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Cardano (ADA) is one of the most popular cryptocurrencies in the world. It has recently risen up the crypto ranks and is now the sixth-largest crypto asset by market cap, surpassing altcoins like XRP, Solana and Dogecoin.
This network is known for its technological advancements and upgrades. One of its most famous upgrades was the Alonzo upgrade. This caught the attention of a vast audience and significantly boosted the prominence and value of Cardano.
Now the launch of another highly-anticipated upgrade is just around the corner and has piqued the interest of more crypto enthusiasts. This new upgrade is a major deal and as per the crypto-community, it will cause ADA to cross the $1 price region.
Cardano (ADA) is one of the significant altcoins and if you are also interested in buying it then make sure you opt for one of the best crypto exchanges.
If you are new to the crypto space and want to start trading crypto then you can use PrimeXBT Covesting. It allows novice traders to copy the experienced traders. Sign up with this link today.
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Details About the New Cardano Upgrade
After the famous Alonzo upgrade, the network is now ready to launch another highly-anticipated upgrade, the Vasil Hard Fork.
It is scheduled to be launched and implemented on the network by the end of June. A poll run by CoinMarketCap revealed that more than 24,460 cryptocurrency enthusiasts believe the price of ADA will hit $1.06 by the end of June.
On the other hand, 15,900 people believe the price of the altcoin will drop to $0.97 by the end of July.
The ADA token is currently trading at $0.575 (at the time of writing) and both the price speculations mentioned above would be quite a big change for the altcoin.
Charles Hoskinson, the creator of Cardano, explained a few details about the Vasil hard fork. It has been designed to offer “massive performance improvement” and will include four CIPs (Cardano Improvement Proposals). These include the following:
- CIP-31 – “reference input that will allow looking at the output without spending it”
- CIP-32 – “simpler communication of datum values between users”
- CIP-33 – “allow transactions using common scripts to be much smaller”
- CIP-40 – adds collateral outputs that remove the “need for wallets to explicitly set collateral”
ADA has already outperformed several other digital assets as mentioned above. The activity on the Cardano network has also turned heads as Whale transactions reach a 4-month high and more than 5 million native assets were also minted on the network.
All these advancements have left crypto enthusiasts to speculate that the digital asset will cross the major $1 price region once the Vasil hard fork is implemented.
However, how the price of the digital asset will be impacted in real life is yet to be seen.
What to Know as a New Crypto Investor?
As a new crypto investor, there are several details and elements that you need to know about before you begin buying crypto.
The more you know about the crypto space, the easier and more convenient it can be for you to invest in digital assets and eventually move towards crypto trading.
Therefore, as a beginner, if you are looking to start investing in crypto, you should know and consider the below-mentioned tips.
- Choose the right exchange that offers security and ticks all the right boxes for you in terms of available features.
- Keep an eye out for the price movement of the digital asset you want to buy.
- Know the right time to invest.
- Always begin by initially investing as much as you can afford to lose.
New crypto investors, looking to buy ADA, BTC or ETH can click on SwissBorg or Kraken (U.S. citizens).
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