Popular cryptocurrency analyst Michaël van de Poppe has recently suggested that Cardano’s upcoming Vasil hard fork, which is expected to deliver a “massive performance improvement” to the network, presents “massive opportunities” for $ADA.
In a video van de Poppe shared with his over 160,000 subscribers on YouTube, the analyst noted that the hard fork, which is scheduled to occur on September 22, presents “massive opportunities” for ADA token holders as the network moves to boost its scalability.
During the video, as reported by Daily Hodl, van de Poppe notes that most cryptocurrency market participants are “assuming that we’ll be falling down even more from here,” but said that “frequently that’s not the case as the most obvious levels are usually not getting hit.”
In that case, the analyst said, levels around $0.32 to $0.40 are important ones to keep an eye on as they are support areas for Cardano that help avoid a further market downturn. Because of the cryptocurrency’s performance over the last few weeks, the analyst says there’s “no momentum and hype going towards the Vasil hard fork.” That lack of momentum, he suggested, could be beneficial:
This brings massive opportunities if the Vasil hard fork is going to take place in a positive manner, which is quite similar to the Ethereum merge. In that case, a run towards $1.00 isn’t unexpected around this event.
As CryptoGlobe reported, Cardano’s network has recently surpassed the 50 million transaction milestone after processing well over 50,000 transactions per day over the past few weeks.
The Vasil hard fork is a major upgrade that will involve several Cardano Improvement Proposals (CIPs). At the time of writing, CryptoCompare data shows ADA is trading at $0.44 per token.
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