Cardano [ADA] Prices Soars As Ethereum’s Delayed Hard Fork Causes Uncertainty

Cardano [ADA] Prices Soars As Ethereum’s Delayed Hard Fork Causes Uncertainty

Cardano ADA has been performing exceptionally well for the last couple of hours in what has been a fairly bearish market. At the time of press, Cardano has soared by over 3% and is now trading for a little over $0.044.

Cardano’s bullish charge comes in the wake of a milestone achievement from the network. On Jan 09, Charles Hoskinson announced that Cardano’s sidechain paper had been accepted on the Oakland cybersecurity conference. This is a major conference that will see Cardano receive great exposure.

Cardano is also expecting a major boost in the coming days with its Shelley phase expected to launch in Q1 2019. This phase will see the Cardano blockchain move from its current Byron phase and become fully decentralized.

In the coming days, Cardano should continue being largely bullish as more positive news emerge and the network continues to expand on its adoption.

The wider market is today recording marginal drops with no major movements from top tier cryptocurrencies. Bitcoin BTC is at the time of press trading around $3,670 after a slight drop from $3,700. XRP, on the other hand, is trading a little over $0.33, recording a marginal gain of 0.30%.

Ethereum ETH Response To Constantinople Hard Fork Delay

The upgrade on the Ethereum network has been anxiously awaited with “cautious optimism”. While everyone was looking forward to the improvements that would be born out of it, there was no telling what was going to go wrong during or after the upgrade. On Jan 15, hours away from the upgrade, the Ethereum team canceled the upgrade- temporarily at least.

The delay on the upgrade came after a red flag was raised on a potential loophole that could allow hackers to attack the network. Now, a new date for the upgrade is expected to be issued on the 18th of January during the next development meeting.

The delay doesn’t seem to have affected Ethereum ETH prices by much. At the time of press, Ethereum is recording marginal losses and is trading for $126. Ethereum was on a bullish run for the better half of yesterday but following the announcement, Ethereum dropped from $129 to a little over $120.

A price correction has seen Ethereum make a recovery and close on to yesterday’s highs. The vulnerability, which was flagged off by ChainSecurity, although well timed will see more investors get cold feet in regards to the upgrade.

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