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Cardano’s price drops ahead of Charles Hoskinson’s speech at the US Congress Committee

  • On June 23, Charles Hoskinson was invited to speak at the US House of Representatives Committee on Crypto and Blockchain.
  • Analysts are bullish on positive cryptocurrency control as they share their thoughts on the Hoskinson crypto and address controllers.
  • Still, the delay in Vasil Hard Fork’s timeline could have serious impacts on ADA prices.

Charles Hoskinson will speak on blockchain and cryptocurrency on June 23 before the US House of Representatives Committee on Agriculture. Proponents believe Hoskinson’s message is an exciting opportunity for Wyoming senators and current authors of the crypto regulatory bill.

Charles Hoskinson to talk about crypto before a US congressional committee

On June 17, Charles Hoskinson, co-founder of IOG (formerly IOHK), said he was invited to speak at the US Congressional Committee on Blockchain and Cryptocurrency. The meeting will be streamed live on YouTube on June 23, 2022 at 10:30 AM EST.

Hoskinson addresses the US House of Representatives Committee on Agriculture about blockchain and crypto. Proponents have a positive outlook on the upcoming crypto regulation bill, as Cardano’s co-founders share their thoughts on the regulatory bill in the US. Hoskinson is said to be close to the senators in Wyoming, where Input Output Global (IOG), formerly known as IOHK, is headquartered. Senator Lummis is one of the main authors of the current regulatory bill.

Speaking on behalf of the cryptocurrency industry as a whole, Hoskinson is expected to help educate regulators in charge of crypto in the US under the Commodities Futures Trading Commission (CFTC).

Cardano’s Vasil Hard Fork is delayed to July 2022

Hoskinson also revealed some of the best things to make sure everything worked out as expected for the Vasil Hard Fork. The engineering team identified seven faults in the testing phase and none of them were severe. Developers are now working on resolving these issues and would like to allow more time for testing rather than rush the hard fork event.

Delivery and products chief Nigel Hemsley said the team still needed a few days to re-evaluate the latest condition. The date for the release of the Vasil Hard Fork in Cardano Mainnet is set for June 29.

Input Output Global and the Cardano Foundation expects the Vasil Hard Fork Mainnet to arrive in late July. The network upgrade is geared towards dApp developers and enhances scaling in Cardano and improves block diffusion. The developers of the project are known for their “slow and steady” approach and the community applauds the decision to push the hard fork instead of rushing to release its Mainnet.

Proponents have praised Cardano’s move to delay the Vasil Hard Fork, a testament to the steep correction in the ADA price.

ADA prices fell 5% overnight

On June 21, Cardano’s price reached its weekly high of $ 0.508. Since then, the ADA price has fallen, posting a 25% loss in the last two weeks and nearly 85% lower than its record high of $ 3.09.

Analysts believe Altcoin is bouncing back from major support. Crypto analysts at Babypips.com view the key steps in the ADA price chart, arguing that sluggish crossover sales can increase pressure and push it down. However, Cardano may break the rally if the price rises above $ 0.55.

ADA-USD Price Chart

ADA-USD Price Chart

FXStreet analysts have uncovered a bullish outlook on Cardano’s price and believe the ADA could reach $ 0.67. For more information, watch the video below:

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