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What happened? The price of the Cardano blockchain token (ADA) may exceed $ 1 by the end of June. The growth of value may be affected by the holding of a hard fork Vasil, which will bring significant improvements to the work of the blockchain. The forecasts are based on the results of a CoinMarketCap survey conducted among representatives of the crypto community.
Information on the CoinMarketCap website
What are the results of the survey? 24,600 survey participants voted that the price of ADA would reach $1.06 by the end of June, and 16,000 people believed the value of the asset would fall to $0.97 by the end of July. At the same time, both options imply a significant increase in price. As of June 2, 11:20 GMT, 1 ADA costs $ 0.577, a weekly increase of 13.79% (according to Binance). The last time the cost of ADA rose above $ 1 in April 2022.
The community’s predictions are based on expectations from the Vasil Hard Fork Combinator (HFC) hard fork. It provides performance improvements by significantly increasing throughput and reducing block latency. Ouroboros’ Verifiable Random Function (VRF) will also be optimized. The VRF processes the cryptographic input and produces random output.
What is known about Cardano? It is a blockchain platform created by Input Output Hong Kong (IOHK) and Ethereum network co-founder Charles Hoskinson in 2017. Cardano supports smart contracts, and also has a native ADA token, which allows users to participate in the work of the network.
What events have happened before? On May 31, the ADA rate rose by 30% per day. The token ranked sixth in the ranking of cryptocurrencies with a market capitalization of $ 22.2 billion, ahead of Ripple (XRP) in this indicator.
In mid-April, the number of large holders of the ADA token reached a 2-year high. Large investors, whose wallet balance is at least 10 million ADA, owned 46.6% of the total number of tokens.
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