Bulls’ eye returns to $0.43 to target $0.45

Cryptocurrency investors’ reaction to US crypto-friendly economic indicators extended into Saturday’s session. However, the upside was limited, with network updates for Input Output HK (IOHK) disappointing.

Hong Kong’s I/O network updates have left an impact

Saturday’s session was quiet, with no significant IOHK updates to spark investor interest. The lack of network updates caused an echo of Friday’s weekly development update.

Friday, HK Exit Entry (IOHK) chest Weekly progress report. Key statistics included,

  • 104 projects were launched in Cardano, an increase of one over the previous week.
  • Cardano-based projects totaled 1,130, an increase of three 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.

However, despite the recent update, sentiment remains bullish, supporting ADA at current levels. More importantly, news of the launch of new projects on the Cardano ecosystem will give ADA another boost.

News in late October that Citaldoc completed its first ADA deal on its telemedicine platform showed the impact of adoption on investor appetite. Transaction news supported the recovery from 2022 which was at $0.330 to $0.400.

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