IOHK weekly update leaves $0.320 on the horizon

Speech by FOMC members and comments from US Treasury Secretary Janet Yellen provided support for the ADA and the broader crypto market. The upside has reduced the potential impact of the Input Output HK network updates.

Input Output HK Weekly Update Provides Some ADA Price Support

On Friday, Input Output HK (IOHK) released its weekly Cardano development report on October 21. The number of projects failed to impress, with a stream of projects yet to be realized.

According to the latest news a reportAnd the

  • 103 projects were launched in Cardano, an increase of one over the previous week.
  • 1,122 projects based on Cardano, an increase of two over the previous week.

Prior to Vasil’s hard fork, the number of projects launched on Cardano was 98, with 1,100 projects built on the Cardano network.

While ADA pulled back from the broader crypto market on Friday, it was a rough time for ADA investors. Since Vasil’s hard fork, ADA has fallen in 20 of the past 28 sessions, leaving ADA down 23.8%. In contrast, the cryptocurrency market fell by 3.13%.

The recent shift in the Fed’s speech could support the recovery and divert investors’ attention away from the post Vasil hard fork updates. However, Fed Chairman Powell will need to take a less hawkish stance in order to have a lasting impact on the crypto market.

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