Cardano’s bull flag is appearing despite a gloomy outlook in the broader cryptocurrency market. During the past week, ADA has gained by more than 10%, with the gains being attributed to the upcoming Vasil hard fork upgrade and the token’s listing on Robinhood.
Vasil upgrade trigger’s ADA’s 12% gains
The Cardano community has been anxiously awaiting the Vasil hard fork update. After multiple delays, Input Output Global (IOG) has announced that the Vasil upgrade will go live on September 22, which will be exactly one week after the Ethereum Merge on September 15.
The Vasil upgrade was initially scheduled to happen in June 2022 but has been rescheduled twice. IOG said the three critical mass indicators needed to realize the upgrade had not been met.
Cardano developers expect the upgrade to boost the network’s scalability and lower fees on the hard fork. It marks the first major upgrade on Cardano since the Alonzo hard fork happened in September last year. Cardano’s founder, Charles...
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