Home Markets Notice to Cardano investors! The ADA rescue team isn’t too far away

Notice to Cardano investors! The ADA rescue team isn’t too far away

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Notice to Cardano investors!  The ADA rescue team isn’t too far away

The gimbal [ADA] roller coaster this week reached another peak on August 27 after the last update on Vasil adoption. According pool tool, 69% of Cardano’s staking pool operator nodes have adopted the latest v1.35.3. However, the community is still waiting for at least 6% more to start implementing Vasil.

Interestingly, the week started well for Cardano until the crypto markets fell after Powell’s speech. Since then, there have been red flashes across major crypto assets over the past day.

ADA itself took a big hit after being one of the best performing assets in the market during this week. It is currently trading at $0.43 after falling 8.31% over the past day.

Cardano here, Cardano there

In light of Vasil’s adoption, there has been a slight increase in Cardano’s social media trends. According Lunar CrushCardano was the “coin of the day” on August 26 given its massive performance lately.

The data also suggests that Cardano’s social dominance jumped 55.56% over the past month. More so, social mentions and social contributors for Cardano increased by 23.63% and 26.04% respectively during the reporting period.

Source: Lunar Crush

Unsurprisingly, Input Output was also seen excited about Vasil’s launch. To raise awareness, they launched a to place for the latest updates from Vasil for the community.

And now for ADA?

The latest downward trend in the ADA token cannot be attributed to network performance given the market conditions. In the chart below, we can see that ADA trading was a lucrative trade for investors until at least mid-August.

While the token value fell sharply on August 19, earnings also fell. This trend has continued until today, with the realized market value (MVRV) standing at -13.34% at press time.

Source: Santiment

ADA investors rejoice?

Investors in the Cardano community can be assured of some relief in the coming days as Fed tensions ease. It is disconcerting to see some reactions in the Twitter space as they condemn Fed leader Powell for his last Remarks. It is simply a matter of “when” rather than “if” for ADA prices to rise in the coming weeks.

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