After the long-awaited Vasil update was deployed on the Cardano (ADA) network, crypto investors and traders are examining the token’s market activity to forecast its movements in the near future and choose the optimal timing to purchase.
According to popular cryptocurrency trader Michal van de Poppe, the optimal moment to purchase Cardano is when its price moves into the range of $0.30 to $0.375, as he described in a September 25 tweet.
In his view: “The optimal location to purchase from is between $0.30 and $0.375.” Moreover, Van de Poppe remarked that the cryptocurrency’s trajectory “suggests that we are acquiring.”
Moreover, the trading expert predicted that Cardano’s reversal from its current negative trend will spark longs.
Despite LunarCrush statistics indicating a huge rise in social mentions about Cardano in the lead-up to the Vasil update, Cardano’s price did not see a price explosion.
As of press time, the decentralized finance (DeFi) cryptocurrency was trading at $0.4384, down 3.65% on the day but up 0.34% over the last week, according to statistics from CoinMarketCap.
According to Input Output (IOHK), the corporation that operates the platform, the objective of the Vasil update was to improve the usefulness and efficiency of smart contracts, unlock a number of capabilities that allow data exchange on-chain, and provide diffusion pipelining.
Finbold said that between mid-July and mid-August, five new Plutus Scripts were added to the platform per day, bringing the total number of smart contracts on the platform to over 3,000.