Cardano’s ADA is going through the motions once again as the bears continue to dominate the crypto market. The Cryptocurrency managed to slide to its lowest year-to-date levels this week. More downside might be on the way according to Cardano head, Charles Hoskinson.

The Cardano founder and IOHK CEO acknowledged that the crypto market conditions have been tough for the last few months. He also stated that the short-term environment will be rough but held up an optimistic long-term outlook. This is based on strong fundamentals for some of the top crypto networks and companies.

> ICYMI, find out what [@IOHK\_Charles](https://twitter.com/IOHK_Charles?ref_src=twsrc%5Etfw) had to say when he appeared on [@MorningsMaria](https://twitter.com/MorningsMaria?ref_src=twsrc%5Etfw) this morning 👇[https://t.co/TpftrhpIr6](https://t.co/TpftrhpIr6)
> 
> — Input Output Media (@IOHKMedia) [October 11, 2022](https://twitter.com/IOHKMedia/status/1579847454748717056?ref_src=twsrc%5Etfw)

Cardano is among the crypto networks that have demonstrated strong fundamentals and healthy growth in terms of adoption. Unfortunately, market conditions have led to a different narrative for Cardano’s native cryptocurrency ADA.

The latter was down by roughly 35% from its August peak at the press time, courtesy of the extended bearish performance this week.

### **ADA bears launch strong assault** 

ADA managed to achieve a new 2022 low at $0.382 during Tuesday’s (11 October) trading session. This makes it one of the few top cryptocurrencies to achieve a new 2022 low this week. This performance occurred after breaking below its short-term wedge pattern.

ADA’s bearish performance managed to push below the RSI’s oversold zone albeit briefly. The bears have experienced some friction since then, indicating that traders are buying the dip.

However, there are signs that demand has not yet recovered to a sustainable level. This might be due to the expectations of more downside considering the harsh short-term conditions as Hoskinson noted.

* * *

Here’s CryptoCoiney’s price prediction for ADA

* * *

One of the signs of a slow recovery is that ADA volumes are still in the lower 4-week range. Its volume dropped substantially in the last few days but we did observe a slight uptick at the start of the week.

This may have been incoming selling volume and this is likely the case considering that the same metric dropped slightly in the last 24 hours.

Furthermore, ADA volume dropped from above 726 million coins to as low as 448 million coins in the last 24 hours, at press time. This reflects the tapering out of sell pressure. Meanwhile, buying pressure was yet to achieve a notable recovery.

ADA’s active addresses have been on a consistent decline since the last week of September. There was no notable increase in active addresses at the time of writing.

The fact that active addresses are still low is evidence that investors still think that the market may drop further.

Well, ADA hovered right above the oversold zone at press time and could still drop deeper if the selling pressure continues.

The probability of such an outcome is still quite high considering the external economic hammering down on risk-on assets.

Cardano’s ADA is going through the motions once again as the bears continue to dominate the crypto market.

Cardano holders can expect this from ADA in the coming days

[Livestreamed](https://twitter.com/IOHK_Charles/status/1573055811382829056) by over 40,000 people, the Cardano Vasil Hard Fork upgrade was implemented on 22 September at 9:44 p.m. UTC. Needless to say, it was soon declared a success. 

That’s not all, however. Following the hard fork, ADA’s price rallied by over 4% to close the 22 September trading session at $0.458 on the price charts. 

For a while, ADA continued on its upward price trajectory to exchange hands at a high of $0.4789 on 23 September. Soon after, the crypto-market’s bears took over to initiate a price movement down south. At press time, ADA was trading hands at $0.4572, having declined by 5% since the high of 23 September.

Juxtaposing ADA’s performance after the Cardano Vasil Hard Fork upgrade with that of ETH after the Merge, data from [CoinMarketCap](https://coinmarketcap.com/currencies/ethereum/) revealed that the price of the leading alt rose momentarily by 3%. Following the same, the price immediately plummeted. Over the seven days that followed the Merge, the price of ETH dropped by 16% on the charts.

With the bears spotted to be in control of the ADA market, the altcoin appeared poised to follow in the footsteps of ETH. 

#### **Sellers on a rampage**

On the daily chart, following the Vasil Hard Fork, selling pressure for ADA rallied. Positioned in downtrends, key indicators revealed low buy order volumes since the upgrade. At press time, ADA’s Chaikin Money Flow was positioned at -0.07. Headed towards the oversold zone, ADA’s Money Flow Index (MFI) was found at 35. 

Furthermore, a look at the Directional Movement Index (DMI) revealed that ADA sellers had control of the market. The strength (red) at 17.66 was positioned solidly above the buyers’ (green) at 13.58. Also, the Relative Strength Index (RSI) was placed at 46.32 at press time. 

#### **Vasil led to a ‘downgrade’**

According to on-chain data from [Messari](https://messari.io/asset/cardano/chart/act-addr-cnt), active addresses that have traded ADA since the Vasil Hard Fork upgrade have fallen by 14%. At press time, active addresses on the ADA network stood at 55,194. On the day of the upgrade, figures for the same were as high as 64,919.

On a 30-day moving average, ADA’s market-value-to-realized-value (MVRV) posted a negative value, indicating that an average ADA holder has held at a loss over the last month. So far, the Vasil Hard Fork has not led to a reversal in this trend. At press time, ADA’s 30-day MVRV stood at -3%. 

Furthermore, in spite of the upgrade, the general market remained skeptical about the asset’s performance. For instance, the weighted sentiment, at press time, was -0.168.

According to [CoinMarketCap](https://coinmarketcap.com/currencies/cardano/), the price of ADA has declined by over 150% since the year started. With the last six months marked by dormancy on the ADA network, a significant rally in the crypto-asset’s price might be far-fetched.

