Input Output Global (IOG), the company behind the Cardano blockchain, had delayed this for months. The fork was delayed due to software issues and the need to prioritize quality and security, but it’s happening now.
Cardano developers claim the blockchain fork will bring “significant performance and functionality” improvements.
In fact, the fork was so popular that Luna Crash We received nearly 52,000 social mentions.One of the many positive reactions that followed the fork was Bill Verheit tweetthe founder of cryptocurrency trading site Abra, has called the upgrade a “huge success for developers.”
Price movement after fork
The coin rose more than 4% at the close of the trading session on Sept. 22, which was quite impressive. It started at $0.438 and ended at $0.458.
The bullish trend is evident when looking at the four timeframes where the price is moving in an upward direction and the Relative Strength Index is above the neutral line.
A four-timeframe bullish trend is also indicated by the Directional Movement Index, which also displays a signal above the 20 line and a positive DI line. However, the signal and positive DI lines are very 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 has broken below it.
The signal line and positive DI line were also displayed on the DMI indicator below the 20 line. The RSI and DMI are showing a bearish trend despite their gains over the last 24 hours.
However, the signs point to the bear trend being weak and likely to turn into a bull trend soon. ADA price volatility rose the day after the fork, while ETH began to plummet. is where the price fluctuations of forks and merges diverge. For the time being, ADA price movements appear to be on an upward trend.
The MVRV (Market Value to Realized Value) acquired by Santiment also showed positive signs. This is because the price increase has mitigated the losses experienced by his ADA holders over the last 30 days.
The Cardano network fork event marks the start of the upgrade process. Improvements to Plutus smart contracts not only lower the barriers to entry for deploying and operating decentralized applications, but also increase their efficiency.
Now, on September 27th, after one epoch that currently lasts about five days, developers will have access to the mainnet and new features provided by the Plutus script upgrade.
https://ambcrypto.com/cardano-vasils-success-talk-and-what-investors-should-expect-now Cardano: Vasil’s success story and what investors should expect now