The price of ADA, the native cryptocurrency of the Cardano blockchain, saw a 13% increase last week driven by the upcoming activation of the Vasil hard fork and increased transactional activity on the network.
At the start of the week, the price of the asset soared 28%.
Yesterday, non-profit organization Cardano Foundation revealed ecosystem indicators for May. According to these, the monthly number of transactions in the project network increased by 7.74% to 42.5 million, the supply of ADA jumped by 8.64% to 5.03 million, and the total number of wallets reached 3.36 million.
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One of Cardano's developers announced in mid-April the activation of the Vasil hard fork was scheduled for next June 29. However, the implementation of the upgrade in the testnet will take place at the beginning of the month.
The hard fork will reduce transaction costs in Cardano and improve network security. In addition, it will also facilitate interaction with smart contracts. You also can buy Cardano ADA Crypto with CoinSpot.