Sunday, January 29, 2023
HomeAltcoinCardano (ADA) Surges as It Ready for Vasil Upgrade

Cardano (ADA) Surges as It Ready for Vasil Upgrade

  • AADA’s Total Value Locked had significantly increased by $366,898.
  • Currently, Cardano has 60K active addresses.

Many exciting developments leading up to the Cardano (ADA) Vasil hard fork. Input Output Hong Kong (IOHK), is preparing the whole upgrade process, and the final Cardano upgrade scheduled on September 22nd.  Following this, Aada, a lending protocol on the Cardano mainnet also increased. According to DeFiLlama a TVL aggregator, AADA’s Total Value Locked (TVL) had significantly increased by $366,898, in the previous seven days.

The Cardano ecosystem’s non-custodial decentralized exchange, ADAXPro, was also impacted by this Vasil hard fork upgrade, and ADAX has increased by 2564% during the previous 30 days. With all these increases, Cardano’s TVL value reached $80.88 million.

Also, Cardano’s daily active addresses increased significantly. The ADA’s 24-hour active addresses had risen, and currently, Cardano has 60K active addresses, as per Santiment data. Following that Cardano circulation maintained certain consistent levels from September (34.13B).

Cardano (ADA) active addresses (Source: Santiment)

Cardano Gained Prominent Exchanges Support

Before moving into this significant upgrade, Cardano received some further boost from 39 prominent exchanges, including Binance, Upbit, and AAX, which are the key actor in this upgrading process, and Coinbase, which is in the in-progress state.

As of now, Binance, the largest world’s largest cryptocurrency by daily trading volume declared on its Twitter account that it was also supporting the upgrade. This addition improved liquidity readiness by up to 98%. 

The price of ADA increased by over 1.30% from the day before. At the time of writing, Cardano (ADA) traded at $0.45769 with a trading volume of $1,021,664,355, and ADA holds a market cap of 15 billion, as per CoinMarketCap.

Cardano (ADA) price chart (Source: Tradingview)

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