Due to the long-awaited Cardano Vasil update, ADA is getting the attention of whales. While until recently one of the most popular creatures among whales was the Shiba Inu (SHIB), this sentiment seems to have changed slightly. In addition, Vasil on the Cardano network came to the fore again, with fifteen exchanges announcing that they would support the update. Here are the details…
Cardano (ADA) and its ecosystem are ready for big update
According to a recent post by IOG, many exchanges support the Vasil update. Binance, OKX, Gate.io, BitMart, Bitcub Official, Bitmark Exchange, and Litebiteu reported their readiness. In addition, the top 12 exchanges in terms of liquidity, MEXC, Bitrue, BKEX, WhiteBit and AAX are also included in this list. Apart from that, the platforms contribute about 33 percent of the total exchanges that have committed. Just two days ago, Cardano parent company IOG reported five exchanges confirming their readiness.
Last month, IOG stated that it will track three key factors that led to the launch of Cardano’s Vasil upgrade:
- The final node should make up 75 percent of the mainnet blocks. Last Vasil node version 1.35.3 was used in pre-production environment and Vasil devnet. It was released last month.
- Second, more than 25 exchanges also needed to be updated before the upgrade. This meant that the number would represent 80 percent of the liquidity.
- Top Cardano-based decentralized apps have updated to the new node version 1.35.3.
94 percent of mainnet blocks are ready for Vasil
In response to the ecosystem readiness, IOG released a report stating that 94 percent of mainnet blocks have already been created by the last Vasil node, version 1.35.3. This means that the node readiness metric has already been met. In addition, the Cardano dApp WingRiders, which joined the list days ago; Lending pond showed readiness by ticking test status in devnet, and pre-production settings along with Meld, DQuadrant, and Reuto.
Not SHIB – whales increase ADA activity
Meanwhile, ADA was among the top ten assets purchased by trading volume, according to Whalestats. Therefore, Cardano is under pressure to buy. Cardano founder Charles Hoskinson points to “macro factor dominance” for the ecosystem. He explains that this is more vital than ever. “Cardano has never been this strong before,” said Hoskinson, as we reported on cryptokoin.com.
Also, “many other projects are robust across the industry, but you don’t see that reflected in prices yet. You only see a sea of red. But macro factors always win,” he said. At the time of writing, Cardano is changing hands at $0.513, down 0.4% in the last 24 hours. Time will tell which levels we will see after the upgrade.
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