The very popular pseudonymous host of crypto market commentary show Coin Bureau explained his short to medium term price prediction for $ADA.
According to a report by The Daily Hodl, in a video released on Thursday (September 8), “Guy” explained told the over two million subscribers of Coin Bureau’s YouTube channel:
“In recent weeks, Cardano’s ADA has emerged as an ideal hedge against something going wrong with the merge and Cardano’s own upcoming upgrade could supercharge ADA’s price action...
“ADA could rally as high as $1 as a result of Ethereum’s merge and Cardano’s own Vasil hard fork. This would work out to a 2x move in the short to medium term which is a realistic expectation especially since ADA’s price action in fiat and ETH terms supports this target.“
As for $ADA’s long-term price outlook, he said:
“There are additional macro factors coming later this month that could take ADA and other cryptocurrencies even higher or much lower.“
According to data by CryptoCompare, currently (as of 2:45 p.m. UTC on September 9), $ADA is trading around $0.4949, up 4.3% in the past 24-hour period.
Yesterday, IOG, the blockchain technology company behind Cardano’s R&D, made an important announcement regarding its non-custodial Cardano wallet “Daedalus”.
Daedalus is a full-node wallet, which means that “unlike light wallets (e.g.Yoroi, Adalite etc.) Daedalus downloads a full copy of the Cardano blockchain and independently validates every transaction in its history”, thereby giving you “maximum security and completely trustless operation, without centrally hosted 3rd party servers.”
IOG announced that version 5.0.0 of Daedalus is Vasil-compatible and ready for the Cardano mainnnet, bringing us one step closer to full ecosystem readiness for the Vasil upgrade on September 22:
Featured Image via Unsplash
Source: Read Full Article