Wednesday, November 30, 2022
HomeCrypto NewsMarketCardano Positive Sentiment At Record Highs Along With Profit Taking

Cardano Positive Sentiment At Record Highs Along With Profit Taking

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Cardano sees a fresh wave of positive sentiment as ADA sees double-digit gains in the last three weeks.

Sentiment Feed, in a tweet on Tuesday, reveals that the Cardano network is seeing a fresh wave of positive sentiment as ADA, the native token, posted 22% gains over the last three weeks. Notably, the positive sentiment is at its highest since April, while profit taking is at its highest since March.

“Cardano sentiment is rather positive at the moment, and prices are +22% in the past three weeks. The ratio of on-chain transactions as profit taking vs. selling at a loss is at its highest level of profit taking since the final week of March,” Santiment tweeted.

It is worth noting that the Cardano community is very excited at the moment as the long-anticipated Vasil hard fork edges closer. Input Output Global (IOG) founder Charles Hoskinson, the head of the company behind the network at the beginning of the month, noted that developers are currently in the final stages of testing. Notably, on Friday, developers decided on the last node version to use for the long-awaited upgrade.

Meanwhile, since the latest delay in July, developers have yet to give a fixed or tentative date for the upgrade. However, as reported by The Crypto Basic on Saturday, IOG, when asked about a possible upgrade date, replied that the priority for the team is getting things right.

Notably, the Cardano network has built a reputation for taking things slowly over the years. While it has earned them some critics, it has also ensured they have had the last laugh.

The Vasil hard fork, named after Vasil Dabov, a respected mathematician and long-standing member of the Cardano community who passed on in December, promises to usher in a wave of dApps and improved smart contract functionality. ADA is trading at the $0.5537 price point, down 0.97% in the last 24 hours but up 3.92% in the previous seven days.

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Mark Brennan
Mark Brennan
Mark Brennan has been active in the cryptocurrency sector since 2014. His love and passion for the nascent industry drove him to develop interest in writing about important developments and updates about cryptocurrencies and blockchain. Brennan, who holds a Masters degree in Business Administration, learned about the potential of blockchain technology. Aside from crypto journalism, Brennan runs an education center, where he educates people about the asset class.

Disclaimer: The content is for informational purposes only, may include the author's personal opinion, and does not necessarily reflect the opinion of TheCryptoBasic. All Financial investments, including crypto, carry significant risk, so always do your complete research before investing. Never invest money you cannot afford to lose; the author or the publication does not hold any responsibility for your financial loss or gains.

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