Ahead of the much anticipated Vasil hard fork, there has been increased activity on the Cardano network. The hard fork, touted as the biggest network upgrades on the network so far, is aimed at improving its scalability. This comes at a time when the crypto ecosystem is looking forward to another huge upgrade on the Ethereum network. While Cardano already operates on the proof of stake mechanism, Ethereum will very soon shift to the same.
Huge Activity On Cardano Network Ahead Of Vasil Hard Fork
Amid anticipation of the Cardano Vasil hard fork, the network is witnessing increased activity from traders. In addition, the Cardano network is also experiencing huge traction on the social platforms. In the last few days, there has been heightened social network activity around Cardano and ADA. Meanwhile, the Cardano price has been on an upward curve in the last few days.
In the last few sessions, the network displayed high performance network. Rick McCracken, a crypto influencer, said the network witnessed 99.77% performance at one stage. “The network sync for Cardano node 1.35.3 across the 400+ reporting nodes is at 99.77% and demonstrates a very high-performance network. My normal observations have typically been 97 to 99%.”
Cardano Gains Huge Market Share
As of writing, Cardano (ADA) price stands at $0.4954, up 0.61% in the last 24 hours, according to price tracking platform CoinMarketCap. Since the beginning of September, ADA gained a market share of nearly $2 billion. From a market cap of $15.63 billion on September 1, the market value reached $17.06 billion as of September 5. Leading to the hard fork, which is scheduled for September 22, chances are that the price is likely to rise further.
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