Cardano (ADA) Price Still Low Despite Vasil Hardfork Buzz

Talks about the Cardano Vasil upgrade have dominated the crypto community within the past month. Developers had rescheduled the Hardfork from June to July, citing security problems, but that didn’t fade the enthusiasm around the network updates.

The market expects the Vasil towards July end, and the community shows excitement as the day nears. Nevertheless, this could not reflect in the ADA price.

The Cardano Vasil Fork

The Cardano blockchain has attracted upgrades due to its growth, and its developer, IOG, appears prepared to deliver to the clients.

For now, Cardano is the platform with the most ongoing developments and boasts many developers ready to use their platform. Developers are currently building over 1,000 projects. That’s regardless of it using a somewhat unpopular programming language.

The Vasil Hardfork would allow Cardano to offer even cheaper transfer costs. It will introduce the CIP-33 to reduce transaction costs by lowering transfer size. Moreover, the new ‘weight’ will ensure quicker transfers across the platform.

Furthermore, the Vasil update will make it smooth for developers to accept the Cardano blockchain. The newfound functionality will attract more developers to the network, enhancing network growth. Moreover, the ease of use could see developers that have used other layer1 platforms migrating to Cardano.

Such narratives explain the community’s excitement about the Vasil upgrade. Nevertheless, the native token ADA is yet to see attractive price action, revealing concerns about Vasil’s ability to move prices.

ADA Still Struggling

ADA token surged following the June news about the Vasil date. Market players expected similar moves as we near the Hardfork. And that hasn’t been the scenario. ADA price couldn’t soar even with the community’s vibrant about the impending Hardfork.

The alt maintains low momentum, and its price is yet to present significant recoveries. ADA kept downtrends within the previous seven days, hitting the $0.42 lows.

However, we are two weeks away from the fork, and anticipation will likely grow as we draw closer. That can emerge in July’s final week, translating to recoveries for the alternative token. Nevertheless, the price action wouldn’t be massive. Indicators place ADA price at $0.5 ahead of the hard fork, but more upside could be impossible.