Assessing Cardano’s [ADA] health ahead of Vasil hard fork
Cardano is ramping up activity since Vasil fork is edging closer as we enter the second week of June. It is now up and running on the right path with major indicators leading the way for a bullish rally. IOHK has also given a timely update on the latest developments on the project.
As per a Santiment tweet, 39 whale transactions were recorded between 2 p.m. and 3 p.m. on 3 June. Whale activity has been on the high ever since that hour along with a 17-day high social volume of Cardano. These metrics have eventually attributed to a +32% price surge for ADA as it approaches the launch of the Vasil hard fork.
Source: Santiment/ Twitter
Cardano has reached a new milestone as the number of projects building on the platform has crossed the 1,000 mark. According to data shared by IOHK, the number of projects on the Cardano network has reached 1,003, up from 992 reported over the weekend.
IOHK also released a network growth report that signalled NFT project growth to around 5.800.
Source: IOHK/ Twitter
According to another IOHK update, the Cardano team has delivered a new node for Vasil with the release of its command-line interface. The update also reassured users with a message that read- “Alongside we continue to address the remaining issues we’ve caught.”
ADA is currently on a bull run following high whale activity and social volume in recent days. The token is up from $0.54 to $0.64 during the past week while also showing a volume surge.
Source: CoinMarketCap
At press time, the volume was up by 52% in the past 24 hours. The high volume can be a result of the IOHK updates initiating a positive response from the community.
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