For a while, ADA continued on its upward price trajectory to exchange hands at a high of $0.4789 on 23 September. Soon after, the crypto...

What does post-Vasil Cardano [ADA] share with post-Merge ETH

A U.S. District Judge recently issued an order with regards to taxation paid on cryptocurrencies. The Judge authorizing Internal Revenue Service (IRS) to seek information related to American taxpayers who don’t report or pay taxes on cryptocurrency transactions.

### **John Doe and crypto transactions**

As per the [press release](https://www.justice.gov/usao-sdny/pr/irs-obtains-court-order-authorizing-summons-records-relating-us-taxpayers-who-failed), U.S. Attorney’s Office, U.S. District Judge Paul G. Gardephe issued an order that would allow the IRS to issue a so-called ‘John Doe summons’. This is to make M.Y. Safra Bank submit all information about American taxpayers. These taxpayers are ones who didn’t report their earnings to the IRS or pay taxes on cryptocurrency transactions.

In particular, the case pertained to the IRS getting the order to gain information about those users who conducted crypto-related transactions. These transactions were conducted on a Los Angeles-based cryptocurrency prime broker SFOX. The profits/losses made weren’t reported and the associated taxes were not paid.

Damian Williams, the United States Attorney for the Southern District of New York commented on the issue at hand. She stated,

> “The government is committed to using all of the tools at its disposal to identify taxpayers who have understated their tax liabilities by not reporting cryptocurrency transactions, and to make sure that everyone pays their fair share.”

Charles P. Rettig, IRS Commissioner, said,

> “The court’s granting of the John Doe summons reinforces our ongoing, significant efforts to ensure that everyone pays their fair share.”

On 15 August, a federal court in the Central District of California had already [issued](https://www.justice.gov/opa/pr/court-authorizes-service-john-doe-summons-seeking-identities-us-taxpayers-who-have-used-2) an order that was similar in nature. The order authorized the IRS to serve a John Doe summons on SFOX that would compel SFOX to provide information. This information was around individuals who conducted crypto-transactions worth at least $20,000 during 2016-2021 through SFOX.

### **A compliance issue at hand**

Additionally, the IRS alleged that taxpayers are required to report their profits/losses while filing their tax returns. however, very few actually report these financials when it comes to cryptocurrencies and other digital assets. This phenomenon exposes significant crypto-related tax compliance deficiencies.

The IRS further stated that people may be use crypto transactions to hide taxable income from the IRS due to the nature of crypto transactions.

A U.S. District Judge recently issued an order with regards to taxation paid on cryptocurrencies. The Judge authorizing Int

Crypto profits going unreported? Here's why you may be on the IRS radar 

On 22 September, at 9:44 p.m. UTC, the Cardano Vasil Hard Fork upgrade went live. Input Output Hong Kong (IOHK) tweeted on Thursday (22 September) that the hard fork of Cardano’s mainnet had been successful.

Input Output Global (IOG), the corporation behind the Cardano blockchain, had delayed this for several months. The fork was delayed due to software issues and the necessity to prioritize quality and security, but it has now occurred.

The Cardano developers claim that the blockchain’s fork will result in “significant performance and capabilities” improvements.

Over 27,000 individuals tuned in after Charles Hoskinson [tweeted](https://twitter.com/IOHK_Charles/status/1573055811382829056) a link to a livestream of the fork, indicating widespread curiosity about the phenomenon.

In fact, the fork was so popular that on [Luna Crush](https://lunarcrush.com/coins/ada/cardano?metric=social_volume) it received close to 52,000 social mentions. One of the many favorable reactions that have followed the fork is [Bill Barhydt tweet](https://twitter.com/billbarhydt/status/1573083464986943490?ref_src=twsrc%5Etfw%7Ctwcamp%5Etweetembed%7Ctwterm%5E1573083464986943490%7Ctwgr%5E028c0af2cc2f29fab7b988ae97025743e4628577%7Ctwcon%5Es1_&ref_url=https%3A%2F%2Fcointelegraph.com%2Fnews%2Ffork-yeah-cardano-vasil-upgrade-goes-live), founder of cryptocurrency trading site Abra, calling the upgrade a “huge success for developers.”

### Post fork price moves

The coin gained more than 4% at the close of the trading session on 22 September, which was quite impressive. It started out at $0.438 and ended up at $0.458.

A bullish trend is evident when looking at the 4-hour timeframe, where the price has been moving in an upward direction and the Relative Strength Index is above the neutral line.

A bullish trend in the 4-hour timeframe is also indicated by the Directional Movement Index, which also displayed the signal and the plus DI line above the 20 line. The signal line and the plus DI lines, however, are extremely close to the 20 line, indicating that the bullish trend is not particularly strong.

### Merge Deja Vu?

However, comparing the signs to the daily timeframe reveals a different picture. Despite being close to the neutral line, the RSI was below it.

The signal line and the plus DI line were also visible on the DMI indicator below the 20 line. Despite the advances seen over the past 24 hours, the RSI and DMI are showing a bearish trend.

However, the signs showed that the bearish trend was weak and that it may soon change to a bullish one. The price movement of ADA was moving up a day after the fork, whereas ETH started to plummet. This is where the fork and merging price movements diverge. For the time being, the price movement of ADA appears to be rising.

Positive indications were also seen in the MVRV (market-value-to-realized-value) retrieved by Santiment, as price growth lessened the loss experienced by ADA holders over the previous 30 days.

The Cardano network’s fork event marks the beginning of the upgrade process. In addition to lowering the barrier to entry for deploying and operating decentralized applications, improvements to Plutus smart contracts will boost their efficiency.

On 22 September, at 9:44 p.m. UTC, the Cardano Vasil Hard Fork upgrade went live. Input Output Hong Kong (IOHK) tweeted...

