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- The publicity and craze of Merge has cooled down, it is now replaced by Cardano [ADA].
- The Vasil hardfork is anticipated to launch in September 2022 and the whole crypto industry has kept an eye on the network.
A few days ago, Input Output Global (IOG) posted on Twitter revealing all the fresh and engaging advancements that have been done in the past week in regard to the Vasil hardfork.
In line with the recent announcement, the number of total transactions on the Cardano network touched 50 million. Same growth has also been noticed in the amount of native tokens as it surpassed 6 million.
As per IOG, the Marlowe team experimented with Marlowe’s Plutus validators in an artificial experimenting ecosystem. They also executed a coin-pickup and transaction balancing algorithm for Marlowe.
Furthermore, the Daedalus team also experimented in the new Trezor firmware. A change that most of the people have witnessed is the PreProduction ecosystem will hard fork on 19 September, earlier than mainnet hard fork.
Better days are coming now
At the time when all these advancements had been taking place, the token price of the Cardano network calmed. Moreover, the token witnessed a negative 8% seven-day growth. But, the price of ADA went up almost 2% in the past one day. At the press time, ADA is trading at $0.4895 with a market capitalization of 16.647B.
Not more than a week for the Vasil update, various metrics were supporting ADA advising better days to come. For example, the advancement act of ADA has been constantly growing since last month. This kept in touch with all the current upgrades.
The one-month Market Value Realized Value (MVRV) of ADA also witnessed an uptrend, which may be a reason for its increased price in the future. Furthermore, the overall dominance of the platform has also grown in the past week. This is a sign of the growing interest of investors and crypto lovers in the token.
Nevertheless, as per the cryptoquant’s data, the RSI of the platform was at a constant place. Taking a note of all the advancements, metrics and ADA’s current price action, we can await for good news with the Vasil update very soon.
Steve Anderson is an Australian crypto enthusiast. He is a specialist in management and trading for over 5 years. Steve has worked as a crypto trader, he loves learning about decentralisation, understanding the true potential of the blockchain.
