Cardano (ADA) was promising to introduce many improvements to its functionality and provide exciting opportunities for app builders to deploy faster and more agile products on their platform by reducing the size of the block and increasing throughput (marginally) by implementing the Vasil upgrade. Many industry experts were talking about its delay to September 22 as if it was a tactical move because Ethereum’s merge with the Beacon network was scheduled for September 15.
These two networks are direct competitors and rivals with some beef between developers. Both parties did not pull their punches when talking about the opposition. In many ways, Ethereum looks like a clear favorite, but there are many users and investors on the side of the underdog.
Cardano was supposed to surge in price
With a lot of buzzing surrounding the upcoming Vasil upgrade and many crypto enthusiasts talking about it excitedly, experts forecasted a surge in price. ADA did not move much in anticipation of the hard fork despite some activity and notable growth ahead of Ethereum’s merge. It seems that the market was underwhelmed by the latter and was unfazed by the implementation of the Vasil upgrade too.
Since September 22 when the upgrade was deployed, Cardano not only failed to reach new heights, it lost 5.2% (calculated by highs) by October 1. The downtrend seems to be gaining momentum with not much left unrevealed in the roadmap and aspirations of the network.
Both Ethereum and Cardano are being pressured
Algorand is another important performer in this play. This network deployed a massive upgrade increasing its throughput by 400% from 1200 TPS to 6000 TPS. While some experts are concerned with safety, it is something that can be dealt with further down the line. What is important is that Algorand’s layer 1 network is already faster than many layer 2 platforms that use the rollup principle to conserve data.
Algorand is the direct competitor of Ethereum and can quickly catch up if the latter isn’t fast enough to bring something valuable to its users and investors. The same can be said about Cardano. ALGO gained 14.3% since September 21.