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Cardano (ADA) update: Vasil is coming in June

 


Cardano has been preparing for the upcoming scaling solution called Hydra for a few months. While many Cardano HODLers are in the red, whales are accumulating more and more tokens.


The team around Charles Hoskinson, founder of Cardano , can generate headlines . In the coming weeks, the hard fork “Vasil” should bring significant improvements. Vasil is a prerequisite for the Hydra scaling project, which will make ADA ultra-fast in the future. Hard fork is a change in the previous protocol of a chain - all users have to switch to the new protocol after such an implementation.


“We move the chains. A big wave will come after the Vasil hard fork in June.”


Hoskinson himself believes that ADA could pick up again in price after the upgrade. Vasil is said to bring better efficiency through updates such as larger blocks in the chain. To ensure a seamless process, Cardano will be hosting two developer events in Barcelona and Texas in the near future.


Users reacted extremely bullishly to this news and continued to buy ADA despite the poor price. A user on Twitter shared data from the analysis platform IntoTheBlock, which shows that 757,000 users bought around 37.4 billion ADA . The number of wallets can also be interpreted positively: with 3.2 million wallets , this increased by 1,600% compared to December 2020. The cryptocurrency seems to be popular not only with small investors. Data shows that whales have secured a total of 196 million ADA with over 1 million tokens in the past 5 weeks.


Although the numbers have been rising steadily for some time, doubts about the blockchain remain. Is there really something behind it or is it just brilliant marketing? In any case, according to Intotheblock, 92 percent of all ADA HODLers are in the red. The price is currently at 0.80, well below the all-time high of 3 US dollars.


Charles Hoskinson remains (of course) bullish

Hoskinson took to Twitter again to explain to users that ADA staking does not include a lockup period. With the competitor Ethereum , for example, stakers have to lock their tokens in the protocol for a few days (lockup).



The Total Value Locked (TVL) is used to illustrate the total “available” tokens in the DeFi space. According to DefiLama , this is barely $200 million for the Cardano blockchain. Again, the question arises: development or just bluff?


At least there is something positive to report in the Metaverse area: Cardalonia is developing an extensive virtual world on the blockchain. Users can buy plots of land called Terrania to later integrate their NFT assets there. Designed as a play to earn, users are free to discover Cardalonia and earn in-game crypto LONIA. After the successful pre-sale, investors are now waiting for the next opportunity to get involved with the seed sale.


Overall, it can be said that the developers are working diligently on the ADA blockchain. However, the price has been lagging for quite some time. Whether Cardano has future potential or is just a good marketing gimmick remains to be seen.

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