Cardano: Vasil's success talk and what investors should expect now

Disclaimer: _The findings of the following analysis are the sole opinions of the writer and should not be considered investment advice._

[USDT Dominance](https://in.tradingview.com/symbols/USDTUSD/) is a metric of the share of the crypto market cap held by USDT. In the past two weeks, this metric was in an uptrend. This showed market participants increasingly choosing to hold the USDT stablecoin rather than any crypto asset, and highlighted periods of selling pressure.

Polkadot has also seen strong bearish momentum in recent days as it crashed through another support zone on the price charts.

#### DOT- 12-Hour Chart

On the 12-hour chart, there were many levels that had served as support in the past three months that were eventually flipped to resistance.

The most important zones of support were highlighted by the red box. The $9.5 zone was an area that the bulls absolutely needed to push past. The $10 psychological level was just overhead, and the $10.57 technical level was only slightly further north.

After the sudden plummet in early May, DOT buyers desperately tried to defend the $9.5 region. However, June brought more fear with it and the bulls were soon overwhelmed. Thereafter, the price sank to the $6.6 mark, where it tried to bounce back multiple times.

The most successful of these attempts managed a rally to $9.68. Although it measured 43% in magnitude, it was still a failed rally as it failed to flip the longer-term market structure to bullish.

In recent weeks, the price fell beneath the $6.6 area as well, and at the time of writing saw a bounce from $6 to reach the former support region again.

Hence, higher timeframe traders can look for shorting opportunities. Based on the Fibonacci extension levels (yellow) a drop to $6 and even $4.94 could occur in the coming weeks.

#### Rationale

The indicators showed a bearish picture as well. The RSI fell below neutral 50. Even during the surge to $9.6, the RSI was unable to push past the 60 region and show strong bullish momentum on the H12 timeframe. The OBV also fell below a level of support.

The Directional Movement Index saw the ADX (yellow) at 24.5 and -DI (red) at 19.5. Hence the indicator also stood on the verge of showing a strong downtrend in progress.

#### Conclusion

Traders can zoom in to lower timeframes to look for shorting opportunities behind Polkadot after its 12-hour chart showed a bearish bias.

Why Polkadot intraday traders can look for shorting opportunities

Disclaimer: _The findings of the following analysis are the sole opinions of the writer and should not be considered investment advice._

The [Vasil upgrade](https://twitter.com/InputOutputHK/status/1572623785458630659?s=20&t=0gKZnWSao6SHJ3sI0Q8f8Q) was announced to be a [success](https://twitter.com/InputOutputHK/status/1573067916211527681?s=20&t=0gKZnWSao6SHJ3sI0Q8f8Q) by IOHK. This upgrade “will bring significant performance & capability enhancements”, and IOHK described it as the most ambitious program of work they’ve undertaken.

On the price charts, the past few days have seen the price register sizeable gains. The possibility of a sharp pullback for Bitcoin \[BTC\] threatened the idea of further gains for Cardano \[ADA\]. Cautious traders can wait for a strong trend to establish and trade in its direction. At the time of writing, the $0.49 region loomed as a strong resistance, while $0.44 and $0.46 were support zones.

#### ADA- 4-Hour Chart

The four-hour chart formed lower highs over the past two weeks. It broke above the $0.46 mark a couple of days ago. ADA approached a zone of resistance at $0.49, and this level has been key since early August.

Until a trading session closes above $0.49 on the H4 timeframe, the idea would be to sell any retest of the $0.48-$0.49 mark. A dip lower can then be awaited to enter long positions.

#### Rationale

The one-hour chart and its indicators showed bullish promise in the short-term. While a rejection from $0.48 could occur over the next few hours, the charts also showed the $0.455 region to be a strong support.

The Awesome Oscillator (AO) made higher highs over the previous trading day in response to Cardano’s recovery from $0.43. The Accumulation/Distribution (A/D) line also advanced over the past few days to form higher lows.

The $0.49 resistance zone can be used to take-profits. A dip to the support region (cyan box) can be used as a buying opportunity.

#### Conclusion

The $0.49 region loomed as a strong resistance for Cardano, while $0.44 and $0.46 were support zones that ADA traders can watch out for.

Cardano runs into a resistance zone, can ADA traders anticipate a pullback

In a [Twitter post](https://twitter.com/InputOutputHK/status/1572623801325883393), on 21 September, Input Output Hong Kong(IOHK) confirmed that Cardano is ready for the upgrade. According to the Cardano team, the upgrade is currently active due to the simultaneous achievement of all three “critical mass indications.” 

According to the tweet, 13 cryptocurrency exchanges, or more than 87% of Cardano’s (ADA) liquidity, have certified their readiness for the hard fork over the past 48 hours.

Over 98% of mainnet blocks are being created by updated Vasil nodes, according to the Cardano Foundation. Also, the top decentralized apps (DApps) on the blockchain have certified their readiness, meeting all three criteria required for the upgrade.

### Implications

When it goes online, the upgrade would be the blockchain’s most important development since the Alonzo hard fork in September of last year, which enabled smart contracts.

The goal of this improvement is to improve smart contracts while lowering expenses and boosting network capacity. Faster block production is one of the most significant improvements brought about by the fork, according to IOHK.

In addition to what the upgrade offers, the network developed a large number of Dapps that span Decentralized Autonomous Organisations (DAOs) and Decentralized Finance (DeFi).

All of this impacts the ecosystem since more users will be drawn to it. As a result of its increased utility, this may have a favorable impact on the movement of ADA’s price. 

### How ADA’s price is looking

ADA closed trade on 21 Sept. (yesterday) with a loss of less than 1%. It opened at $0.442 reaching as high as $0.464 in the same trading period before closing at $0.04389. As of the time of writing, the trade opened at $0.4388 and was already boasting over a 2% gain compared to yesterday.

