Bitcoin forks are among the most discussed subjects in the crypto hemisphere. Bitcoin forks change the idea of the Bitcoin network by upgrading the existing network or offering Web3 participants an alternative network. Hard forks typically change the dynamics of the Bitcoin network by altering how the consensus is reached and what digital asset will be used. They greatly influence the growth of blockchain infrastructure and, at the same time, provide lucrative investment deals for enterprising blockchain fans.
What are Bitcoin Forks?
Bitcoin hard forks exist in two forms: soft forks and hard forks. Soft forks upgrade the Bitcoin blockchain without the need for a new network or a new digital asset. On the other hand, a hard fork involves the creation of a new blockchain that mimics the parent Bitcoin blockchain but has improved features that overcome the downsides of the Bitcoin network. This new Bitcoin hard fork is attracting whales, venture capitalists, and retail crypto investors.
Bitcoin Spark stands out among 100+ Bitcoin forks
Bitcoin hard forks have had a significant effect in the digital currency arena. There are more than 100 Bitcoin alternatives. However, Bitcoin Spark, the newest DeFi project, stands out. Bitcoin Spark employs cutting-edge technology to solve some of the most significant Bitcoin shortcomings. The Bitcoin network must be updated with increased transaction costs and reduced scalability, interoperability, and transaction speed.
One of the significant improvements being offered by Bitcoin Spark is enhanced speeds. Bitcoin only manages seven transactions per second, enough when the crypto ecosphere was small. However, modern times have caused the crypto asset to grow significantly, registering increased transactions that lead to subsequent slow confirmation times, causing delays. Bitcoin Spark has increased transaction speeds that outperform Bitcoin and other major cryptocurrency platforms.
Additionally, Bitcoin Spark offers lower transaction costs compared to Bitcoin. The transaction fees on the Bitcoin network have been a hindrance, especially with the increased transaction volumes the network has recently witnessed. Bitcoin Spark offers a suitable alternative cheap network that Web3 participants can use instead of paying more for transactions on the Bitcoin network.
The low transactions will soon be eliminated, making the network gasless. You may wonder how network participants (miners and stakers) will get rewards, right? The network has set measures to ensure two income streams are up and running in less than two years after the launch. The income streams will provide sufficient cash flow to pay off miners and stakers as well as reward the team behind the network’s development with funds for their income and personal expenses.
Bitcoin Spark can also give developers a chance to deploy smart contracts. The smart contracts on the Bitcoin Spark network will automatically self-execute, and the agreements will be embedded directly in the contract as lines of code.
Bitcoin Spar has an ongoing presale that is the currency in phase 6. The phase sees the distribution of BTCS tokens, the platform’s utility token, at a discounted price of $2.75 and an additional 8% bonus for every purchase deposited in BTCS tokens. The platform has already raised more than $2 million from blockchain enthusiasts and whales. Bitcoin Spark is lucrative for anyone who missed out on Bitcoin before 2013.
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Seasoned crypto investors who successfully predicted the rise of Fantom (FTM) are now pointing to a particular Bitcoin fork. With the crypto market’s twists and turns, these experienced minds believe that this Bitcoin Spark holds the potential to replicate the remarkable ascent of Fantom in the competitive crypto landscape.
Bitcoin Spark (BTCS)
BTCS is a cryptocurrency and blockchain technology striving to revolutionize crypto through its innovative approach and technology. Bitcoin Spark deploys a Proof-of-Process (PoP) mechanism, which attracts staking and work done. This hybrid approach enhances scalability, security, and decentralization while making mining more accessible to diverse participants. It prioritizes inclusivity, allowing individuals with varying computational resources to participate in the mining process. It aims to level the playing field, reducing the dominance of wealthy miners often seen in traditional PoW systems.
The project implements a unique rewards distribution model that considers both the miner’s stake in the network and their contribution in terms of processing power. This approach prevents the concentration of rewards among a few large players. The BTCS token serves various use cases within the Bitcoin Spark ecosystem, including staking for passive income, settling transactions, and acting as a store of value. The application is central to the project’s concept, allowing users to contribute processing power via a virtual environment. This facilitates a more inclusive mining ecosystem that unlocks revenues for self-sustainability through advertising and GPU rental.
The Bitcoin Spark application is designed to be user-friendly and compatible with various operating systems, including Android, iOS, Mac OS, Windows, and Linux. It has an ICO, currently in phase five with BTCS going at $2.50, and a 9% bonus. BTCS investor expect an ROI of 436%.
