How ready is Cardano? [ADA] Before Vasil . Upgrade

Cardano [ADA] It’s been discussed at length recently, with Vasil Upgrade release data finally being revealed. With the development of Cardano turning into a moot point again, @Cardano the whale We recently shared some thoughts on Cardano’s growing power in development.

according to whom AnalyticsCardano is the first protocol since Ethereum to roll out the DeFi ecosystem largely without a VC move. The same can be demonstrated by Cardano’s DeFi protocol as it operates in a more autonomous manner compared to its competitors.

Cardano continues to build

Cardano also shared the latest weekly progress report which continues to show progress on the network. According to the report, the network completed 49.1 million transactions at a relatively low rate. The report also claimed that 75% of the major blocks were generated by Vasil’s final nodes. In addition, Top 10 Cardano dApps (by TVL) have confirmed that they have upgraded to the latest version 1.35.3 and are home-ready.

Vasil’s noise is starting to reap the rewards of traders as we observe ADA’s price action. According to CoinMarketCap, ADA was available at $0.49 at press time after a late rally in the past 24 hours. The ADA chart showed a rise of 4.88% over the cited period, with ADA up 9.92% for the week. This, rising on the back of weeks of uncertainty for investors.

The rise in traders’ fortunes has also been confirmed by Cardano’s MVRV chart in recent days. As seen below, MVRV was heading south at the end of August, but has seen a rapid recovery recently. For the first time since mid-August, ADA trading is once again profitable.

Source: feeling

As the altcoin price surged higher, there was also an increase in ADA trading. In the last 24 hours, there has been a massive 76% increase in Cardano’s trading volume.

However, current volume data is still below the average performance in June 2022 when it peaked at $2.66 billion.

Source: feeling

Where is the next stop

As mentioned earlier, Vasil’s upgrade is scheduled for September 22nd. Cardano looks poised for a big move and ADA pricing completes the situation.

There is now renewed hope in the community for the next stage of cryptocurrency development.

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