On the daily chart, the price movement in past weeks has largely been sideways, with the price struggling to break the $0.5 resistance. The support level at $0.42 is proving strong enough to hold a further downward move in price.

The Directional Movement Indicator(DMI) showed a weakening bearish trend and a weak bullish push. The signal line is below 20, the same as the plus DI line.

However, the signal and plus DI line can be seen gradually moving upward toward the 20 line and the minus DI line moving down below the 20 line. The Relative Strength Index (RSI) also exhibited a similar pattern. 

The On Balance Volume (OBV)  indicator showed that there is a decent level of activity with ADA. This is supported by the volume indicator that shows no major spike but shows decent volumes of trade.

According to data from [Coinmarketcap](https://coinmarketcap.com/currencies/cardano/), the 24 hours trade volume for ADA has increased by over 30%. Also, the market cap has seen an uptick of over 1%.

The indicators and price movement is showing that all have been relatively normal with ADA, with no volatility. For holders that are a bit worried that the upgrade might bring a “sell the news buy the rumor” trade activities, it has not appeared to be so far.

In a Twitter post, Input Output Hong Kong(IOHK) confirmed that Cardano is ready for the upgrade, taking place later today.

What Cardano [ADA] holders can expect after Vasil upgrade

With the Cardano \[ADA\] Vasil hard fork billed for 22 September, quite a few interesting things have been happening. Few weeks after its launch, Aada, a lending protocol on the Cardano mainnet, increased in a way no one could have predicted.

According to DeFiLlama, Aada had [contributed](https://defillama.com/protocol/aada) a whopping $219 increase to ADA’s Total Value Locked (TVL) in the last seven days. Since its launch, this increase was a cumulative 58,186,603%, with its own TVL addition at $360,801. 

### **All in one**

Interestingly, the decentralized lending and borrowing protocols was not the only one involved in the hike. ADAXPro, the non-custodial decentralized exchange operating within the Cardano ecosystem too played its part. 

DeFiLlama, a TVL aggregator, revealed that ADAX had [risen](https://defillama.com/protocol/adax-pro) 2564% in the last thirty-days. All these hikes had led Cardano’s TVL [worth](https://defillama.com/chain/Cardano) to hit $79.48 million. On the other hand, the non-performance of a number of others was not sufficient to raise ADA’s TVL above $100 million as it was in August.

### **Ready, set, hold on!**

In other developments, Input Output Global, the firm behind the Vasil upgrade [communicated](https://iohk.zendesk.com/hc/en-us/articles/7981157534105-Ecosystem-readiness-for-Vasil-upgrade) a message around the ecosystem readiness for it. In an official release on 20 September, Input Output noted that over 98% of Cardano’s mainnet block was in development stage. The company also stated that Decentralized Applications (DApps) on the ADA chain have been tested and confirmed ready.

On-chain metrics showed that Cardano seemed prepared to activate the Vasil hard fork. Based on [Santiment](https://app.santiment.net/charts/1E7VJXjC__sCl) data, development activity increased massively between 19 and 20 September.  

Despite falling slightly at press time, it seemed that interest in ADA was on a great increase. The social volume which stood at 9,910 on 20 September had soared to the high of 17,200.

Similarly, ADA’s 24-hour active addresses had maintained some stable levels. At press time, it was 57,700—around the same point it was between 19 September and 20 September. However, ADA has been circulating less within the same period as Santiment [revealed](https://app.santiment.net/charts/1E7VJXjC__sCl) that there was a drop in circulation from 341.26 million to 307.42 million.

Additionally, Cardano got some extra support from exchanges. In Input Output Global’s atelier communique, only 55% of liquidity across exchanges were ready for the upgrade. Now, the United States branch of the world’s largest exchange, Binance US, announced that it was also supporting the upgrade.

> [#BinanceUS](https://twitter.com/hashtag/BinanceUS?src=hash&ref_src=twsrc%5Etfw) will support the upcoming [#Cardano](https://twitter.com/hashtag/Cardano?src=hash&ref_src=twsrc%5Etfw) [$ADA](https://twitter.com/search?q=%24ADA&src=ctag&ref_src=twsrc%5Etfw) “Vasil” upgrade and hard fork, which is estimated to occur on September 22, 2022 at approximately 2:45 PDT / 5:45 EDT.
> 
> Learn more: [https://t.co/FHb4yGfK4X](https://t.co/FHb4yGfK4X) [pic.twitter.com/ln3k3Apmqo](https://t.co/ln3k3Apmqo)
> 
> — Binance.US 🇺🇸 (@BinanceUS) [September 20, 2022](https://twitter.com/BinanceUS/status/1572353919078268931?ref_src=twsrc%5Etfw)

Because of this addition, the liquidity readiness increased to 73%. Per its price, ADA recorded a 0.23% decline from the previous day. [CoinMarketCap](https://coinmarketcap.com/currencies/cardano/) showed that ADA’s price was $0.4466 at press while there was a 32.67% increase in volume.

With the Cardano [ADA] Vasil hard fork billed for tomorrow (22 September), quite a few interesting things have been happening.

Cardano: Surges, supports, and everything untold amid upcoming Vasil upgrade

The bloodbath is well and truly at play. Top crypto assets are freefalling today in the market with FUD playing a crucial role. Amidst the heat, Cardano is set to go ahead with the Vasil Fork on 22 September. But how is Cardano looking to tackle these repugnant market conditions? Simply, by going the Cardano way!

### Keep the devs rolling

Cardano Foundation and the Input Output team have released an [update](https://twitter.com/InputOutputHK/status/1571558445970497539?s=20&t=MoRp_OhaNa5UFyiJMt9qCA) for the latest developments on the Cardano network. The update comes just days before the mainnet Vasil Fork implementation. These new enhancements will improve functionality, performance, and scalability on Cardano for network users.

