This may seem positive for ADA prices
Cardan social feeling is at levels last seen in February as the crypto market persists in its bearish state. As euphoria marks the highs and extreme fear comes to the lows, investor and trader sentiment is a key factor driving the market.
In a recent tweet, analytics firm Santiment wrote, “On this bear market 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.”
This may look positive for ADA prices, as negative sentiment suggests a higher probability of price bottoms. Positive sentiment, on the other hand, presents a greater likelihood of price tops.
ADA experienced lackluster price action in February as its price steadily fell to a temporary bottom at $0.74, from which point it then consolidated. Its social sentiment changed for the worse due to underwhelming trading. A month later, at the beginning of April, Cardano rose to its high of $1.24.
Cardano could therefore soon find a price floor from which it could climb if history is any guide. The $0.52 and $0.92 levels, however, continue to be hurdles for bulls to overcome.
At the time of publication, ADA was changing hands at $0.49, down 1.77% in the last 24 hours, per CoinMarketCap data.
Cardano’s Vasil is progressing
Romain PellerinIOHK CTO, says that currently 50% of stake pool operators have upgraded to the recently released Cardano Vasil Node 1.35.0.
He tweeted, “We reached 50% of stake controlled by 1.35.0 nodes on the Cardano testnet, 25% more to go.”
Over the weekend, Cardano’s IOHK shared the positive news it had successfully released and marked Cardano node 1.35.0, which it says will be the final candidate for the Vasil mainnet release. . According to IOHK, the testnet upgrade proposal will be submitted as soon as 75% of stake pool operators join.
As reported by U.Today, Vasil Hard Fork’s mainnet launch is now anticipated to occur in late July.