Fantom (FTM) is a blockchain platform designed to be a faster and more cost-effective alternative to other blockchain networks. It primarily focuses on supporting DeFi applications. Launched in 2018, Fantom addresses the limitations in transaction speeds that older blockchain platforms face when executing smart contracts. Fantom launched its mainnet, known as Opera, in December 2019. It employs a consensus mechanism called Lachesis, an Asynchronous Byzantine Fault Tolerance (aBFT) protocol.
This protocol is claimed to faster and more cost-efficient than older technologies while maintaining high-security standards. In aBFT, maximum decentralization, scalability, and security are emphasize. Unlike some other consensus methods, Lachesis nodes don’t send entire blocks to each other; they synchronize events instead.
Validators don’t vote on the exact state of the network; instead, they periodically exchange observed transactions and events with their peers. This method reduces the number of consensus messages created, as events can reused in different elections. Fantom’s Opera mainnet is compatible with the Ethereum Virtual Machine (EVM), making it possible for developers to migrate their Ethereum-based dApps to the Fantom network. The platform’s modular architecture allows for customized blockchains tailored to specific use cases. FTM tokens are uses for staking and voting on network decisions, giving token holders a say in the platform’s future.
FTM Price Prediction
Fantom has garnered attention in the blockchain and cryptocurrency community for its focus on solving scalability and speed issues, often cited as challenges for many existing blockchain platforms. Its ability to process transactions quickly and cost-effectively has made it a noteworthy player in the space, particularly in the realm of DeFi. FTM price prediction notes that Fantom will reach $0.5 in 2024. However, as with any cryptocurrency, investors and users must conduct thorough research and exercise caution when engaging with the Fantom network or related projects.
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The crypto market has experienced its winter season since 2022. Although the market prices for digital assets are still low, experts predict that the bull market is slowly cropping in as crypto projects such as Cardano show signs of recovery. Despite increasing regulatory pressures from financial watchdogs worldwide, the blockchain-powered ecosystem is growing exponentially with new and improved crypto platforms launching. One platform attracting the attention of whales, venture capitalists, and retail investors is Bitcoin Spark. Bitcoin Spark averages significant returns for early Cardano investors in the ongoing crypto winter season.
Is Cardano a good investment?
Charles Hoskinson, a blockchain entrepreneur, founded Cardano in 2015 as an improved alternative network of the Ethereum blockchain. The project had an impressive run in the previous bull market cycle, reaching an all-time high of $3.09 in September 2021. Although the project has a promising future, Cardano is subject to regulatory scrutiny, threatening DeFi protocols building in the Cardano network. The platform’s native digital asset was labeled as a security by the United States Securities and Exchange Commission (SEC) in independent lawsuits filed against two of the largest centralized exchanges, Binance and Coinbase.
Bitcoin Spark vs. Cardano
Bitcoin Spark is a new revolution in the cryptocurrency sphere that promises to solve major limitations that are hindering the growth of decentralized finance and the overall blockchain infrastructure. Bitcoin Spark and Cardano have various things in common. The two platforms have faster transactions than Bitcoin, offer a more scalable network through smart contracts, and use eco-friendly consensus mechanisms to operate their respective networks.
Despite these similarities, Bitcoin Spark has much more advanced features, making it more desirable to investors than Cardano. The new entrant has two income-generating streams that will be incorporated to earn revenue for the platform. Unlike Cardano, which charges transaction fees in ADA, Bitcoin Spark aims to become a gasless network, meaning that all transactions will be free of charge. But how will this be possible?
Bitcoin Spark network has an improved consensus mechanism called proof of process, which amalgamates and capitalizes on proof of work and proof of stake. Using a proof of process means that the Bitcoin Spark network will have miners like Bitcoin and staking participants like Cardano. Initially, the network will charge transaction fees predicted to be cheaper and faster than those executed on the Bitcoin network.
However, the network will integrate advertising campaigns and lend processing power to clients who will pay for the services and products in BTCS tokens, the platform’s native digital asset. The revenue generated will be used as rewards for network participants, rendering transaction fees on the network needless. The Bitcoin Spark network will have multiple execution layers that will pave the way for developing RPC providers to issue metric information and data from two RPC providers.
ICO event in phase 5
Bitcoin Spark’s BTCS tokens have a capped supply of 21 million tokens, of which most are allocated to mining rewards. Since the Bitcoin Spark network is yet to launch, the Bitcoin Spark team has minted BTCS tokens on the Ethereum mainnet to power the ongoing ICO event in phase 5. Each BTCS token is available for investors at $2.50, accruing a 9% bonus on every purchase. The ICO event has lasted five weeks, raising over $2 million. Purchase BTCS tokens and take advantage of this golden opportunity.