With Vasil coming up soon, Cardano’s pre-production ecosystem will hard fork on 19 September. The [new node](https://www.essentialcardano.io/development-update/weekly-development-update-as-of-2022-09-16) v.1.35.3 currently mints over 95% of SPO blocks, with the leading DApp projects also on track for the upgrade.

> Together, these new enhancements will bring increased functionality, performance & scalability to [#Cardano](https://twitter.com/hashtag/Cardano?src=hash&ref_src=twsrc%5Etfw). For a deeper dive, check out the blog post from [@timbharrison](https://twitter.com/timbharrison?ref_src=twsrc%5Etfw) [https://t.co/MPpsdf9lYq](https://t.co/MPpsdf9lYq)
> 
> 3/3
> 
> — Input Output (@InputOutputHK) [September 18, 2022](https://twitter.com/InputOutputHK/status/1571558450340970500?ref_src=twsrc%5Etfw)

### A season of Forks

Both Ethereum and Cardano have been the talk of the town in light of their latest upgrades. The former launched the Merge in the last week while Cardano is set to launch its own fork this week. Understandably, this has led to a conversation about the two developments.

According to a Twitter-based analyst’s [latest](https://just-the-metrics-newsletter.beehiiv.com/p/special-issue-ethereum-pos-vs-cardano-staking-decentralization-compared) newsletter, Cardano allows anyone to run a validator node without requiring a minimum amount of ADA and the minimum staking requirement is 10 ADA (4.78 USD).

Meanwhile, Ethereum requires a minimum of 32 ETH (45.904 USD) to start running a validator node which is a large sum to get started with.

Moreover, Ethereum is far more centralized than Cardano right now with three entities controlling 51% of the network. However, Cardano proves its decentralization credentials as it requires 24 such entities to gain control of 51% of the network.

### What does the data say?

The latest crypto onslaught has led to red flashes across major assets in the market today. According to CoinMarketCap, at press time, ADA was trading at $0.43 after a 9.75% fall in the past 24 hours.

This dramatic free will accumulated ADA’s weekly losses to 14% at press time. The fall in prices was also evident in several on-chain metrics which continue to show gaps in ADA trading.

Daily transactions in loss totaled 126.7 million on today’s (19 September) chart. At the same time, daily transactions in the loss were hovering below 23 million which further highlighted the carnage in the market.

Invariably, the MVRV of ADA was also deep in the burrows after the latest fall in prices. At press time, the MVRV ratio was ranging at -6.5%. Thus, it means that traders were holding more losses than profits.

The bloodbath is well and truly at play. Top crypto assets are gfreefalling today in the market with FUD playing a crucial role.

ADA holders needn't sell themselves short because Cardano released...

Cardano‘s community is easily the most bullish group in the crypto-market right now. According to many, they have good reason to be so as well. The Cardano network is finally set to go ahead with the Vasil hard fork on 22 September, which is still less than a week away. The preparations for the hard fork have been in full swing for months now. Among these preparations is the launch of Transaction Chaining on Cardano.

This is the latest solution released to solve many network-related issues on Cardano. [Transaction Chaining](https://optim-labs.medium.com/transaction-chaining-on-cardano-cdc38c1c73dc) seems to be an effective method to improve decentralisation on Cardano by aggressively ordering transactions before they make it on-chain. The new update also attempts to ensure long-term viability and facilitates the ecosystem’s growth.

It was in this regard that a senior executive at Input Output, Tim Harrison, [appreciated](https://twitter.com/timbharrison/status/1571221229507338242?s=20&t=cnnlvtxaAELc3cfCfw1jtQ) the “highly scalable” eUTXO models on Cardano. In his words, “this is a superb, definitive piece from work from the IOG content team on truly defining technology.”

Nevertheless, Harrison remains extremely optimistic about Vasil’s launch, with the exec further opining about it in an IOHK [blog](https://iohk.io/en/blog/posts/2022/09/16/vasil-what-to-expect/).

#### Vasil-ready?

With the Vasil Fork set for launch on 22 September, Cardano is beginning to overtake Ethereum in social activity. Ergo, maybe it’s fair to say that Ethereum has lost its way somewhat since the Merge release which has also led to a significant drop in social traction as well.

In fact, Cardano is picking up where Ethereum left off. Cardano’s ADA, for instance, is currently leading the top trending searches on [LunarCrush](https://twitter.com/LunarCrush/status/1570948083479089152?s=20&t=RZY28iSE0nku5NVxTr0TmQ).

Interestingly, this increase in social activity is also reflected in Cardano’s Social Dominance chart. According to blockchain analytics platform Santiment, Cardano has been flashing a massive uptick in social activity over the last few days. This, a direct response to the Vasil hype which has become a feature of major crypto-releases.

#### Hang on!!!

There is more news to celebrate on Cardano right now as it reached two major milestones recently. According to a recent announcement, total transactions on the Cardano network hit 50 million.

Transaction Chaining seems to be an effective method to improve decentralisation on Cardano by aggressively ordering transactions before...

Cardano [ADA] looks 'ready' for Vasil after latest dev updates

Disclaimer: _The datasets shared in the following article have been compiled from a set of online resources and do not reflect CryptoCoiney’s own research on the subject_

‘Ethereum killer’ or not, Cardano \[ADA\] has always had a lot of fans. Needless to say, this perception has fueled a lot of projections across the board, both favorable and otherwise.

What about ADA then? Well, the jury is still split on it, with analysts’ projections pretty diverse. In fact, one can argue we’ll have a clearer idea once Vasil is past us. Ergo, it’s a natural question to ask – Should you, as an investor, buy any more ADA in the market. Well, this article will try and answer that very question.

One of the cryptos that has been able to secure a spot in the top-10 by market cap is Cardano (ADA). Cardano is not just well-known, but is frequently cited as one with the most potential too. 

