Number of Active Addresses on Cardano Network Drops to One-Year Low, or Vasil Hardfork Is Not as Interesting as You Think

📉 On this #bearmarket slide, #Cardano is seeing the least amount of unique addresses interacting on its network in a year. On top of this, sentiment on social platforms has fallen to a 4-month low. When $ADA spikes again, #FOMO should return quickly. https://t.co/u3oD2XkFGI pic.twitter.com/wz3XWR9gtC

However, the sentiment of the ADA community on social media could quickly reverse if investors FOMO, the behavior analytics platform said.

“When ADA goes up again, FOMO should come back quickly.”

interest in ADA Cool down before Vasil hardfork.

The reduced number of unique addresses was the opposite of the much-loved Vasil hardfork. This served as a catalyst for the token’s price hike earlier this month. However, as investor interest in ADA declined, its current trading price dropped to just $0.48, a drop of more than 3% over the past seven days.

It is expected that when the Vasil hardfork is deployed in the second half of 2022, it may serve as a catalyst for further rallying as well.

Hardfork is critical to the Cardano ecosystem, especially after integrating smart contract functionality. the ability to scale and Cardano’s Blockchain Performance

Delay in launching network upgrades

Charles Hoskinson, founder Cardano Described the delay in the release of the upgrade saying:

“Effective code completion means you might just flip a switch and get away. And some projects do that. But what happened after the fall of Terra (LUNA). said we should measure three times and cut considering the nature of things.”

However, Cardona is the 3rd most phishing crypto project in the world, attracting 191 attacks within 90 days, with attacks often heading from investments to crypto exchanges.

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