September 28, 2022

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The whole crypto community is anxious as the highly anticipated merge of the Ethereum network approaches its due date (September 15). What happens after is a subject of many speculations. Some experts believe that the worst-case scenario is that ETH may drop to $400 by September, as many networks will fail to meet the expectations of overly hopeful investors.

Many people think that the network may even be split into a hard fork created by a group of influential miners. This event would create a new token that may outperform the original one in the short term creating a period of chaos in the market.

On the other hand, some analysts predict a completely different scenario in which ETH soars to new heights and breaks through the $2000 resistance level that was established in the middle of August. The latter scenario seems to be unlikely due to the overall weakness of the crypto market and the ongoing recession.

How does Cardano fit in this whole ordeal? ADA has been gaining momentum recently and the rally seems to be only growing. Cardano is one of the most prominent competitors of the Ethereum network and can be viewed as the new network of choice for many DeFi projects if the renovated Ethereum does not satisfy users.

In the worst-case scenario for ETH, Cardano will quickly overtake it thanks to the Vasil hard fork scheduled for September 22, right after the Ethereum merge. If Cardano manages to do everything right and Ethereum loses its users, ADA may see an even bigger spike in price. Currently, it seems that bulls are pumping the price without any reason other than creating hype. However, this hype can turn into reality.

The whole community is interested in how things will play out during the next three weeks. However, the sheer presence of the possibility that fundamentals could justify the current growth of Cardano is enough to make us think that the ongoing pumping is a good thing. Ada is traded at $0.503 with a 12% growth over the last 7-day period.


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