Cardano’s ADA reached its peak in the bull market in 2021. ADA’s price rose to a value of above $3 in September 2021. The price was forced to take losses once more as a result. Before the significant bear market began, these losses occurred between September and November of 2021.

The past few months have seen enormous losses for Cardano. Starting in September 2021, ADA lost a lot of its value. Prior to the same, the price had greatly increased as a result of the creation of smart contracts on the Cardano blockchain at the time. As a result, ADA’s price was able to rise significantly to $3.

On the one hand, the losses up until November were brought on by a rebound impact following earlier significant gains. However, there has been buzz surrounding contemporary blockchains like Solana and Avalanche. These pose a direct threat to Cardano and can be distinguished by extremely fast transaction speeds. Owing to the same, one can argue that Cardano needs to look over its shoulder. 

Despite losses in recent months, Cardano’s price prediction should be fairly optimistic. Cardano should eventually become one of the most technologically advanced blockchains on the market thanks to its long-term, scientifically directed development. In the near future, Cardano might outperform Ethereum and other blockchains in every respect. What is the outlook for Cardano going forward?

Given everything, purchasing ADA must ultimately be prudent, right? The majority of analysts have optimistic forecasts for ADA. Furthermore, the majority of long-term ADA price forecasts are confident.

As the network called the “Ethereum killer” continues to record significant blockchain development, the price of Cardano (ADA) has largely fluctuated in recent weeks.

The Cardano community specifically anticipates a potential increase in the token’s value, particularly with the impending Vasil hard fork. This line predicts that ADA will trade at $2.26 by August 31, 2022, according to NeuralProphet’s PyTorch-based price prediction algorithm that uses an open-source machine learning framework.

Cardano’s Charles Hoskinson was recently in the news too, with the exec taking a shot at his favorite target – BTC maximalists.

> Bitcoin maxis are beyond stupid. I can't even force the vasil hardfork and everyone wants it [https://t.co/bR4FoAYikq](https://t.co/bR4FoAYikq)
> 
> — Charles Hoskinson (@IOHK\_Charles) [September 8, 2022](https://twitter.com/IOHK_Charles/status/1568017509378572289?ref_src=twsrc%5Etfw)

Bitcoin \[BTC\] maximalist Bryan ([@btc\_bryan\_21](https://twitter.com/btc_bryan_21/status/1568016415248056321)) took to Twitter to claim that Hoskinson could alter the number of ADA tokens as a result of purported centralization. Cardano’s maximum supply is set at 45 million ADA tokens.

However, the Twitter user claimed that since blockchain’s monetary policy is relatively changeable, nothing would stop the crypto-tycoon from modifying it.

Hoskinson outright denied the credibility of these allegations. He further called the Twitter user “stupid”. This is not the first time the Cardano founder has commented on BTC maximalists. In [July 2022](https://www.youtube.com/watch?v=_uztiQHqZJE), he stated that BTC maximalists are “toxic” and “useless” people to engage with.

The aforementioned statement was made in response to the MicroStrategy CEO’s claims that ADA is an unregistered security.

Since all ADA tokens now exist in the possession of their rightful owners, Cardano has consistently resisted the idea of destroying them. Hoskinson claims that this would be equivalent to stealing from the neighbourhood.

Eight of the biggest cryptocurrency exchanges have modified their infrastructure, according to IOHK. Furthermore, the Cardano network’s development team is now prepared for the much-anticipated Vasil hard fork.

Furthermore, three of the top twelve exchanges for Cardano liquidity are ready for the upgrade. Several exchanges, including Gate.io, MEXC, Bitrue, OKx, Whitebit, BtcTurk, AscendEX, and Revuto, have improved their platforms.

Given everything, purchasing ADA must ultimately be prudent, right? The majority of analysts have optimistic forecasts for ADA. Furthermore, the majority of long-term ADA price forecasts are confident.

#### **Why do these projections matter?**

Cardano saw a substantial decline in 2022, falling from a high of $3.10 in September 2021 to a little over 0.47 cents in July 2022. However, only 75% of the total number of coins are now in use, thus there is still room for investors to amass coins.

Also, it seems like the conflict between Ethereum and Cardano may come down to an upgrade war. With the Goguen “Mary” update behind the latter and Vasil on the horizon, it will be interesting to see what the impact of the same will be on the network and on ADA.

Over the past year, Cardano has established itself as one of the most active crypto-assets. As expected, it appears that cryptocurrency investors are optimistic as there has been an increase in the number of Cardano wallets. According to AdaStar, 121 new wallets have been created on average every hour since ADA’s record-breaking price run – A 98% hike.

Also, addresses holding between 10,000 and 10,000,000 ADAs have built on their accumulation tendencies, [according to Santiment.](https://app.santiment.net/charts/sZjBCGjN__sCl)

Since 27 July, these addresses have increased their portfolios by a total of 0.46% of ADA’s current supply. In just over 10 days, this amounts to an accumulation of ADA worth approximately $138 million.

3,105 Plutus-based smart contracts were implemented on the network, [according to Cardano Blockchain Insights](https://datastudio.google.com/u/0/reporting/3136c55b-635e-4f46-8e4b-b8ab54f2d460/page/p_a6behjl6oc). Indeed, there has been an increase. In fact, in July, this number was 2,900. This demonstrates Cardano’s capability of enabling customers to create blockchain-related applications.

The bullish forecasts are in line with the generally bullish outlook on ADA that comes from network initiatives intended to make the asset more beneficial. The much-awaited Vasil hard fork is finally prepared for launch, according to Cardano’s Charles Hoskinson.

Supporters of the token are obsessed with price movement as it starts to recover, despite slight gains, ADA is yet to meaningfully react to the upgrade. The coin has, however, profited from the recent two-month surge in the wider cryptocurrency market.

