Cardano ($ADA) has seen its social activity surge to a new all-time high after the network successfully completed its Vasil hard fork, which brought to the network faster block creation, and upgrades Plutus smart contracts for increased efficiency while allowing decentralized applications to deploy and run at lower costs.
According to crypto social intelligence platform LunarCrush, Cardano’s social mentions measured daily hit 52,470, while the cryptocurrency’s total social activity reached a new all-time high.
The Cardano Foundation and the Cardano ecosystem community, as well as all $ADA holders, celebrated the successful Vasil hard fork on the network’s mainnet, which honors Cardano ambassador Vasil Stoyanov Davov — who sadly passed away in his apartment in Plovdiv, Bulgaria on 3 December 2021 after a lengthy battle with pulmonary embolism.
Tim Harison, VP of Community & Ecosystem at Input Output Global (IOG), the blockchain company behind Cardano’s R&D, has said the hard fork “significantly improves and enhances Cardano’s capabilities,” with “new Plutus v2 features and enhancements” allowing “DApp developers to create novel and exciting experiences” and diffusion pipelining enabling “greater throughput and network capacity.”
As reported, popular cryptocurrency analyst Michaël van de Poppe has recently suggested that Cardano’s hard fork presents “massive opportunities” for $ADA.
Institutional investor bets on ADA quadrupled earlier this month at a time in which inflows to short Bitcoin products kept on rising significantly. Cardano led inflows last week with $400,000 invested in products offering exposure to the cryptocurrency, in contrast to the $100,000 of inflows seen the week before.
Year-to-date, Cardano-based investment products have seen $14.1 million in inflows. Other altcoins, including Solana ($SOL) and $XRP last week saw inflows of $300,000 and $100,000 respectively, while multi-asset investment products saw inflows of $200,000.
According to CryptoCompare data, $ADA is at the time of writing trading at around $0.45, down 0.4% over the last 24-hour period, despite the hard fork. In contrast, the flagship cryptocurrency Bitcoin is down by over 2%, while ETH is up 0.5%.
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