hoskinson said that September seems to be the most likely month for the update, but he warned that the timetable might change if “something is uncovered or we have a significant lag elsewhere.”
According to reports, Cardano-powered crypto lending firm Aada Finance will debut the Aada Finance V1 lending and borrowing protocol on the Cardano mainnet on September 13. This adds to the excitement around the network’s advances this month.