In this article, we’ll quickly review the current activity of the cryptocurrency with a focus on market cap and volume. In conclusion, predictions from the most well-known analysts and platforms will be summarized together.

#### **ADA’s price, volume, and everything in between**

At press time, ADA was valued at $0.48. Its market capitalization was $16.9 billion and its 24-hour trading volume was $531 million. A depreciation of just under 6% was seen over the last 7 days too.

The overall number of ADA wallets was estimated to be 3,561,372 on 9 September, [according to Cardano Blockchain Insights.](https://datastudio.google.com/u/0/reporting/3136c55b-635e-4f46-8e4b-b8ab54f2d460/page/k5r9B) Cardano was also able to add over 500,000 new holdings in the last six months. Even the upgrade’s delay was unable to convince ADA fans to change their minds.

On the DeFi front, Cardano’s TVL on DeFiLama saw a slight 4% decrease. The total amount locked was $86.26 million, [at the time of writing.](https://defillama.com/chain/Cardano?currency=USD)

The growth rate of FluidTokens, a DeFi lending platform that enables users to lend or borrow using CNFTs as collateral, was 54,000% over the previous month. However, the network did experience a considerable decline from its all-time high TVL of $326 million on 24 March.

By the end of the year, according to PLAYN creator [Matt Lobel](https://www.finder.com/cardano-ada-price-prediction), ADA is likely to hike to $1.50. The management team’s quality-first philosophy, he claimed, will enable ADA “continue to develop and not encounter some of the quality challenges that other projects have,” although the rate at which it is expanding may be discouraging.

Martin Froehler, CEO of Morpher, [concurs](https://www.finder.com/cardano-ada-price-prediction) with this statement. He predicts that the value of ADA will reach $1 by the end of 2022 and states simply that “slow and steady wins the race.” The CEO and Xo-founder of Router Protocol, Ramani Ramachandran, is not as convinced about the future applications of ADA and [believes](https://www.finder.com/cardano-ada-price-prediction) the coin will only be worth $0.20 in 2022.

By the end of August, the CoinMarketCap community anticipates that ADA will trade at $0.58. About 17,877 members of the community agree with the projection, which assumes a price increase of about 8.71% from the crypto’s current value.

The estimate for September has been set by the community at $0.5891, up roughly 9% from its press time price. A curious prediction made by the algorithm is that by the end of September, ADA will trade at $1.77. Overall, both forecasting tools point to an increase in the price of a digital asset right now.

And, if these predictions seem too much to you, then you must know that there are reasons why the sentiments are so bullish. According to the same [Finder research](https://www.finder.com/cardano-ada-price-prediction) stated earlier, one in five (20%) panelists believes that the Cardano hard fork, which aims to further decentralize the network and boost throughput, will have a favorable long-term effect on the altcoin’s price. Another 17% believe it will at least have a favorable effect shortly.

The real value of the blockchain will increase as it becomes faster and more effective, and ADA’s value should increase along with it. Cardano may once again reach $1, according to the Motley Fool’s analysts, making it a solid investment at the moment.

The most cautious Cardano price forecasts anticipate roughly linear growth for ADA over the next five years. According to the Cardano projection, ADA will conclude 2022 at $2.74.

There’s good reason for the optimism behind Vasil too. In fact, according to developers,

> “Vasil is the most significant Cardano update to date, bringing increased network capacity and lower cost transactions.”

Let’s now look at what well-known platforms and analysts have to say about where they believe ADA will be in 2025 and 2030.

#### **Cardano ADA Price Prediction 2025**

Now, even though most predictions are positive, some reasons force us to believe otherwise. Even though the much-awaited update of the blockchain is expected to take the price high, what if the update does not reach its promises and becomes a failure? 

According to Changelly, the minimum ADA price is predicted to fall to $1.87 in 2025, while its maximum price will be $2.19. The cost of trading will typically be $1.93.

Cardano is [forecasted](https://www.finder.com/uk/cardano-ada-price-prediction) by Finder’s team of fintech experts to soar to $2.93 by 2025.

A cryptocurrency’s price typically reacts favourably to upgrades, as it did when Ethereum’s EIP-1559 was pushed and the asset’s value once again soared beyond the $3,000-mark. However, in the instance of Cardano, the asset’s value fell dramatically, by nearly 50% within one month of the launch of Alonzo.

However, even in a down market, Cardano strives to consistently improve its products. Investors should feel confident as a result because the project’s utility keeps growing. This distinguishes Cardano from several other “meme currencies.”

This seems to support a bullish Cardano prediction, which is why many analysts believe that ADA will be valuable in the long run. Building the utility now might serve as a launchpad for when the cryptocurrency markets heat up again, which would cause the price of ADA to soar dramatically that it would even top its all-time high.

And, you have reasons to believe that. Until 2026, the Cardano blockchain project hopes to sign up as many as 50 banks and 10 Fortune 500 businesses, according to Frederik Gregaard, CEO of the Cardano Foundation.

Gregaard also discussed how he hopes to make it possible for banking institutions to use Cardano’s utility token in a [formal presentation.](https://www.youtube.com/watch?v=K4i-rTNyBWE)

#### **Cardano ADA Price Prediction 2030**

Experts frequently advise educating the public about cryptocurrencies before broad adoption takes place. And, the recent frenzy has probably done just that for many. As a result, many believe that ADA has a strong possibility of continuing to rise through 2030 and beyond.

It’s not “out of reach” for Cardano to surpass the “double-digit threshold,” according to Josh Enomoto, a former senior business analyst for Sony Electronics who has experience working with Fortune 500 businesses, [who wrote about it in Nasdaq.com.](https://www.nasdaq.com/articles/why-you-dont-want-cardano-to-hit-%2410-2021-05-10)

He first presented that argument in May 2021 and even forecast that the ADA price would reach $22 by the end of 2022 and perhaps $100 by the end of 2027. Both up and negative trends in altcoin price are fairly powerful.