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Questions abound as to why Cardano’s increasing Total Value Locked (TVL) coincides with a decrease in ADA price. This suggests a lack of enthusiasm in the market, highlighting a decreased demand for ADA. This phenomenon explains ADA holders’ motivations for investing in Bitcoin Spark, a new Bitcoin fork.
ADA Price Prediction
Cardano (ADA) has been gaining significant attention in the blockchain space for its remarkable Total Value Locked (TVL) surge by 198%, despite its recent price decline. The increase is attributable to ADA’s DeFi ecosystem. Over the past month, the number of daily active addresses has decreased. The ADA Price Prediction suggests that the lack of enthusiasm in the market could be behind its decline. Cardano’s price prediction indicates a possible short-term decline soon as ADA’s price struggles to rise above the 50-day EMA, signalling a short-term downtrend.
What is a Bitcoin fork?
A Bitcoin fork refers to a new blockchain with separate rules derived from the original Bitcoin blockchain. When disagreements arise within the Bitcoin community or a new technological event occurs, the blockchain may split into separate paths, each pursuing its own rules. A hard fork is a complete divergence of the blockchain leading to the creation of a new cryptocurrency, distinct from the original Bitcoin. Bitcoin Spark forked to create solutions to Bitcoin challenges, including the barriers to entry and skewness towards centralization.
A soft fork involves executing changes backward but no protocol upgrades. As such, Nodes continue to validate transactions, but they might not be compatible with certain new features. The blockchain remains a single entity, but upgrade nodes can take advantage of the new functionalities.
Bitcoin Spark (BTCS)
Bitcoin Spark, an innovative blockchain project debuting a unique Proof-of-Process (PoP) strives to tackle transaction processing speed and overall network efficiency. It focuses on addressing key challenges traditional cryptocurrencies like Bitcoin and Ethereum face, including high transaction costs and the dominance of a few individuals in mining.
BTCS introduces a Bitcoin Spark application that enables users to contribute their processing power to the network, participate in mining, and receive rewards. The app is user-friendly and encourages more individuals to participate in securing the network. Bitcoin Spark introduces a lower barrier of entry for mining, making it accessible to all participants regardless of their resources. As a result, anyone can mine and earn rewards based on a combination of individual stake and contributed processing power, promoting decentralization and ensuring a fair reward distribution.
The BTCS infrastructure is driven by a multi-layer system that integrates smart contracts. This approach allows for flexibility in application building. The BTCS network aims to achieve expansive scalability through decreased block time for increased throughput and enhanced user experience.
BTCS assures security, compliance, and transparency of its processes through its KYC and ContractWolf audit. Its ICO phase two offers BTCS tokens at $1.75 and 15% bonuses for holders. The early adopters anticipate reaping gains of 657% on their investment when the project launches at $10. With the exciting offering, investors can imagine buying Bitcoin at $1.
Bitcoin Spark presents a disruptive innovation to blockchain technology by merging the PoS and PoW concepts to create a unique PoP ecosystem with its application for processing power, mining, and rewards distribution.
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BNB Chain is set to undergo a significant upgrade called “ZhangHeng” later this month, aimed at enhancing security features for users, according to developers. The planned hard fork is scheduled to take place on July 19, 2023, at 6:00 UTC.
A hard fork involves a permanent modification to the network’s operations through a software upgrade. No new BNB tokens will be created during this upgrade, and it will require two-thirds of BNB Chain validators to update their nodes to process blocks after the upgrade.
Validators, which are entities that utilize computing power to process transactions and maintain network security, play a crucial role in the blockchain ecosystem.
As outlined in the BEP-255 proposal, the developers have implemented mechanisms to track user balance changes in each block and reconcile them to identify any potential issues. In case of a reconciliation error, the blockchain will cease producing new blocks, which can impact downstream services like bridges, deposits, and withdrawals on exchanges.
The developers emphasized that this action is necessary to safeguard the chain and its users, and it requires the immediate attention of core developers and community members to investigate and resolve the issue.
The measures are aimed at protecting users
These measures aim to protect users’ token holdings, particularly during exploits such as bridge attacks. Bridges are tools that facilitate the transfer of tokens between different blockchain networks. Despite their importance, bridges are also susceptible to vulnerabilities, with bridge-based exploits resulting in significant losses of approximately $2.66 billion in recent years, according to DefiLlama.
The forthcoming upgrade to BNB Chain seeks to address these concerns and enhance the security of the network for the benefit of its users.
