Cardano (ADA) Vasil Upgrade: Recent Updates Worth Holder Attention

The crypto community has waited for the much-anticipated Vasil hardfork. Cardano developers delayed the upgrade early in the year due to various reasons. Recently, IOG (Input Output Global) tweeted about several developments, confirming to onboard them soon.

Amid the excitement and hype, Cardano’s chart revealed an attractive development for the coin in the upcoming days, as ADA revives from the previous week’s drop. While publishing this news, the altcoin traded at $0.4477, with a $15,105,557,162 market cap.

Cardano developers remain dedicated to completing the Vasil hardfork rollout seamlessly. Thus, developers are giving Dapp developers and exchanges enough duration to update nodes before hardfork. Furthermore, Input Output Global tracks three massive indicators.

Moreover, IOG revealed that over 80% of Stake Pool Operations (SPOs) have upgraded. And over 70% of the leading decentralized applications (tracked) confirmed fruitful pre-production testing. Furthermore, two crypto exchanges have upgraded and prepared for rollout. Meanwhile, 27 queueing.

The mentioned developments show that Vasil’s wait could be over. Indeed, the upgrade represents the most significant update in the Cardano platform.

What More?

Meanwhile, Cardano’s on-chain metrics corresponded to IOG’s amplified efforts for the hardfork with multiple impressive movements. For example, ADA’s social volume soared within the previous week. That confirmed the community’s interest in the altcoin ahead of the Vasil upgrade. Moreover, Cardano’s daily active wallets maintained consistency within the last month.

Also, ADA received a vital kickstart after recording sluggish performance in August’s second half. Assessing Cardano’s 4hr chart also revealed a similar case, with the Exponential Moving Averages (EMAs) reducing considerably.

Therefore, this can indicate a potential upsurge in the upcoming days. The CMF (Chaikin Money Flow) readings also flattered EMA Ribbon findings with an upward move. Nevertheless, the MACD (Moving Average Convergence Divergence) revealed a contrary case. A bearish cross occurred on September 1, reducing the chances of a near-term upside breakout.

Meanwhile, bearish tendencies panted reds in crypto charts during this publication. Bitcoin seems to struggle beneath the $20K mark. While publishing this post, BTC changed hands at $19,756.22, dropping 1.20% within the past 24 hours. The upside path remains foggy as bears threaten more dips.

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