Learn How To Profit From The 2021 Cryptocurrency Bullrun Now!
Get 10% Discount Off Your Crypto Trading Commissions Now!
Get Free Bitcoins!
Cardano ($ADA) has become one of the top 10 holdings of whales n the BNB Chain (which was formerly known as the Binance Smart Chain) as investors are betting on the cryptocurrency ahead of its highly anticipated Vasil hard fork.
According to data shared by whale monitoring service WhaleStats, Cardano recently became a top 10 holdings for the 2,000 largest whales on the BNB Chain. The data was shared at a time in which new developments towards the Vasil hard fork have been made.
JUST IN: $ADA @CardanoStiftung now on top 10 by trading volume among 2000 biggest #BSC whales in the last 24hrs 🐳
Peep the top 100 whales here: https://t.co/gGAxYJttsD
(and hodl $BBW to see data for the top 2000!)#ADA #whalestats #babywhale #BBW pic.twitter.com/SZqgZ4aoM5
— WhaleStats – the top 1000 BSC richlist (@WhaleStatsBSC) July 24, 2022
It’s worth noting that Cardano held by BNB Chain whales is a tokenized version of the cryptocurrency on top of that blockchain, and not native ADA tokens held on the Cardano blockchain.
The Vasil hard fork is a major upgrade that will involve four Cardano Improvement Proposals (CIPs). These include CIP-31, which introduces a “new kind of input, a reference input, which allows looking at an output without spending it,” as well as CIP-32, which allows for “simpler communication of datum values between users.”
Included in the hard fork is also CIP-33, which proposes reference scripts “be attached to outputs, and to allow reference scripts to be used to satisfy script requirements during validation, rather than requiring the spending transaction to do so.” CIP-33 will “allow transactions using common scripts to be much smaller.”
Finally, the hard fork includes CIP-40, which adds collateral outputs that remove the “need for wallets to explicitly set collateral.”
The hard fork was expected to be implemented in late June but was delayed because of Terra’s collapse, as the team behind it wanted to exercise caution before shipping out the upgrade.
Cardano creator Charles Hoskison has said the hard fork will deliver a “massive performance improvement.” Development activity associated with it has allowed ADA to see its development activity remain above that of other top cryptocurrencies over the past 30 days, even amid a cryptocurrency market recovery that saw its rival smart contract network Ethereum ($ETH) move up over 40% in a week.
Earlier this month, a panel of cryptocurrency industry experts predicted that the price of Cardano will explode to $2.93 by 2025, and to $6.53 by 2030, although experts believe that by the end of the year, the cryptocurrency will trade at just $0.63.
Similarly, an artificial intelligence-based price prediction model is suggesting that the price of Cardano’s native token ADA is going to surge to trade at $2.9 by September of this year, representing a significant increase from the cryptocurrency’s current price.