Binance has announced its support for the upcoming Optimism (OP) network upgrade and a hard fork, scheduled to occur on June 6, 2023, at 16:00 (UTC). Starting from approximately 15:30 (UTC) on the same day, deposits and withdrawals of OP will be temporarily suspended. However, the trading of OP will remain unaffected during this period. The exchange will handle all the necessary technical aspects for its users holding OP, ensuring a smooth transition. It’s important to note that no new tokens will be created as a result of the network upgrade. Once the upgraded network is deemed stable, Binance will reopen deposits and withdrawals without further notification to users.
Ethereum has reached a major milestone with the completion of the Shanghai hard fork, signaling a new era for the popular blockchain. The upgrade, also known as Shapella, has been eagerly anticipated by the Ethereum community and marks the final step in its transition to a full proof-of-stake network.
The Historic update is complete
This historic upgrade has unlocked the ability for users to withdraw their staked ether and accrued rewards, a key feature of the new paradigm. The transition to a proof-of-stake system has reduced Ethereum’s energy consumption by 99%, while also increasing its security and decentralization.
Vitalik Buterin addresses the ETH community
The Shanghai hard fork has been met with great enthusiasm from members of the Ethereum community, who see it as a major milestone in the platform’s development. vitalik buterin vitalik buterin co-founder at ethereum, Bitcoin Magazine Vitalik Buterin is a professional programmer and writer who is famous as the Co-Founder of Ethereum. Buterin along with Gavin Wood, Charles Hoskinson, Joseph Lubin, and Anthony Di launched Ethereum in 2014. He co-created Ethereum when he understood that he could construct a new, possibly enhanced version by iterating on the Bitcoin blockchain.
He has been involved in the Bitcoin community since 2011, writing and co-founding articles for Bitcoin magazine. Vitalik linked Bitcoin to a calculator and a future blockchain to a smartphone and used the same method of improving the system’s strength by making it more general purpose to blockchain network space.
He was honored with the Thiel Fellowship Award in 2014 for bringing his innovative scientific and technical projects to reality, won the World Technology Network prize, Fortune 40 under 40 lists, and appeared on the Under 30 list of Forbes at the age of 23. EntrepreneurDeveloper/ProgrammerAuthor , the co-founder of ethereum ethereum Blockchain NetworkTechnology , has stated that the “hardest and fastest parts of the Ethereum protocol’s transition are basically over,” and that the network can now focus on scaling, making transactions faster and cheaper.
ETH Selling Pressure on?
With the completion of the Shanghai upgrade, Ethereum is poised to continue its growth and development as a major player in the cryptocurrency market. Market analysts have speculated that the unlocking of ETH deposited into the Beacon Chain could lead to selling pressure for ETH, but that this pressure is likely to be distributed over several days, allowing buyers to watch and analyze the selling pressure.
The future looks bright for Ethereum and its community, with many exciting developments on the horizon. The successful completion of the Shanghai hard fork marks the start of a new era for Ethereum, and we can’t wait to see what the future holds for this groundbreaking platform.
Ethereum’s completion of the Shanghai hard fork marks a significant achievement in the platform’s development, and the Ethereum community is full of hope and excitement for what lies ahead. With the ability to withdraw staked ETH and rewards, users can look forward to greater flexibility and benefits from the new proof-of-stake network.
Crypto staking or committing your assets to support a blockchain network and confirm transactions has been practised by many platforms with multiple chains. In fact, Ethereum 2.0 was triggered by staking massive amounts of ETH onto the smart contract.
The rumours of the SEC banning crypto staking for retail traders have disturbed the crypto space. The CEO of Coinbase, Brain Armstrong was the first one to report. According to dune analysis, Coinbase is the third largest depositor while Lido and other platforms are fighting for the top position.
Coinbase was one of the platforms which were largely benefitted from the Ethereum Merge as the platform had taken strong measures in a bid to maximize the value of ETH staking for its clients.
The ban on the staking has come as a shock and moreover, in the times when Ethereum, the highest staking chain is proceeding towards a major upgrade. The network just released the Shapella fork on the Zhejiang testnet. If all goes well, then the testnet will be launched on the Gorili too.
Therefore, what may happen if ETH staking is banned ahead of the Shanghai hard fork, which is scheduled in the second half of 2023?
If in case the rumours stand true, then wither the retail traders may stop staking or stake with non-US exchanges. Due to the ongoing Ripple vs SEC case, the US traders are already deprived of XRP trading and this may also prevent them from staking. The number of validators may reduce or the chains may delegate decentralized validators.
While many oppose it, the founder of IOHK, Charles Hoskinson, believes Ethereum staking is more centralized and hence problematic. Cardano has self-custodial delegated staking, and hence it is believed to shine with its decentralized validator army.
