Opening long position on Cardano [ADA] might be your biggest…

The week is off to a great start for the Cardano [ADA] community thanks to the news of Vasil hardfork adoption.

According to the analytic platform Pool Tool, 47% of Cardano’s staking pool operator nodes have adopted the latest v1.35.3.

Well, this still leaves 41% of the SPO nodes on the earlier version. For the Vasil implementation, 75% of the nodes must be on the latest version.

Notably, Cardano founder Charles Hoskinson has been assuring the community about the code which has been “thoroughly tested for months.”

He even claimed in one of his tweets that “the code that was an issue on the testnet has been removed.”

We of course could as a community delay the launch of Vasil for a few months to retest code that's already been tested a dozen times and is already running. Is that worth it to all the DApp developers who have been waiting for this update for almost a year now?

— Charles Hoskinson (@IOHK_Charles) August 19, 2022

Keep building on

There is more coming out of Cardano this week as seen in its latest ‘Weekly Development Report.’

The report confirmed the first Marlowe contracts running on Vasil testnet. Daedalus team released wallet versions for new testing and production environments.

Interestingly, the statistical update claimed that 93 projects were already running on Cardano with 1065 currently being built on it.

Cardano also posted an update on its total value locked in DeFi. The current TVL stands at a little over $83 million with a minor dip in the past 24 hours.

MiniSwap DEX was at the receiving end of one of the largest declines in the Cardano ecosystem at 17%.

But it still continues to dominate Cardano’s DeFi with a dominance of 52.2%.

Source: Cardano Daily

Meanwhile, Cardano has been added to the Kraken Exchange as a collateral currency on its futures platform.

This will allow ADA to have exposure to many crypto futures contracts in the future.

Where thou art ADA?

While the week exceeded expectations for large crowds. The token, at press time, was down by over 20% in the past week. But it had a modest uptick in the past 24 hours.

Well, at the time of writing, ADA was trading at $0.45 after receiving a 1% surge according to data from CoinMarketCap.

Kanav is a journalist at AMBCrypto. He has a Masters in Media and International Conflict and is interested in areas of digital society, crypto developments in the political sphere and the socio-cultural impact of a crypto-society.