{"id":500753,"date":"2022-09-01T17:00:31","date_gmt":"2022-09-01T17:00:31","guid":{"rendered":"https:\/\/wncen.com\/?p=500753"},"modified":"2024-06-11T14:23:15","modified_gmt":"2024-06-11T14:23:15","slug":"iog-says-cardano-vasil-hard-fork-is-almost-here-but-what-is-ada-doing","status":"publish","type":"post","link":"https:\/\/wncen.com\/news\/cardano\/iog-says-cardano-vasil-hard-fork-is-almost-here-but-what-is-ada-doing\/","title":{"rendered":"IOG Says Cardano Vasil Hard Fork Is Almost Here, But What Is ADA Doing?"},"content":{"rendered":"

With each passing day, Cardano inches closer to one of its most important upgrades yet, the Vasil Hard Fork. IOG, the developer behind the Cardano network, had outlined three important milestones that the network needed to reach for the hard fork to be triggered. With the first of the three metrics already met at this time, the upgrade is closer than it has ever been, as confirmed by the developer.<\/p>\n

Nearing Cardano Hard Fork<\/h2>\n

When the developer had previously confirmed that there were no longer any bugs in the Vasil hard fork, it had moved towards fulfilling the requirements for the upgrade to be completed. The first of these requirements was that at least 75% of all SPOs had upgraded to the final node version. As of the time of this writing, the team confirmed that more than 80% of all mainnet blocks are now being produced by Vasil nodes.<\/p>\n

Related Reading: Bearish Indicator: Bitcoin Short Exposure Surge To New All-Time High<\/a><\/strong><\/em><\/div>\n

Second of the metrics that needed to be hit was that the top 10 of the top DApps by TVL on the Cardano network will have updated to the Vasil-supported nodes. A Twitter announcement<\/a> confirmed that more than 70% of DApps have now confirmed successful pre-production testing.\u00a0<\/span><\/p>\n

The last of the requirements was that at least 25 exchanges which represented about 80% of all ADA liquidity, will have upgraded to support the network post-hard fork. This is the last step that remains for the hard fork to be triggered.<\/p>\n

\"Cardano<\/p>\n

ADA price dumps to $0.45 | Source: ADAUSD on TradingView.com<\/a><\/pre>\n

IOG confirmed<\/a> that 2 crypto exchanges are fully ready for the hard fork, with at least another 27 exchanges in the process of integrating. With only this metric left to hit and 5 of these exchanges said to be the top 5 exchanges for liquidity, the network is now in its final stages of implementing the Vasil upgrade.<\/p>\n

What Is ADA Doing?<\/h2>\n

As with anything, the price of Cardano\u2019s native token ADA is usually affected by such an important update. Especially given the fact that the community has been waiting on the completion of the upgrade for more than two months now.<\/p>\n

However, unlike in previous times, the ADA price has not been as responsive to the news as expected. The digital asset continues to cling tightly to the $0.44 level without any significant movement up or down. It is also trading well below the 50-day moving average, triggering bearish sentiment among investors.<\/p>\n

Related Reading: Altcoins Outperform Bitcoin In August Rollercoaster<\/a><\/strong><\/em><\/div>\n

With most of the requirements already completed, it is likely that the Cardano hard fork will be completed within the next two weeks. But with the price of ADA not seeing any significant movement at this point, large upward movements are not expected.<\/p>\n

Featured image from Analytics Insight, chart from TradingView.com<\/pre>\n

Follow <\/i><\/b>Best Owie on Twitter<\/i><\/b><\/a> for market insights, updates, and the occasional funny tweet\u2026<\/i><\/b><\/span><\/p>\n","protected":false},"excerpt":{"rendered":"