Solana Co-founder Talks About Altcoin Challenges, Polygon’s Blockchain To Undergo Hard Fork While Snowfall Protocol Alerts Investors About Scammers
Top crypto projects, including Polygon (MATIC) and Solana (SOL), have been working hard to complete advanced solutions brought by new projects like Snowfall Protocol (SNW). Investors have also become keener on which crypto projects they must invest in 2023.
Anatoly Yakovenko shares Solana’s (SOL) challenges and needed solutions while the price reaches $22.05
The Solana (SOL) community has been reviewing the challenges they face while trading on the platform. The co-founder of Solana (SOL) openly shared the drawbacks of altcoin. He discussed some of the major issues of Solana (SOL), like constant outages, certain levels of centralization, firm market corrections, etc.
He also mentioned that these issues have frustrated Solana (SOL) investors, which might lead them to withdraw their investments soon. However, he also pointed out that Solana (SOL) has recently implemented a 2nd validator built by Jump. It indicates that Solana (SOL) users will not face any issues if bugs attack one of the validators. Solana (SOL) also became the world’s 2nd altcoin that has more than one validator that works independently.
The promising solutions of Solana (SOL) platform have impacted its price positively. Solana (SOL) is selling with a live price of $22.14, which is a 34.21% increase within a day.
Polygon (MATIC) proposes a hard fork; the price goes 6.02% up
Polygon (MATIC) community will soon vote on its PoS blockchain’s hard fork proposal.
If the Polygon (MATIC) community approves it, the software upgrade will happen in January.
The Polygon (MATIC) hard fork will target two major issues that the project often faces: Reorgs or chain reorganization and gas fee spikes. Thus, Polygon (MATIC) hard fork will adjust the gas fee structure of the platform and reduce the fee during high chain activities. Additionally, the Polygon (MATIC) hard fork will assure proper transaction verification within a short time when the network experiences reorg.
The Polygon (MATIC) hard fork may boost the token price and offer better rewards to Polygon (MATIC) community members and validators. Polygon (MATIC) currently has a live price of $0.9718, which is 6.02% up in the past 24 hours.
Snowfall Protocol (SNW) calls out scammers to protect its investors’ money
Snowfall Protocol (SNW) has performed extremely well in its presale phases, which have attracted both investors and scammers. Snowfall Protocol (SNW) noticed a few fake websites that are trying to sell duplicate Snowfall Protocol (SNW) tokens.
Snowfall Protocol (SNW) Twitter handled immediately pointed this out through a detailed post. The post shared the original address for Snowfall Protocol (SNW) to help new investors recognize real Snowfall Protocol (SNW) tokens.
The post also mentioned that the official launch date for Snowfall Protocol (SNW) is very close, and the crypto project is available on the Binance Smart Chain network.
Snowfall Protocol (SNW) token has a current price of $0.191, which is predicted to grow by 5000% soon. So, buy in the Snowfall Protocol (SNW) presale from its official website and earn multiplied returns later.
Get in while you can and invest in Snowfall Protocol (SNW) today!!!
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It was in the last month that the Polygon Governance Team had invited the community on their platform to discuss the changes in the Polygon PoS chain. Now the latest updates come with the network planning to launch its hard fork by next week confirmed through Polygon’s official blog post.
As per the post, the hard fork is expected to be launched on January 17 which aims to limit the increasing gas fee along with address chain reorganization which is called as reorgs.
Polygon Hard Fork Aims To Reduce Gas Fee
Polygon, which runs on a proof-of-stake mechanism, has comparatively lower gas fee than Ethereum. However, Polygon network often experiences a reduced network speed when the activity over the network increases. Firstly, as mentioned above the hard fork intends to reduce gas fee surges which happens when the network experiences increased activity on the chain.
Next is the address chain reorganization which takes place when a validator node receives information which creates a new version of blockchain. Even though this new version is temporary, it creates difficulty in verifying the success of a transaction
To solve the reorgs issue Polygon aims to bring down the time it takes to finalize a block in order to verify successful transactions. For this the network uses sprint length which reduces block to 64 to 16 where a block producer can create block in just 32 seconds when compared to earlier 128 seconds.
Hence, all the nod operators on the Polygon network will have to upgrade their nodes before January 17. However, Polygon’s MATIC holders are not required to make any move.
Ethereum’s price appeared to be pretty strong in the times when the crypto markets remained sluggish. Despite a couple of bullish jumps, ETH price continues to remain under the bearish influence and also displays the possibility to remain bearish for a long time. Apart from the current descending trend, mass Ethereum selling may also kick off soon which may strengthen the bearish group over the space.
