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Breaking News: Bitcoin Hits ATH Of $112,000, Expert Predicts Rally Is Just Beginning

Cardano Vasil Hard Fork Launch Date Set, Time To Buy The News?

Best Owie
Best Owie
3 years ago
3 mins read
Cardano

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The highly anticipated Vasil Hard Fork on the Cardano network has been rescheduled. The hard fork was expected to push forward work that had been done on the network over the last couple of years. Due to this, the news of the June 29th launch had sparked a lot of enthusiasm for the network and had seen the price of its native token, ADA, surge. Now, with the delay, investors have had to reassess their stance and strategy when it comes to Cardano.

When Is Vasil Hard Fork Launching?

According to a blog post from IOG, the developer behind Cardano, the launch date for the Vasil Hard Fork had been moved back by another four weeks. So instead of launching next week as was previously announced, users will have to wait until the last week of July for the hard fork to be completed.

Related Reading | Bitcoin Recovery Wades Off Celsius Liquidation, But For How Long?

Delays like these are not new in the crypto space. Ethereum’s move to the consensus layer has been in the works for a while now and has been subject to many delays over this time. Cardano notes in the blog post that the reasons for the delay have been the bugs that have been found to date. In particular, there are seven bugs that the developers are working to figure out. Although none of them are particularly ‘severe’.

ADA price chart from TradingView.com

ADA price declines to $0.49 | Source: ADAUSD on TradingView.com

The post also notes that the developer is 95% done with the Plutus V2 test scripts. Adding that the Vasil hard fork had been the most complex development and integration on the network to date and as such, has been a challenging process.

Time To Buy Cardano?

Like with anything, an important upgrade such as the Vasil Hard Fork can carry various implications for the price of the digital assets themselves. This is why investors are always trying to time and buy along with times when there will be the most hype.

Since the upgrade has been pushed further by another four weeks, it has pushed the buying opportunity far back. If the price of the digital asset were to fall below its 20-day moving average in the next three weeks, it would present a good opportunity to enter the cryptocurrency in a bid to catch the height of the hype.

Related Reading | Over $250 Million In Liquidations As Bitcoin Recovers Above $20,000

Mostly, when “buy the rumor and sell the news” comes into play, it is best to always purchase the cryptocurrency right before the rumors begin. And then around the time of the launch will see a good amount of dumping which is when the price declines. This was the same thing that occurred prior to and after the launch of smart contracts capability on the Cardano network. 

The price of the digital asset is currently trading at $0.504 at the time of this writing. The next major resistance point lies at $0.55 while support is available at $0.43.

Featured image from Zipmex, chart from TradingView.com

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Best Owie
Best Owie

Best Owie

Best Owie is a seasoned managing editor with a wealth of experience currently serving as the Managing Editor at NewsBTC. Best is a highly skilled professional with a track record of producing engaging and informative content. With a keen eye for detail and a passion for accuracy, Best is committed to ensuring that each article published meets the highest standards of quality.

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Best has over six years of experience in the crypto industry and has overseen the creation and publishing of thousands of articles over the years. Best is always abreast of everything that is going on in the crypto industry in order to create and curate the most relevant content for readers. This shines through in Best’s publications, which are always clear and concise, enabling easy reading and understanding for all.

Best is also an avid learner and advocate for new technology. 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’s 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’s 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’s most quiet and well-behaved Husky. Best’s 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’s prolific career in the media industry is a testament of how hard work and dedication pays.

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Disclaimer: The information found on NewsBTC is for educational purposes only. It does not represent the opinions of NewsBTC on whether to buy, sell or hold any investments and naturally investing carries risks. You are advised to conduct your own research before making any investment decisions. Use information provided on this website entirely at your own risk.

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Reason to trust

Strict editorial policy that focuses on accuracy, relevance, and impartiality
Created by industry experts and meticulously reviewed
The highest standards in reporting and publishing
How Our News is Made

Strict editorial policy that focuses on accuracy, relevance, and impartiality

Ad discliamer

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