Finder’s panel has considered Cardano’s future, placing it in a good position. It believes ADA will hit $6.53 by 2030.

Furthermore, according to cryptocurrency exchange [Kraken,](https://kraken.docsend.com/view/fwd4q3ivx98bchx7) the debut of the Minswap decentralized exchange (DEX) and growth in the SundaeSwap and MuesliSwap DEXs allowed Cardano’s total locked value (TVL) in decentralized finance (DeFi) apps to increase by more than 130% in March this year.

Eight years, though, are not without their ups and downs and rough patches. Inflation, recession, conflict, and the fear of an economic collapse are just a few of the hiccups.

Many in the cryptocurrency community are still optimistic about the chances of Cardano’s acceptance in the future.

In January, Ethereum’s Vitalik Buterin [asked](https://twitter.com/VitalikButerin/status/1481737970562789376?ref_src=twsrc%5Etfw%7Ctwcamp%5Etweetembed%7Ctwterm%5E1481737970562789376%7Ctwgr%5Eb39bad212850a3ae64050b0cb2d257549fae424f%7Ctwcon%5Es1_&ref_url=https%3A%2F%2Fcapital.com%2Fcardano-price-prediction-2030-2050-the-future-of-ada-coin) the community on Twitter which crypto, outside of ETH, they would prefer to see dominate transactions in 2035. ADA received 42% of the more than 600,000 votes, while Bitcoin received 38.4%.

> Poll for Ethereum community. You wake up in 2035, and 80% of all transactions + savings in the world are in one currency that is not ETH. Which would you prefer it to be?
> 
> — vitalik.eth (@VitalikButerin) [January 13, 2022](https://twitter.com/VitalikButerin/status/1481737970562789376?ref_src=twsrc%5Etfw)

Of course, investing in cryptocurrencies is risky because of their tremendous volatility. However, investing in Cardano may allow you to “set it and forget it” and watch your money increase, at least through 2030.

#### **Conclusion**

After a significant decline in 2022, analysts predict that ADA might eventually provide value and a strong return on investment. The volatility of cryptocurrencies, though, makes everything possible. Never put more money at risk than you can afford.

Remember, that within three months of its release, ADA surged to over $1 during the 2017 crypto bull run, which saw retail investor FOMO (fear of missing out) drive the price of Bitcoin to $20,000. The entire advance was subsequently totally retraced down to $0.02 during the 2018 bear market.

Fundamental analysis (FA), such as a growth in network addresses and TVL, which indicate growing mainstream adoption of a crypto-project, should be of greater concern to long-term investors.

2021 was a successful year for Cardano. It had a remarkable showing, with bulls hitting over 691% in a year. It outperformed Bitcoin...

Cardano (ADA) Price Prediction 2025-2030: Is $6.5 too high a target for 2030?

Now that the hype around the Merge has settled down, it’s time for Cardano \[ADA\] to take over. The Vasil hardfork is due this month and the entire crypto community is keeping a close watch on the network. 

Most recently, Input Output Global (IOG) tweeted all the new and interesting developments that happened in the last week regarding the Vasil hardfork. 

> Every Friday, we publish our weekly [#Cardano](https://twitter.com/hashtag/Cardano?src=hash&ref_src=twsrc%5Etfw) development update. So for the lowdown on what IOG's dev team has been working on last week, head on over and take a look👇[https://t.co/otiCZmzx6a](https://t.co/otiCZmzx6a)
> 
> — Input Output (@InputOutputHK) [September 16, 2022](https://twitter.com/InputOutputHK/status/1570863344130707458?ref_src=twsrc%5Etfw)

### **Here is what’s new**

According to the latest announcement, total transactions on the Cardano network reached 50 million. A similar increase also happened in the number of native tokens as it exceeded 6 million.

According to IOG, the Marlowe team tested Marlowe’s Plutus validators in a mock testing environment. They also implemented a coin-selection and transaction-balancing algorithm for Marlowe.

Moreover, the Daedalus team also tested the new Trezor firmware. The most notable change is that the PreProduction environment will hardfork on 19 September, prior to the mainnet hard fork.

While all these developments around in the Cardano network, its token’s price stayed put. Furthermore, the token registered a negative 8% seven-day growth. However, a sigh of relief is that ADA’s price grew nearly 2% in the last 24 hours. At the time of writing, ADA was trading at $0.4765 with a market capitalization of $16,289,324,035.

### **All good for ADA now?** 

With less than a week for the Vasil upgrade, several metrics were in favor of ADA, suggesting better days ahead. For instance, the development activity of ADA has been on a constant rise over the last month. This corresponded to all the recent updates.

ADA’s 30 day Market Value Realized Value (MVRV) Ratio also registered an uptick, which might result in a further hike in its price. Moreover, ADA’s social dominance also increased during the last week. This indicated increased interest from investors and crypto enthusiasts in the token. 

Nonetheless, according to cryptoquant’s data, ADA’s Relative Strength Index (RSI) and Stochastic were at neutral positions.

Now that the hype around the Merge has settled down, it's time for Cardano [ADA] to take over. The Vasil hardfork is due th

Cardano holders may have reasons to celebrate even before Vasil rolls out

Cardano is a blockchain-based smart contract platform that aims to compete against similar platforms such as Ethereum, Tezos, and EOS, among others, through a more modular, layered protocol that runs on a proof-of-stake consensus algorithm called Ouroboros.

Identifying itself as a third-generation blockchain and cryptocurrency system following Bitcoin and Ethereum, Cardano’s development is quite different from its competitors in that it is heavily informed by theoretical, peer-reviewed research before implementation in software.

Features Cardano USD price, real-time charts, news and videos. Learn about the ADA cryptocurrency, crypto trading and more.

Cardano News