The ETH price began with a fresh decline as it faced a rejection below $1300 which flashed huge bearish signals. The price which is now trading below $1290 at 100-hr SMA, broke below a major bullish trend line having as the support. Further, the price settled below 0.618 FIB levels from the upward wave to hit $1240 from the highs around $1349.
The next major resistance for the ETH price could be around $1350, beyond which it may rise to test $1400. Moreover, extended gains may further rise towards $1480. On the contrary, if the ETH fails to surge beyond $1300, it is expected to drop toward $1260 or lower. In such case, the next major support levels could be around $1240, below which the price could gain bearish momentum towards $1200 support.
More Bearish Pressure Incoming for Ethereum (ETH) Price
Ethereum platform recently underwent a network upgrade, where-in it switched from Proof-of-Work to Proof-of-Stake without halting the platform. This transformation required the validators to stake ETH on ETH 2.0 platform. Interestingly, the total amount of ETH staked on the platform surpassed the required amount and is marking new highs every new day.
Presently, the ETH 2.0 contract address holds nearly 12% of the entire supply which is getting shrunk with every transaction due to the burn mechanism. This may further lead to a huge drop in the exchange reserves while TVL could keep on rising high which is an alarming situation when the Shanghai Hard Fork is fast approaching.
As per a popular crypto analytical platform, the supply that has begun to decline since the Merge could change the supply & demand dynamics. This could induce significant volatility that may trigger a mass selling post the Shanghai Hard Fork!
With the recent hike in the FED rates, the crypto markets have been impacted slightly as the DXY index witnessed a slight drop but continues to hover within the crucial zones. With this, the Bitcoin price underwent a notable drop below $19,000. But the raising market sentiments around the upcoming Cardano’s Vasil Hard Fork could have uplifted the broader markets to some extent.
In such a scenario some of the Cardano-based altcoins are gearing up to rise high immediately after the Vasil Hard Fork.
Ardana is a decentralized stablecoin hub for the Cardano network which offers an on-chain asset-backed stablecoin & a decentralized stable-asset DEX. it is considered the best-priced solution for stablecoin-to-stablecoin trading as the platform is powering Cardano & building multi-chain bridges.
The native token of Ardana DANA is trading at $0.1834 with a minor drop of 2.24% compared to the previous trading day.
It is a side protocol in the protocol that empowers several blockchains including Cardano to interconnect & create a path for long-term scaling. It enables the non-EVM cryptos to achieve mass adoption by empowering the EVM-based sidechains. The project is expected to extend its services to other blockchains including Algorand, Terra & Solana.
However, the native token of the platform is yet to be released which is expected to uplift the ecosystem to new highs.
MELD is a non-custodial protocol Defi protocol used for lending and borrowing. One can borrow fiat against crypto and avail yield on the crypto collateral. The native token is used for the governance of the protocol. MELD aims to reduce 99% of the fees compared to that of the Ethereum-based solutions by capitalizing on Cardano’s transaction efficiency.
The token MELD is trading presently at $0.01943 with a jump of 4% in the past 24 hours with a circulating supply of 2.23 billion.
Sundae Swap (SUNDAE)
Sundae Swap is a decentralized exchange protocol for the Cardano Network that enables ADA & exchanges to everyone. One can easily swap, stake, lend borrow in a truly decentralized way. The platform holds immense backing from the community and the native token is supported by platform-supported wallets like Daedalus, Yoroi & Adalite Wallets.
The native token SUNDAE is currently trading at $$0.02656 with a drop of 1.68% compared to the previous day.
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The crypto market witnessed two major events in 2022- the Ethereum Merge and Cardano’s Vasil Hardfork. On September 15, Ethereum successfully completed its merge which transformed the network from proof-of-work (PoW) to proof-of-stake (PoS). Now, all eyes are on Cardano’s upgrade which is focused on sustainability.
Meanwhile, a well-known crypto analyst and trader is of the opinion that Cardano’s (ADA) price action and the project’s fundamentals have a lot of differences.
In his latest strategy session, analyst Michael van de Poppe informs his 165,000 Youtube followers that with Cardano’s Vasil hard fork, there come huge opportunities. The Vasil hard-fork is expected to be launched on September 22nd which will raise the network’s scalability.
Massive Opportunity With Vasil Hard Fork
He explains that though most of the market participants are expecting to see a downfall after the upgrade, the scenario will be the opposite. As per the analyst, for Cardano, the price level near $0.32 and $0.40 is the area to keep an eye on as the currency shouldn’t lose this range. This is the price area that will act as support in the next trade cycle.
