• Cardano is one of the largest proof-of-stake blockchains in the world in terms of market valuation according to a new White House energy report. 
  • As the Vasil hard fork draws close, analysts predict a rally in Cardano. 
  • If Cardano price crosses the critical $0.55 level, analysts expect sustained buying pressure to trigger ADA’s uptrend. 

According to a new White House energy report, Cardano is one of the largest proof-of-stake blockchains in the crypto ecosystem. With the Vasil hard fork drawing close, analysts are bullish on Cardano price. 

Also read: Bitcoin traders play waiting game ahead of CPI data and the Merge

Cardano emerges as one of the largest proof-of-stake blockchains

A recent report issued by the White House aims to understand the impact of cryptocurrencies on climate change. The report revealed that Cardano is one of the largest proof-of-stake blockchains in the world, in terms of electricity consumption and market valuation. 

The government is evaluating cryptocurrencies to identify reforms needed to implement to improve the cryptocurrency’s market impact on the environment. Cardano has an overall rank of 3, while it has claimed the number one spot among proof-of-stake blockchains. 

The Vasil hard fork scheduled for September 22 is drawing close. If the event goes smoothly it is likely to fuel a bullish sentiment among holders. At least 25 cryptocurrency exchanges have indicated that they are ready. 

One of the key requirements for the Cardano Vasil hard fork is that 75% of all blocks should be created by the latest version of the Vasil node. This number is now 94%, a green light for Cardano’s hard fork. 

The ten largest decentralized applications in the cardano ecosystem are now ready for the mainnet, extending their support to the Vasil hard fork.

Analysts identify $0.55 level as the make or break point for Cardano 

Rekha Chauhan, a leading crypto analyst believes the $0.55 level is critical to Cardano’s price trend. If the altcoin climbs under sustained buying pressure, it is likely to breach the critical level ahead of the Vasil hard fork. Bulls could take charge, fueling Cardano’s price rally and its uptrend. 

ADA-USD price chart

ADA-USD price chart

Cardano developers at Input Output Global hit several development milestones on its path to the Vasil hard fork. Check out the following timeline to go through the key events on Cardano's journey to a scalable, highly efficient and cheaper transactions on its blockchain. The Vasil hard fork is likely to draw developers to the network and make Cardano the preferred blockchain with its high scalability and accessibility. 

 


Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility. The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position of FXStreet nor its advertisers. The author will not be held responsible for information that is found at the end of links posted on this page.

If not otherwise explicitly mentioned in the body of the article, at the time of writing, the author has no position in any stock mentioned in this article and no business relationship with any company mentioned. The author has not received compensation for writing this article, other than from FXStreet.

FXStreet and the author do not provide personalized recommendations. The author makes no representations as to the accuracy, completeness, or suitability of this information. FXStreet and the author will not be liable for any errors, omissions or any losses, injuries or damages arising from this information and its display or use. Errors and omissions excepted.

The author and FXStreet are not registered investment advisors and nothing in this article is intended to be investment advice.

Recommended content


Recommended Content

Editors’ Picks

US Senate likely to vote on the stablecoin GENIUS Act by Memorial Day as Brazil considers stringent regulations

US Senate likely to vote on the stablecoin GENIUS Act by Memorial Day as Brazil considers stringent regulations

US Senators Kirsten Gillibrand and Cynthia Lummis are optimistic that the Senate will vote on the revised stablecoin bill by Memorial Day. The revised stablecoin bill has refined key elements, including ethics, consumer and bankruptcy protection.

Bitcoin retreats further as chances of major breakthrough in Russia-Ukraine peace talks weaken

Bitcoin retreats further as chances of major breakthrough in Russia-Ukraine peace talks weaken

Bitcoin price edges below $102,000 on Thursday after repeated rejections at the $105,000 resistance over the past five days. Neither US President Donald Trump nor Russian President Vladimir Putin are expected to attend the Ukraine-Russia peace talks in Turkey.

Top 3 Gainers Amp, Aethir, Helium: AMP, ATH lead market gains as broader crypto market cools

Top 3 Gainers Amp, Aethir, Helium: AMP, ATH lead market gains as broader crypto market cools

The cryptocurrency market is taking a breather on Thursday after sustaining gains for almost two weeks, buoyed by heightened risk-on sentiment amid easing trade tensions between the United States (US) and China.

XRP price risks slashing weekly gains as liquidations surge amid falling network growth

XRP price risks slashing weekly gains as liquidations surge amid falling network growth

XRP price peaked at $2.65 on Wednesday, stalling the uptrend amidst a market-wide slowdown. Long liquidations reach $8.44 million over the past 24 hours as the uptrend targeting $3.00 falters.

Bitcoin: BTC bulls aim for $105,000 after nearly 10% weekly gains

Bitcoin: BTC bulls aim for $105,000 after nearly 10% weekly gains

Bitcoin price stabilizes around $103,000 on Friday after rallying nearly 10% this week. Risk-on sentiment prevails as Trump announced a trade deal with the UK and ahead of the meeting with China this weekend.

The Best brokers to trade EUR/USD

The Best brokers to trade EUR/USD

SPONSORED Discover the top brokers for trading EUR/USD in 2025. Our list features brokers with competitive spreads, fast execution, and powerful platforms. Whether you're a beginner or an expert, find the right partner to navigate the dynamic Forex market.

BTC

ETH

XRP