Analyst Michael Van de Poppe says that Cardano price is preparing for a price rally after testing resistance several times. Cardano developers are leveraging zk snarks to provide higher privacy and smart contract functionality on the altcoin chain. Analysts predict that it will rise to $0.67 after Ethereum killer crosses 0.55.
Cardano prepares to leverage zk snarks and increase decentralization
Cardano developers are expecting major network changes as a result of the upcoming Vasil hard fork. Analysts at Messari note that for Cardano, its expanding ecosystem is important for the rise. Besides, as a result of the hard fork upgrade, Cardano is adopting a bullish outlook. As you follow on Kriptokoin.com, analysts believe Cardano is ‘priced more aggressively’ compared to other cryptocurrencies as the altcoin’s ecosystem expands due to the Vasil hard fork. Vasil is associated with scalability, productivity growth and expansion of the altcoin ecosystem. So, hard fork is key to Cardano’s growth.
Developers are emphasizing on increasing throughput and improving smart contract performance. Cardano’s developers plan to take advantage of zk snarks, devices that provide enhanced privacy and security on the Blockchain, by allowing one party (the certifier) to prove that a statement is true without revealing any information to the other (verifier). This will provide more privacy-preserving and smart contract functionality without sacrificing decentralization features.
On the other hand, analysts and fans criticize the altcoin for the delay in the Vasil hard fork. That’s why the term “ghost chain” is used in relation to Cardano. However, frequent upgrades to the Cardano network make up for it, making it profitable for developers and NFT projects. Investors prefer Cardano over its competitors for efficient and low-cost transactions and secure network infrastructure.
Analyst predicts altcoin price rally to $0.67
Michael Van de Poppe, a prominent crypto analyst, evaluated the Cardano price trend. The analyst predicts a rally to $0.67 for the altcoin. Van de Poppe notes that Cardano price has passed an important resistance level at $0.55. According to the analyst, this has increased the likelihood of Cardano price rising to $0.67.
Meanwhile, FXStreet analysts are also making price predictions for Cardano. Analysts say the altcoin price is approaching a major breakout. In this regard, they note that after months of experimentation, Cardano is ready for a 20% price rally. At press time, Cardano is trading at $0.5336, up 0.73% on a daily basis. Altcoin has gained more than 7% in the last 7 days.
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