Coin Bureau said that after Cardano successfully completes its upgrades, institutional investors may turn to ADA.
Speaking in an interview with Benjamin Cowen, the analyst drew attention to the importance of successful upgrades that Cardano has accomplished.
Coin Bureau Highlights Upgrades
Coin Bureau stated that seamless upgrades like Vasil could make investors look at the project positively.
“Long-term investors, especially institutional investors – which is clearly where Cardano is lacking – or an individual investor will take a look at the reviews on Ethereum and Cardano after they become interested in crypto. These investors will think, “These guys were able to make these upgrades flawlessly, it’s a testament to the caliber of the people working on this project.” Although it did not have a positive effect on the price, this is extremely positive especially for Cardano.”
While the analyst admits that ADA’s performance is inadequate, he says this is due to the current bear market.
“Obviously, the upgrade didn’t have any effect on the price. It’s a bear market and unfortunately you know the consequences. But I don’t think it’s anything discouraging. It means building for the future.”
The Vasil hard fork has had a significant impact on the smart contract platform. Transaction fees have halved, while transaction speed has increased tenfold.
At the time of writing, ADA is trading at $0.42, according to CoinMarketCap data.
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