By Franklin Smith
Cardano announced an impressive update as it awaits its upcoming Vasil testent in June 2022. The ecosystem revealed a massive foundation with multiple new projects planned with Fund9 for launch. Meanwhile, the community highly awaits the upgrade.
Recently, Cardano published its Weekly Development Report, informing followers about anticipated updates.
The report highlighted timely updates connected to the latest undertaking on the ecosystem as it awaits Vasil hardfork in the coming month. The blockchain plans to release the testnet early in June, whereas the hard fork will arrive on June 29.
The report shows IOHK revised how various teams performed, with Marlowe and Plutus teams presenting impressive work. Plutus added Plutus.ChainIndex.App to ensure efficiency in processing startup logos while optimizing to the MakeKnownM bulletin.
Meanwhile, the Marlowe team advanced user optimization within the Marlowe Run. Also, they introduced Sentry integration plus fixed mock-chain testing problems.
Project Catalyst revealed the Fund9 launch with an ADA grant for $16 million and additional ecosystem rewards. The project expects more than 1,000 proposals, planning the launch on June 1.
Charles Hoskinson acknowledged a post by a Twitter user that NFT sales on the Cardano ecosystem touched $27 million during April sessions.
Another NFT news had the IOHK reporting 800,000 NFTs addition to the ADA platform since March 2022. Increased non-fungible art mints plus projects contributed to the Cardano ecosystem’s growth.
What About Prices
ADA prices continue to succumb to the ongoing market fall regardless of the network accomplishments. With over $18 billion in market cap, ADA ranks 8th in the crypto list by value. While publishing this article, ADA traded at $0.54, gaining over 3.54% within the past day.
Nevertheless, the altcoin remained down from the $0.6 weekly high amid surging turbulences within the marketplace. Moreover, the latest 30% decline by network volume to $450 million means pessimistic actions. Remember, the ADA volume hovered at $1 billion as the week started.
Social dominance gained to 3% yesterday following the report release. As highlighted, the IOHK announcement comprised Vasil launch details. And that propelled the social metric.
Cardano might expect surged volume soon amid the increased social media dominance. The surge can ensure lucrative impacts on Cardano prices amidst the Vasil hardfork.