The fall of Cardano began in September 2021 with the Alonzo hard fork, which added support for smart contracts. The update opened the doors to the fast-growing segments of NFT and DeFi, which implied an increase in network usage and an increase in the cost of coins. Investors bought ADA so actively that their share exceeded the total volume of whales and traders, and Cardano entered the TOP 3 of the rating.
However, everything went awry, the network faced a monstrous load, and a number of users accused the blockchain of being unable to process more than one transaction per block. Developer Charles Hoskinson rejected the accusations, he was supported by partners from young projects.
So, the decentralized exchange SundaeSwap promised to take into account the shortcomings of its predecessors, but on the launch day (January 20, 2022) it still faced network loading and transaction delays. This increased the flight of investors.
Hoskinson promises that everything will change with the Vasil hard fork, which will add pipelining, increase network throughput and avoid a number of identified errors. According to the developers, Vasil is the most significant update since entering the Shelley phase.
It seems that major market participants share their optimism:
sharks with wallets from 10 thousand to 100 thousand. ADA has added 79 million coins to its reserves over the past month.
More than 1,000 projects that are at one stage or another of development are also waiting for an update. Most of them are focused on the NFT sector.
The Vasil update should be rolled out by the end of July. If the network manages to achieve its goals, the number of implemented projects will increase many times, the number of users and the demand for ADA will grow.