The hard fork of Cardano is swaying and according to some reports, whales and sharks are all over the place. While sales of the former have come to an end, the latter are making significant purchases.
The pressure on sharks
The Sharks (addresses with between 10,000 and 100,000 ADA) ready to make significant level investments using cardano (ADA). The proof is that since last June 9, they have 79.1 million coupons were added then 37.7 million tokens their reservations. Meanwhile, the whales stopped selling their tokens. As a reminder, whales are humans with between 100,000 and 1 million ADA.
According to analysts, sharks and whales are unlikely to determine the evolution of the digital asset in the coming weeks. They could either increase volatility of the cryptocurrency or, conversely, contribute to its better stability.
Until things become clearer, analysts believe the sharks have positioned themselves for a rise in the price of digital currency. In fact, at the moment, ADA is trading close to 85% below its record $ 3.16. Therefore, sharks have a vested interest in ensuring that the value of the digital asset increases.
New upgrade to Cardano
Apart from shark intervention, another factor may contribute to the increase in cardano value (ADA). it’s about the major technical upgrade which is scheduled for the end of this month. The testnet was launched on July 4th. He succeeded.
The new hard fork, called Vasil, is especially waiting for blockchain users. For good reason, it is supposed to approve create blocks faster and improve ecosystem scalability Cardano DApps (ADA). In addition, the upgrade will introduce interoperability between Cardano sidechains.
As the price of cryptocurrencies generally falls to lower and lower levels, cardano (ADA) begins to rise in value. This is due to two factors: (1) the intervention of sharks and whales trying to rebalance prices and (2) the new update that is highly anticipated by blockchain users.
Source: Cointelegraph
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