Cardano (ADA) is presently outdoing XRP in terms of market capitalization, according to CoinMarketCap data. Cardano is now the seventh largest cryptocurrency, with a market cap of $16.6 billion, in front of XRP’s market cap of $16 billion.
Cardano is gaining traction as a result of positive news about upcoming Vasil updates, exchange listings, and positive investor sentiment. Cardano was outshining the top ten cryptocurrencies in terms of 24-hour gains yesterday.
The asset’s trading interest is also reflected in a 30% increase in trading volumes, with 1.8 billion (1,891,419,122) ADA traded in the last 24 hours as per yesterday’s data from CoinMarketCap.
ADA is currently trading at $0.4867, with a 3% price drop in the last 24 hours.
Cardano’s Vasil upgrade
Cardano’s creator, Input Output, revealed on Friday that the Vasil update is scheduled to release on September 22. The date was also confirmed by ADA’s creator, Charles Hoskinson, which sparked enthusiasm in the community. ADA’s listing on Robinhood is another noteworthy event from the previous week.
The stock trading app Robinhood pledged support for ADA on Thursday. As the neighborhood processed the news of the upcoming Vasil release, which is expected to bring improvements to, Cardano’s ADA grew slightly to reach a high of $0.5 on September 4.
Plutus is anticipated to benefit from improvements that will let developers build more potent and effective blockchain-based applications.
The SPO and Dapp communities, according to IOG, have expressed optimism in being prepared for the hard fork on the planned date.
The ADA team added in a subsequent tweet that it is keeping an eye on all of the metrics, making it possible to announce an official launch date for the hard fork.
Founder Hoskinson stated in the video podcast that the release date corresponds with Bulgaria’s independence day, which is also the country of the late venerable member Vasil Dabov.