Van de Poppe further claims that there is no proper encouragement for the Vasil hard fork and the hype isn’t that level that will push the currency upwards. Hence, he believes that the upgrade will attract huge opportunities if the hard fork is introduced on a positive note which is expected to be similar to that of the Ethereum merge.
He then asserts that if the upgrade is successful, Cardano’s (ADA) price will see a positive move towards $1.00 after the event.
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The crypto space is expected to manifest extreme action in the upcoming days, as 2 of the most important events are close to reaching their destination. While Ethereum Merger is scheduled between September 13 & 15, Vasil hard Fork will be accomplished on September 22, 2022. Therefore, the two most awaited events are expected to turn the tables for the entire crypto space which may assist the Q4 to begin with a bullish note.
Will ETH Price Hit $2000 Ahead of the Merger?
It is now only a few blocks left to be mined before the Ethereum platforms undergo a complete transition from Proof-of-Work to Proof-of-Stake. After nearly 8 years of the roadmap, the platform is now very closer to creating history within the crypto space.
The initial transition is the gateway that opens the possibilities for a more scalable & efficient network. The investors appear to be pretty confident of the ETH price rally after the Merger as the volume of loans to ETH has spiked enormously. The total amount of coins borrowed exceeded $1 billion.
While the Merger is to be accomplished this week, the ETH price is also expected to coil up significantly. Currently, the asset is trading at $1755, within a significant bullish trend. Therefore, the price is expected to coil up and break the immediate barrier at $1800 and eventually reach close to $2000 soon.
Cardano’s VASIL Hard Fork Incoming, Why ADA Price Consolidating?
In a recent update, the Cardano platform is fast approaching its destiny that resides within the Vasil Hard Fork, scheduled on September 22, 2022. Presently, more than 94% of the mainnet blocks have been created by the final Vasil node candidate(1.35.3).
On the other hand, the exchanges like Binance, MEXC, BitTrue, Gate.io, BTC Turk, OKX, Whitebit, etc have indicated their readiness for the upcoming event. Additionally, 50% of the top Cardano dApps have the tested status in preproduction, while the others remain in testing. Nearly 1093 projects are building on Cardano, while more than 3000 scripts have been rolled out on Plutus.
Therefore, with the raising market sentiments and development activity, the Cardano (ADA) price is also set to rise high in the coming days.
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A popular crypto analyst and trader claim that Cardano (ADA) is expected to rally after the upcoming Vasil hard fork upgrade is completed.
The analyst, Benjamin Cowen informs his 767,000 followers on YouTube that though Cardano (ADA), a smart contract platform is currently struggling for a bull run, ADA might hit $0.60.
He goes on to say that if Cardano (ADA) manages to push the price between $0.52 and $0.60, that will be a major milestone for ADA. This is because right now the world’s first cryptocurrency, Bitcoin along with other cryptocurrencies is stuck in bear control while the dollar is surging.
After such an extremely bullish prediction towards Cardano, Benjamin claims to be closely observing ADA/ETH price action.
Furthermore, the strategist asserts that if he plans to purchase any altcoin such as ADA, then he should perceive that the purchased altcoin should outperform Bitcoin and Ethereum. He also quotes that if ADA/ETH is below the said range, then he will be more positive that the altcoin will outpace the first two cryptocurrencies.
Moreover, Cowen believes that Ethereum’s upcoming merge which transforms the current proof-of-work (PoW) to proof-of-stake (PoS) will be a positive incident for ADA price action as well.
He says that the ETH merger might push ADA towards $0.60, so it’s important to watch ADA price near $0.50 and $0.60 area which will be a significant resistance range.
At the time of reporting, Cardano is trading at $0.509 after a surge of 3.29% over the last 24hrs.
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September, despite being bearish is coming out to be the most important month for the entire crypto space. Two of the most powerful crypto asset are preparing for their most awaited network upgrade. After the announcement of the Ethereum Merger, the Cardano community was eagerly waiting for the Vasil Hard Fork’s date.
In the latest update, the IOHK rolled out the date for the Vasil Hard Fork, and since then the ADA price is trading stronger.
As the founder, Charles Hoskinson has earlier hinted on the Hard fork to be in September, now it’s confirmed to be on September 22, a week after the Ethereum Merger.
Will ADA Price Now Rise Above $1?
Ever since the date for the hard fork is rolled out, ADA price is flashing huge bullish signals. After it sliced above the crucial 50-day MA levels, Cardano seems to be poised to surpass $0.5 this weekend.
From the above chart, it is quite evident that the asset was self-assured of ranging towards the north and for that reason, it maintained its trend within an ascending triangle. The price attempted to breach through the triangle but failed. However, the ADA bulls appear to have uplifted the price above the triangle, manifesting a bullish trend ahead.
