Avalanche (AVAX) and Tron (TRX) had increases of 7.43% and 6.23%, respectively
The overall capitalization of cryptocurrency markets has increased by around 3.25% in the past 24 hours, with technical indicators showing Bitcoin’s bottom indications and markets showing strength at the start of the week.
The price of Bitcoin reached intraday highs of $19,858 on July 4, setting the stage for the second day in a row of rising prices. Cardano’s ADA was up 4.13% to trade at $0.46 at the time of writing, a move that came amid a relief rally across the cryptocurrency markets. The deployment of the Vasil hard fork on the Cardano testnet, a network update anticipated to boost Cardano’s throughput, likewise contributed to the positive sentiment.
Cardano’s investment products also saw inflows over the past week, indicating that investors may have started to diversify their portfolios again.
The price of Ethereum (ETH) increased by almost 5% as the second week of inflows totaling nearly $5 million in the previous week ended an 11-week streak of outflows. XRP increased by 3.24%. Avalanche (AVAX) and Tron (TRX) had increases of 7.43% and 6.23%, respectively.
Meme cryptocurrencies Dogecoin (DOGE) and Shiba Inu (SHIB) both saw gains, climbing 3.74% and 3% respectively.
Metaverse token prices also increased, with Decentraland’s MANA gaining 7.70%, while The Sandbox’s SAND rose 12.35%.
Cardano’s Vasil hard fork hits testnet
On July 3, Cardano’s IOG announced that it had successfully forked the Cardano Testnet, which was an important step towards updating Vasil on the mainnet.
The Vasil Hard Fork remains the most awaited update for Cardano (ADA), and it is projected to include four Cardano Improvement Proposals (CIPs): CIP-31, CIP-32, CIP-33 and CIP-40.
As reported by U.Today, the changes will primarily redesign the data processes on Cardano (ADA) to make it more resource optimized and developer friendly. The updates will also accelerate the development of Plutus, a programming language explicitly designed for Cardano.
