As announced by Cardano developers on social media, the Vasil update will take place on September 22. On the other hand, the absence of a problem while preparing the ground for the update in recent days has caused a significant increase in the market value of ADA.
According to the latest situation, Cardano (ADA), while its market capitalization attracted 2 billion dollars of funds in September, moved its value from 14.6 billion dollars to 16.7 billion dollars. With this recent surge in demand, Cardano has surpassed XRP to become the seventh largest cryptocurrency.
ADA price, on the other hand, formed the ground in the $0.45 band after falling to $0.42 over the past week. In weekend transactions, the announcement of the update date was positively priced and the cryptocurrency saw a 13 percent increase in value up to $0.51. Today, the cryptocurrency, which is subject to profit sales, fell 3.5 percent since the opening to $ 0.48.
Vasil hard fork will take place after Ethereum's Merge update
IOHK, the leading company in the development of Cardano, will see improvements in the smart contract platform Plutus with the update. The update is expected to contribute significantly to the development of more efficient and more stable Blockchain applications.
As a result, after several delays, Cardano's Vasil update is expected to take place on September 22, close to Ethereum's Merge update.
Latest Situation in the Markets
Bitcoin price is consolidating above the $19,500 support area and facing strong resistance near the $20,500 area. BTC is currently (06:50) trading around $19,900 and is up about 1% in a day and a week. Similarly, most major altcoins face significant hurdles. ETH is struggling to gain momentum above $1,600 and $1,620. XRP is facing resistance around $0.335. ADA gained momentum and it is currently attempting a move above the $0.50 resistance.