– ADA is on an upswing managing to outperform other tokens since its crossing with Vasil. – The countdown for the Cardano Vasil mainnet upgrade has started but could take 4 weeks of testing.
Although the entire crypto market suffers from the downtrend, especially Bitcoin, there is still hope that all this will end, and Cardano could be the token of choice for the new adoption wave. According to CoinMarketCap and other crypto analysis web platforms, the ADA token maintains its value of almost 0.50 cents even though over six months of this setback stage have already been completed.
The ADA development has experienced would undoubtedly surpass other tokens such as SOL and Ether, according to the firm Santiment, dedicated to crypto analysis. On the other hand, Bitcoin would exceed the trading range by more than 79 points, and Binance Coin would occupy a score of 0.2, according to Santiment.
Last week, IOHK announced it had submitted an update proposal to hard fork the Cardano testnet, thus starting the countdown for the Vasil mainnet upgrade. Exchanges and SPOs (stake pool operators) need at least four weeks of testing after testnet deployment, which puts the tentative date of the Vasil mainnet hard fork at the last week of July.
According to the Cardano director, with Cardano's stability and scalability, it is believed that its network will bring excellent performance due to the Vasil hard fork. The performance seen in ADA shows its maximum range. With the hard fork updated, four projects for its improvement or CIP could be integrated.
Cardano has shown the highest development activity for the week, with over 399 Github commits made. Cardano ranks ahead of projects like Kusama and Polkadot, which had 257 commits made during the week. The number of projects building on Cardano has also surpassed 1,022, according to data shared by IOHK.
Vasil could be delayed until the last week of July due to Terra's collapse. In turn, the group indicated that its engineers would continue the project and measure three times and cut once, depending on the conditions. Vasil is quite significant as it might allow the launch of dApps and stablecoins.
Regardless of the fall of the Terra network, USDT, in previous months, Cardano continues to stand up, managing to outperform other tokens since its crossing with Vasil.