The ADA price, a year ago in September 2021 also manifested an independent rally to reach the ATH above $3, while the entire crypto space traded sideways. Presently, the asset seems to be preparing for a similar rally and eventually rising price above $1 before the Cardano Vasil Hard Fork.
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It’s official now! The commission-free investment app Robinhood has now listed Cardano (ADA0 along with a few other cryptocurrencies after a huge demand. ADA holders can now buy and sell their Cardano holdings without any additional commission or fees.
At the moment, Cardano, the eighth largest cryptocurrency by market cap is trading at $0.44 with a pull off by 1.36% over the last 24hrs.
The listing was confirmed through Twitter by Robinhood today as the platform received massive demand to list Cardano (ADA). However, the users have to wait before starting their trade as the service is yet to start.
The Cardano community is now more optimistic on Cardano as a result of the listing of Cardano (ADA) shortly before the long awaited Vasil hard fork. Cardano’s creator, Charles Hoskinson, has previously asserted that the Vasil hard fork will probably take place in September.
Recently, the platform had listed Compound (COMP), Shiba Inu (SHIB), Polygon (MATIC), Solana (SOL), and Chainlink (LINK) and in July Robinhood had also supported Avalanche (AVAX) and Stellar (XLM).
Additionally, along with ADA, the financial service company offered assistance for deposit and withdrawal of MATIC tokens on Polygon blockchain. This service will allow 37,000 dApps on Polygon to operate lending, borrowing and swapping.
The Cardano (ADA) is expected to reach around $0.55 with Vasil hard fork around the corner. The 1.35.3 node’s SPOs are responsible for 85% of mainnet block manufacturing, according to data from PoolTool. For the Vasil hard fork, a target of 75% was set. Exchanges and dApps, however, take time to respond.
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Cardano’s (ADA) Blockchain is all set for the Vasil Hard Fork to upgrade in September. This is supposed to radically change the network’s protocol regarding transaction fees, speed, and a decentralized App.
According to a popular crypto analyst, Cardano (ADA) may outperform Bitcoin (BTC) in the short term as traders may think of hedging against Ethereum’s (ETH) upcoming merger event.
The Coin Bureau host told his 2.1 million YouTube subscribers that he views ETH competitors as hedges against the Merge if the update doesn’t go as planned.
“One of the ways I’ve personally been hedging myself against something going wrong with Ethereum’s merge is to hold competing smart contract cryptocurrencies as a part of my portfolio, and this includes Cardano’s ADA,” he mentioned.
The Youtuber continued by saying that Cardano seems all geared up to see gains against the top digital asset by market cap.
“ADA seems to be overdue for an appreciation against BTC on the weekly chart. This is because ADA has historically fallen against ETH for around eight weeks before seeing a multi-week rally. As you can see, ADA has been falling against ETH for about eight weeks and is showing signs of a reversal”
The host went on to predict that Cardano (ADA) could see a 50% gain soon.
“Note that [appreciating against BTC] does not necessarily translate to a higher price for ADA in fiat terms, but ADA’s daily and weekly price action in fiat terms suggest it could see a 50% gain in the coming weeks.
But I must stress that this ultimately depends on whether the crypto market sees a short-term recovery. I should also note that Cardano’s Vasil hard fork will expose the project to the same sorts of issues Ethereum could experience during its upgrade.
This is probably why other Ethereum competitors such as Solana appear to be on the brink of a bigger breakout against both ETH and the USD.”
ADA is floating at $0.4487 at the time of writing, with a trading volume of $424,904,899.
The Cardano (ADA) Upgrade
Currently, Cardano (ADA) is the eighth largest cryptocurrency by market capitalization. Cardano’s Blockchain is all set for the Vasil Hard Fork to upgrade in September.
The Vasil Hard Fork upgrade will supposedly improve the network’s performance and Cardano’s Plutus smart contract programming language, which aims to support the creation of decentralized applications (dApps). About a week ago, Charles Hoskinson from Cardano tweeted about the progress of the Vasil Hard Fork upgrade.
The Cardano Upgrade is expected to bring in a host of changes in terms of transaction fees, scalability of the Decentralised App, and the speed of transactions.
Sharing his views on the same, the Coin Bureau host said that ADA counteracts as a hedge against the Ethereum Merge mainly because Cardano itself is also going to make this Vasil Hard Fork Upgradation in September.
“It would be an admittedly strategic move if Cardano improved its scalability around the time Ethereum transitions to proof-of-stake. This is because it would put Cardano in a perfect position to acquire users and investors if The Merge fails or simply fails to meet the expectations of ETH holders.”