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Blockchain

Cardano Is Really Overvalued Ahead Of The Vasil Hard Fork?

August 11, 2022 - Around 2 mins mins to read
Vasil hard fork could happen in a few weeks but data suggests Cardano may be overvalued.
Cardano Is Really Overvalued Ahead Of The Vasil Hard Fork?
Cardano Is Really Overvalued Ahead Of The Vasil Hard Fork? 3

With Vasil’s upcoming hard fork, Cardano is expected to have an overhaul of the network. The focus will be on throughput enhancement and smart contract improvement.

In a recent report, on-chain analytics platform Messari found that Cardano is “valuing higher” when compared to other burgeoning ecosystems led by Vasil. It also said the market seems to be expecting significant improvement from the much-anticipated upgrade.

Cardano has been trailing competitors like Solana, Algorand, Tezos, and NEO in terms of daily transactions. On the other hand, Cardano leads in terms of active users’ majority, transaction multiples as well as TVL multiples. These metrics basically gauge the value of an asset. As discovered by Messari, Cardano was overvalued prior to the hard fork.

Cardano Is Really Overvalued Ahead Of The Vasil Hard Fork?
Cardano Is Really Overvalued Ahead Of The Vasil Hard Fork? 4

However, PoS blockchain advocates believe otherwise. One of them was a Twitter user named “ADA Whale”, who called Messari’s report “flawed”.

The Vasil upgrade has been delayed several times. This has drawn outrage across the industry, but the IOG developers still insist that they are not in a hurry.

Kevin Hammon, Technical Director of Input Output Global, previously revealed that the team is doing thorough repairs and testing to make sure no serious issues have been missed. The company’s CEO, Charles Hoskinson, further confirmed that he does not anticipate any further delays. Despite the lack of a specific timeline, Vasil is expected to launch the mainnet in the next few weeks.

Despite the delay, some ADA holders are optimistic. The token’s average-sized investors added nearly 80 million ADA in a month, according to Santiment’s latest data.

DISCLAIMER: The Information on this website is provided as general market commentary and does not constitute investment advice. We encourage you to do your own research before investing.

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Harold

CoinCu News

ADA

Algorand

Cardano

Messari

PoS

Solana

Tezos

Vasil Hard Fork

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Author

Harold

With a passion for untangling the complexities of the financial world, I've spent over four years in financial journalism, covering everything from traditional equities to the cutting edge of venture capital. "The financial markets are a fascinating puzzle," I often say, "and I love helping people make sense of them." That's what drives me to bring clear and insightful financial journalism to the readers of Coincu.
Blockchain

Cardano Is Really Overvalued Ahead Of The Vasil Hard Fork?

Vasil hard fork could happen in a few weeks but data suggests Cardano may be overvalued.
Cardano Is Really Overvalued Ahead Of The Vasil Hard Fork?
Cardano Is Really Overvalued Ahead Of The Vasil Hard Fork? 7

With Vasil’s upcoming hard fork, Cardano is expected to have an overhaul of the network. The focus will be on throughput enhancement and smart contract improvement.

In a recent report, on-chain analytics platform Messari found that Cardano is “valuing higher” when compared to other burgeoning ecosystems led by Vasil. It also said the market seems to be expecting significant improvement from the much-anticipated upgrade.

Cardano has been trailing competitors like Solana, Algorand, Tezos, and NEO in terms of daily transactions. On the other hand, Cardano leads in terms of active users’ majority, transaction multiples as well as TVL multiples. These metrics basically gauge the value of an asset. As discovered by Messari, Cardano was overvalued prior to the hard fork.

Cardano Is Really Overvalued Ahead Of The Vasil Hard Fork?
Cardano Is Really Overvalued Ahead Of The Vasil Hard Fork? 8

However, PoS blockchain advocates believe otherwise. One of them was a Twitter user named “ADA Whale”, who called Messari’s report “flawed”.

The Vasil upgrade has been delayed several times. This has drawn outrage across the industry, but the IOG developers still insist that they are not in a hurry.

Kevin Hammon, Technical Director of Input Output Global, previously revealed that the team is doing thorough repairs and testing to make sure no serious issues have been missed. The company’s CEO, Charles Hoskinson, further confirmed that he does not anticipate any further delays. Despite the lack of a specific timeline, Vasil is expected to launch the mainnet in the next few weeks.

Despite the delay, some ADA holders are optimistic. The token’s average-sized investors added nearly 80 million ADA in a month, according to Santiment’s latest data.

DISCLAIMER: The Information on this website is provided as general market commentary and does not constitute investment advice. We encourage you to do your own research before investing.

Join CoinCu Telegram to keep track of news: https://t.me/coincunews

Follow CoinCu Youtube Channel | Follow CoinCu Facebook page

Harold

CoinCu News