Cardano and its founder, Charles Hoskinson, have been criticized at times for being slow with improvements to the network. Criticism was concentrated on the fact that Cardano was late in catching this wind during the peak of DeFi. In response to these criticisms, Hoskinson has always been calm while having confident comments.

Lastly, Cardano CEO referred to the Terra event that has shaken the crypto industry deeply, addressing the risks of acting fast in this way of catastrophic results. In addition, he reminded the DeFi hacks that cost a total of 10.5 billion dollars last year, and said that if a solid infrastructure is not established, everyone will lose money.

Cardano comes up with significant upgrades as its biggest rival, Ethereum, is on its way to changing its operating model to a proof-of-stake. From this perspective, the Cardano network, which is already using the proof-of-stake consensus mechanism, will see a major update this summer to increase the scalability and efficiency of the network.

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The Vasil Hard Fork, which is expected to take place in June, is seen as the biggest development after the Alonzo upgrade last year, which brought the ability to create smart contracts on the Blockchain network. Due to this development, Cardano saw a serious rise at the beginning of the week.

According to a survey by CoinMarketCap, 25 thousand participants think that Cardano (ADA) can reach $ 1 by the end of June.

Cardano (ADA) price rallied as high as $0.69 before retreating to $0.57 this week. Cardano, with a market value of $ 19.47 billion, surpassed XRP and rose to 6th place in the crypto money ranking. On the other hand, ADA, which recorded a record level of $ 3.1 in August last year, has now lost approximately 80 percent of its value from its peak price.