Along the same lines as the impending Ethereum Merge, the Cardano community is placing their bets on the expansion of the network as the Vasil hard fork upgrade draws near.
Included in the Top 10
On the BNB Chain, Cardano has recently made its way back into the top 10 holdings by cryptocurrency whales. Binance Smart Chain was the previous moniker for what is now known as the BNB Chain.
Investors are placing their bets on the future of the cryptocurrency token Vasil as the countdown to the much-anticipated hard fork of the Vasil blockchain continues.
According to a tweet from the cryptocurrency whale tracking platform WhaleStats, Cardano is currently among the top 10 holdings for whales. In addition to that, it is one of the 2,000 whale holdings that have been the largest on the BNB Chain over the course of the last 24 hours. On the other hand, the token is not among the top 10 holdings on the addresses that are the most prominent. The exposure that the 100 addresses have to BNB, stablecoins, and tokenized ETH is significantly increased.
Cardano intends to activate the Cardano Improvement Proposal (CIPs) with the Vasil hard fork upgrade, which will significantly grow the network.
The consensus among professionals in this field is that the Vasil hard fork will mark a watershed moment for Cardano. The upgrade is being given the name “Vasil Dabov Memorial Upgrade” in honor of the late Cardano community member and Bulgarian mathematician, Vasil Dabov.
It is one of the development plans that, along with another kind of hard fork, will usher in the transition to Basho, which is the fourth kind of development strategy.
In addition, there are five CIPs included in the upgrade framework. However, the purpose of the hard fork that Vasil plans to do is to incorporate improvements that are oriented toward strengthening the fundamental aspects of the network.
The Cardano Community Expects a Sharp Price Increase
The Cardano community is looking forward to the Vasil hard fork in the same way that other protocol communities are excited for the major upgrades to their own protocols. The potential improvement caused a sharp increase in the cost of living in the town during the month of September. According to the statistics provided by CoinMarketCap, around 14,000 users of ADA have forecasted that the price of the token will increase to $0.62 this month.