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After the most recent report on Vasil adoption, the Cardano [ADA] rollercoaster this week has achieved another high on August 27. The most recent v1.35.3 has been implemented by 69% of Cardano’s staking pool operator nodes, according to Pool Tool. To begin Vasil implementation, the community is still waiting at least 6% more.
Oddly enough, Cardano had a strong start to the week until the crypto markets fell after Powell’s speech. Since then, prominent crypto assets have experienced red flashes over the course of the last day.
After being among the best-performing assets in the market this week, ADA has suffered significantly. It has decreased 8.31% in the last day’s trading to $0.43 as of right now.
The acceptance of Vasil has resulted in an increase in Cardano’s social media trends. In light of its recent stellar success, Cardano was the “Coin of the Day” on August 26 according to LunarCrush.
Data also indicated a rise in Cardano’s social power of 55.56% over the previous month. Furthermore, throughout the time period under consideration, Cardano’s social contributions and mentions increased by 26.04% and 23.63%, respectively.
Unsurprisingly, Input Output was thought to be anticipating the launch of Vasil. They have developed a website with the most recent Vasil updates for the community in order to raise awareness.
What About ADA?
Given the state of the market, the most recent decline of the ADA coin cannot be attributed to network performance. The graph below shows that investing in ADA trading was profitable at least through mid-August.
The profits decreased sharply on August 19 along with the token value. As of the time of publication, the Market Value Realized Value (MVRV) was -13.34%, showing that this trend has persisted to this day.
Nancy J. Allen is a crypto enthusiast, with a major in macroeconomics and minor in business statistics. She believes that cryptocurrencies inspire people to be their own banks, and step aside from traditional monetary exchange systems. She is also intrigued by blockchain technology and its functioning. She frequently researches, and posts content on the top altcoins, their theoretical working principles and technical price predictions.
