Now that the hype about merging has died down, it’s time for it Cardano [ADA] To take over. The Vasil hardfork is coming this month and the entire crypto community is keeping a close eye on the network.
Recently, Input Output Global (IOG) tweeted all the new and interesting developments that occurred last week regarding Vasil’s hard fork.
Every Friday we publish our weekly magazine #cardano Development update. So, to see what the IOG development team has been working on last week, go ahead and take a look https://t.co/otiCZmzx6a
– InputOutputHK September 16, 2022
Here’s what’s new
According to the latest announcement, the total number of transactions on the Cardano network has reached 50 million. There has also been a similar increase in the number of original tokens, exceeding 6 million.
According to the IOG, the Marlowe team tested Marlowe’s Plutus validators in a mock test environment. They also applied Marlowe’s currency selection and transaction balancing algorithm.
In addition, the Daedalus team has also been testing the new firmware for Trezor. The most notable change is that the pre-production environment will be working hard on September 19, before the main network hard fork.
While all this development has been around the Cardano network, the price of its token has remained premium. In addition, the token recorded a negative 8% growth over seven days. However, the sigh of relief is that the price of ADA has grown by almost 2% in the last 24 hours. At the time of writing, ADA is trading at $0.4765 with a market capitalization of $16,289,324,035.
All the best for ADA now?
With less than a week to go until Vasil’s upgrade, many metrics have been set ADAIt suggests better days to come. For example, ADA development activity has been on the rise over the past month. This corresponds to all recent updates.
The 30-day ADA’s Realized Market Value (MVRV) ratio is also slightly higher, which could lead to an increase in prices. Additionally, the social dominance of ADA has also increased over the past week. This indicates a growing interest from investors and cryptocurrency enthusiasts for the token.
However, according to cryptoquant data, ADAThe Relative Strength Index (RSI) and Stochastic Oscillator were at neutral positions.
Given all the recent developments, stats, and price action for ADA, we can expect to hear better news with the Vasil upgrade around the corner.