On September 22, Cardano, a smart contract platform, underwent its highly anticipated Vasil hard fork, which aims to increase network performance and capacity. Just before the launch of the Vasil hard fork, there was speculation that it will turn out to be a similar merger to Ethereum where ETH fell after the merger. However, Cardano’s native currency, ADA, also went the way of ETH as ADA did not increase after the incident.
Meanwhile, the Cardano network has come up with some developments for the network. Although the Vasil hardfork was released on September 22nd, the hardfork became fully available to developers today, September 27th. This hard fork comes with the promise of supporting referral inputs, collateral outputs, and much more.
Tomorrow we will see the rest of Vasil’s improvements updated on Cardano Mainnet! This brings the rest of the updates for Plutus 2 along with CIP 31-33! Developers will now be able to build and launch all their projects starting the new era of Cardano Defi!🏄
— Lucid (@LucidCiC) September 26, 2022
Also Rick McCracken DIGI, the one who implemented the DIGI staking pool on the Cardano network, shared his observation mentioned below via Twitter on September 26.
ADA Entries Amid a Bear Market
At press time, Cardano is trading at $0.44 after a 0.65% drop in the last 24 hours. The coin’s immediate resistance lies at $0.55, around which the coin’s future price action sits.
These developments are why the ADA community is still holding on to the coin despite its poor performance.
On the other hand, the Cardano network is experiencing huge income from its investors and this is confirmed by the CoinShares report stating an income of $100,000 ADA in blockchain-focused crypto products.
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This post Cardano (ADA) fails to claim Bull Run, but community hangs on
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