Following Ethereum’s (ETH-USD) Merge last night, there is newfound anticipation building in the crypto sector. Indeed, for investors in Cardano (ADA-USD) and the ADA crypto, there’s a lot to be excited about. That’s because Cardano’s network is next up to push through a massive upgrade.
The highly anticipated Vasil hard fork, which was initially scheduled for June, now has an official date. Interestingly, the developers behind Cardano have scheduled this launch for Sept. 22. Recent reports suggest this is a firm date. That’s great for investors, considering this upgrade has been delayed, causing concern among some in the Cardano community.
Building on the success of the Ethereum Merge, it appears investors are growing increasingly bullish about this upgrade. Despite now trading slightly lower, Cardano did see a pop after Ethereum successfully merged its mainnet with its proof-of-stake Beacon Chain.
Perhaps the Cardano developer team honed in on a September launch date to ride the momentum following Ethereum’s success. Or perhaps this upgrade has been delayed too long, and it’s finally ready to go. Whatever the case, there’s a lot of interest around this hard fork.
Let’s dive into what Cardano is planning and what it means for investors.
Is Now the Time to Buy the ADA Crypto?
This Vasil hard fork appears to be set to go. Like the Ethereum Merge, much planning has gone into this major upgrade. And like the Ethereum merge, delays have caused consternation among some Cardano die-hard fans.
That said, many suggest the fact that Cardano has taken its time with this major upgrade is a good thing. The scalability upgrades and potential transaction fee reductions should bode well for the network. However, if they’re not done right, more damage than good may be done.
Cardano’s blockchain development lab, Input Output (IOG) announced that successful and extensive testing has led them to this place. They feel ready to launch, and Sept. 22 appears like a long enough window to work out all the logistics.
From here, Cardano will certainly be an interesting token to watch. While volatility may persist, this is a token I think could have upside following a successful hard fork.
On the date of publication, Chris MacDonald did not have (either directly or indirectly) any positions in the securities mentioned in this article. The opinions expressed in this article are those of the writer, subject to the InvestorPlace.com Publishing Guidelines.