Cardano’s Vasil hard fork is a much-awaited network upgrade. According to Input Output, the Vasil upgrade is moving closer, and ADA is building bullish momentum.
The crypto market is recovering from the recent crash with many enhancements and developments, and Cardano’s native token ADA is no exception. ADA is currently trading at $0.45, up by 1.6% from yesterday. The reason behind this push is emerging news and announcements regarding Cardano. Cardano is getting an inch closer daily to its most essential upgrade, the Vasil Arduous Fork. The Cardano’s network developer, Input Output, has pointed out three significant milestones the network needed to get for the hard fork to be triggered. IOG confirmed that Cardano had met all three milestones, and the Vasil upgrade is closer than ever.
Cardano’s Vasil Hard Fork Is Almost Here
Cardano is moving closer to the Vasil upgrade, which is a significant upgrade of the network. On Thursday, Cardano developer Input Output announced it would launch new test versions of Daedalus, carrying the Cardano network closer to the Vasil hard fork. The newly launched test versions are available only for stake pool regulators and developers working on the infrastructure’s pre-production and preview testing.
There were requirements to make the Vasil hard fork bug-free, and the IOG development team successfully met the criteria. The first requirement was that Vasil’s final node version must be enhanced by at least 75% of all SPOs.
The second requirement was that the top ten dApps by TVL on the Cardano network are to be upgraded to Vasil-supported nodes. According to IOG, more than 70% of dApps have already crossed pre-production testing.
The final requirement was that at least 25 exchanges, representing nearly 80% of all ADA liquidity, have to support the network post-hard fork. In addition, it has to ensure that the environment matches the configuration of the mainnet.
Cardano Builds A Strong Momentum In The Market
Aada Finance, a crypto assets lending platform, has also announced its first lending and borrowing protocol, Aada Finance V1, on the Cardano network. V1 will be launched on September 13, 2022, and it will become the first decentralized finance (DeFi) primitives that are added to the Cardano blockchain.
Cardano (ADA) has also been recently added to Robinhood, a reputed U.S. brokerage platform. Users will be allowed to trade the ADA and get transparency to its spot price. The release claims that Robinhood listed Cardano due to users’ demand. Cardano has been a popular cryptocurrency, and it touched the top 10 by market capitalization of all cryptocurrencies. In addition, the cryptocurrency exchange giant Binance.US now supports Cardano staking. The trading platform currently provides a yearly return of 6.4% on the ADA token.
Cardano has become the second most active chain in the crypto market. Over the past few days, the Cardano network has been able to execute transactions worth $6.24 billion. The recent announcements of Cardano make ADA bullish, as indicated by RSI and MACD. Following our Cardano price prediction, it is expected that the Cardano price will surge to $2 soon.