With each passing day, Cardano inches closer to one of its most important upgrades yet, the Vasil Hard Fork. IOG, the developer behind the Cardano network, had outlined three important milestones that the network needed to reach for the hard fork to be triggered. With the first of the three metrics already met at this time, the upgrade is closer than it has ever been, as confirmed by the developer. Nearing Cardano Hard Fork When the developer had previously confirmed that there were no longer any bugs in the Vasil hard fork, it had moved towards fulfilling the requirements for the upgrade to be completed. The first of these requirements was that at least 75% of all SPOs had upgraded to the final node version. As of the time of this writing, the team confirmed that more than 80% of all mainnet blocks are now being produced by Vasil nodes. Related Reading: Bearish Indicator: Bitcoin Short Exposure Surge To New All-Time High Second of the metrics that needed to be hit was that the top 10 of the top DApps by TVL on the Cardano network will have updated to the Vasil-supported nodes. A Twitter announcement confirmed that more than 70% of DApps have now confirmed successful pre-production testing.\u00a0 The last of the requirements was that at least 25 exchanges which represented about 80% of all ADA liquidity, will have upgraded to support the network post-hard fork. This is the last step that remains for the hard fork to be triggered. ADA price dumps to $0.45 | Source: ADAUSD on TradingView.com IOG confirmed that 2 crypto exchanges are fully ready for the hard fork, with at least another 27 exchanges in the process of integrating. With only this metric left to hit and 5 of these exchanges said to be the top 5 exchanges for liquidity, the network is now in its final stages of implementing the Vasil upgrade. What Is ADA Doing? As with anything, the price of Cardano\u2019s native token ADA is usually affected by such an important update. Especially given the fact that the community has been waiting on the completion of the upgrade for more than two months now. However, unlike in previous times, the ADA price has not been as responsive to the news as expected. The digital asset continues to cling tightly to the $0.44 level without any significant movement up or down. It is also trading well below the 50-day moving average, triggering bearish sentiment among investors. Related Reading: Altcoins Outperform Bitcoin In August Rollercoaster With most of the requirements already completed, it is likely that the Cardano hard fork will be completed within the next two weeks. But with the price of ADA not seeing any significant movement at this point, large upward movements are not expected. Featured image from Analytics Insight, chart from TradingView.com Follow Best Owie on Twitter for market insights, updates, and the occasional funny tweet\u2026<\/p>\n","protected":false},"author":541,"featured_media":500759,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[16896],"tags":[12333,84005,14643,79508,12332,84158,86142],"class_list":["post-500753","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-cardano","tag-ada","tag-ada-price","tag-adausd","tag-adausdt","tag-cardano","tag-cardano-hard-fork","tag-vasil-hard-fork"],"acf":[],"yoast_head":"\nIOG Says Cardano Vasil Hard Fork Is Almost Here, But What Is ADA Doing?<\/title>\n<meta name=\"description\" content=\"With each passing day, Cardano inches closer to one of its most important upgrades yet, the Vasil Hard Fork. 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Best is a highly skilled professional with a track record of producing engaging and informative content. With a keen eye for detail and a passion for accuracy, Best is committed to ensuring that each article published meets the highest standards of quality. Best has over six years of experience in the crypto industry and has overseen the creation and publishing of thousands of articles over the years. Best is always abreast of everything that is going on in the crypto industry in order to create and curate the most relevant content for readers. This shines through in Best\u2019s publications, which are always clear and concise, enabling easy reading and understanding for all. Best is also an avid learner and advocate for new technology. This has seen Best dive into topics in areas such as decentralized finance (DeFi), non-fungible tokens (NFTs), Layer 2 blockchains, etc. In addition to this, Best is a vocal member of the crypto community across various social media platforms such as X and Reddit. Best\u2019s work garners tens of thousands of readers monthly, who rely on the information in these publications to keep up-to-date with everything happening in the crypto community. Best\u2019s articles explore breaking news, intricate systems such as yield farming, liquidity pools, and other decentralized finance (DeFi) systems. This is because Best understands the importance of information to gaining financial freedom and believes that everyone should have access to this information. Best also believes in leveraging the blockchain