Coin Bureau: A successful Cardano update will be a bullish signal for institutional investors

کوین بیورو: به‌روزرسانی‌ موفق ‌کاردانو برای سرمایه‌گذاران نهادی سیگنال‌ صعودی خواهد بود

Coin Bureau: Cardano’s successful update will be a bullish signal for institutional investors – Erzdigital

The price of Cardano has continued its downward trend since the end of May until now, contrary to bullish events such as Vasil’s hard fork. However, Coin Bureau, a well-known cryptocurrency analyst, says that the successful completion of this update could be a bullish signal for investors, especially institutional investors.

To Report In an interview with Benjamin Cowen, a digital currency analyst on YouTube channel “Into the Cryptoverse”, Daily Hodel, Coin Bureau said that in the near future, investors will look for blockchain projects with a history of successful updates, such as Vasyl Cardano’s hard fork.

According to him, flawless updates like Vasil’s can be proof that the developers behind these technologies are the right people to support financially.

Kevin Bureau explained:

I think investors, especially institutional investors with a long-term view of the trend, will check out the likes of Ethereum and Cardano once interest in cryptocurrencies returns. Of course, Cardano is obviously lacking in this regard. Well, these guys were able to roll out these updates flawlessly and I think that’s a testament to the ability of the people working on those projects. I imagine these efforts will be a big part of what people consider (for investment) in the future. Although the price has not changed significantly so far, I believe that this update is very positive for Cardano.

The analyst went on to state that the recent underperformance of Cardano’s price is part of the current bear market, which has had the same effect on the value of most cryptocurrencies.

Obviously, (Vasil’s hardfork) didn’t really have any effect on the price, as the current market is bearish. Unfortunately, you know that’s what happens, but I don’t think it’s something to be discouraged about. I believe this is a real building block for the future and future updates.

Based on data Decentralized exchange MuesliSwap, Vasil’s hard fork has had a significant impact on the performance of the Cardano smart contract platform. This update has almost halved fees and increased transaction processing speed by 10x.

Coin Bureau: A successful Cardano update will be a bullish signal for institutional investors

Charles Hoskinson, one of the founders of Cardano, also recently said that this Ethereum competitor will continue to evolve to improve its scalability and efficiency.

Atlas Aruzdigital

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