Cardano continues to face significant criticism
Founder of Cardan Charles Hoskinson recently shared a tweet showing Cardano’s 24-hour transaction volumes, while commenting, “Cardano uses Ghost Transaction: it’s super efficient.”
Cardano continues to face significant criticism, with one of the most common comparisons being to a “ghost chain.”
According to recent data from Messari, Cardano records the highest 24-hour adjusted trading volume. Adjusted transaction volume is still a good way to isolate only the largest transactions. Cardano outperformed major cryptocurrencies such as Bitcoin and Litecoin in adjusted trading volumes, with a 24-hour volume of $9.15 billion.
ADA price action and Vasil Hard Fork
The ADA price tested lows of $0.44 on May 27 before it rebounded. At the time of publication, ADA was trading up nearly 12% at $0.53, thus setting up to mark the third consecutive day of positive price action. The recent price rise represents a more than 33% increase from its lowest price this month of around $0.39.
Cardano, like Bitcoin but unlike Ethereum, has a finite supply limit, with only 45 billion ADA ever created during the coin’s existence. Currently, 33.75 billion ADA are in circulation, representing 75% of the maximum supply, and 34.39 billion ADA have been created so far, according to data from CoinMarketCap.
According to the latest weekly report by Cardano’s parent company, IOHK, the closed Vasil testnet has already been launched to assess its functionality with a select group of dApps and users. The Cardano team continues to work on consensus-specific enhancements in anticipation of the Vasil Hard Fork Combinator (HFC) event in June.
Vasil is expected to launch on Cardano’s testnet in early June. Additionally, the mainnet hard fork proposal deadline has been set for June 29.
Expectations continue to be in place for the hard fork combinator event, with the community speculating that Vasil might aid the influx of lending apps through the CIP-33 (Reference Scripts) meant to be introduced through the Vasil Hard Fork.