for philanthropy to create the most positive social impact. This involves work with charitable organizations focused on financial literacy and education. With each article, Best lends a voice to important issues such as a more financially inclusive future, transparent systems for growth and development, and technology that is not self-serving but one that serves all of humanity. When not curating engaging content, Best can be found reading a book with a cup of hot chocolate, enjoying a Netflix series, or exploring the outdoors with Green - the world\u2019s most quiet and well-behaved Husky. Best\u2019s interests also span other industries such as art, finance, and security, attending seminars and conferences in not just the crypto industry but other industries as well. As an animal lover, Best is also involved with charities for animals, local shelters, and rescues. Best is also involved in local events that promote inclusivity, such as being a prominent member of hiking clubs and a cycling club, as well as being a part of a very happy group of animal lovers. Best is a true professional in every sense of the word, with an exceptional dedication to producing high-quality work. This shines through in Best's work on and off the clock. These include advocating for inclusive crypto education for all, the impact of financial illiteracy, and the benefits of adopting new technologies such as cryptocurrencies. Best\u2019s prolific career in the media industry is a testament of how hard work and dedication pays.","sameAs":["https:\/\/www.linkedin.com\/in\/best-owie-41a150178\/","https:\/\/x.com\/https:\/\/twitter.com\/BestOwie"],"url":"https:\/\/wncen.com\/author\/owiebest\/"}]}},"parsely":{"version":"1.1.0","meta":{"@context":"https:\/\/schema.org","@type":"NewsArticle","headline":"IOG Says Cardano Vasil Hard Fork Is Almost Here, But What Is ADA Doing?","url":"http:\/\/wncen.com\/news\/cardano\/iog-says-cardano-vasil-hard-fork-is-almost-here-but-what-is-ada-doing\/","mainEntityOfPage":{"@type":"WebPage","@id":"http:\/\/wncen.com\/news\/cardano\/iog-says-cardano-vasil-hard-fork-is-almost-here-but-what-is-ada-doing\/"},"thumbnailUrl":"https:\/\/wncen.com\/wp-content\/uploads\/2022\/09\/Cardano.jpeg?resize=200%2C200","image":{"@type":"ImageObject","url":"https:\/\/wncen.com\/wp-content\/uploads\/2022\/09\/Cardano.jpeg?fit=900%2C500"},"articleSection":"Cardano","author":[{"@type":"Person","name":"Best Owie"}],"creator":["Best Owie"],"publisher":{"@type":"Organization","name":"NewsBTC","logo":"https:\/\/wncen.com\/wp-content\/uploads\/2020\/06\/cropped-cropped-cropped-favicon.png?w=32"},"keywords":["ada","ada price","adausd","adausdt","cardano","cardano hard fork","vasil hard fork"],"dateCreated":"2022-09-01T17:00:31Z","datePublished":"2022-09-01T17:00:31Z","dateModified":"2024-06-11T14:23:15Z"},"rendered":"<script type=\"application\/ld+json\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@type\":\"NewsArticle\",\"headline\":\"IOG Says Cardano Vasil Hard Fork Is Almost Here, But What Is ADA Doing?\",\"url\":\"http:\\\/\\\/wncen.com\\\/news\\\/cardano\\\/iog-says-cardano-vasil-hard-fork-is-almost-here-but-what-is-ada-doing\\\/\",\"mainEntityOfPage\":{\"@type\":\"WebPage\",\"@id\":\"http:\\\/\\\/wncen.com\\\/news\\\/cardano\\\/iog-says-cardano-vasil-hard-fork-is-almost-here-but-what-is-ada-doing\\\/\"},\"thumbnailUrl\":\"https:\\\/\\\/wncen.com\\\/wp-content\\\/uploads\\\/2022\\\/09\\\/Cardano.jpeg?resize=200%2C200\",\"image\":{\"@type\":\"ImageObject\",\"url\":\"https:\\\/\\\/wncen.com\\\/wp-content\\\/uploads\\\/2022\\\/09\\\/Cardano.jpeg?fit=900%2C500\"},\"articleSection\":\"Cardano\",\"author\":[{\"@type\":\"Person\",\"name\":\"Best Owie\"}],\"creator\":[\"Best Owie\"],\"publisher\":{\"@type\":\"Organization\",\"name\":\"NewsBTC\",\"logo\":\"https:\\\/\\\/wncen.com\\\/wp-content\\\/uploads\\\/2020\\\/06\\\/cropped-cropped-cropped-favicon.png?w=32\"},\"keywords\":[\"ada\",\"ada price\",\"adausd\",\"adausdt\",\"cardano\",\"cardano hard fork\",\"vasil hard fork\"],\"dateCreated\":\"2022-09-01T17:00:31Z\",\"datePublished\":\"2022-09-01T17:00:31Z\",\"dateModified\":\"2024-06-11T14:23:15Z\"}<\/script>","tracker_url":"https:\/\/cdn.parsely.com\/keys\/wncen.com\/p.js"},"jetpack_sharing_enabled":true,"jetpack_featured_media_url":"https:\/\/wncen.com\/wp-content\/uploads\/2022\/09\/Cardano.jpeg?fit=900%2C500","amp_enabled":true,"_links":{"self":[{"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/posts\/500753","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/users\/541"}],"replies":[{"embeddable":true,"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/comments?post=500753"}],"version-history":[{"count":0,"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/posts\/500753\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/media\/500759"}],"wp:attachment":[{"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/media?parent=500753"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/categories?post=500753"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/tags?post=500753"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}