- Cardano had a busy week leading up to the Valentine’s Day upgrade.
- ADA’s performance disappointed investors.
Cardano [ADA] released the latest edition of its weekly report on February 10, which highlighted notable network developments and updated statistics.
For example, the number of native tokens reached 7.72 million while the total number of transactions reached 60.9 million. In addition, the total number of projects created on the network exceeded 1200, while the total number of projects launched on Cardano remained at 116.
Check out the full report for more details on what the IOG dev team has been up to and learn about our development progress.👇#Cardano #blockchain $ADAhttps://t.co/vwfY0HSw4k
— Input Output (@InputOutputHK) February 10, 2023
How much is it 1,10,100 ADA worth today?
Another week full of excitement
Last week, in anticipation of her Valentine’s Day Upgrade, proposed to update SECP to upgrade Cardano’s mainnet and preproduction environment. The update will be released on February 11th and will be available on the mainnet on February 14th.
Last week, of Cardano The development teams also released GraphQL v.8.0.0, which is compatible with node versions 1.35.4 and 1.35.5.
In addition to the release of GraphQL v.8.0.0, the Adrestia team also worked on extending the multi-signature feature with delegation functionality to the Cardano wallet and DBLayer.
Additionally, the sidechains team released the EVM sidechain proof-of-concept testnet. With this new release, developers will be able to develop smart contracts and dApps, connect wallets, and test token transfers between test environments.
📢OUT NOW: Following the latest #sidechain toolkit announcement, the #EVM The public sidechain proof of concept testnet is now available! #Cardano
— Input Output (@InputOutputHK) February 7, 2023
In the meantime, the Hydra team has completed work on the Hydra V1 specification by updating charts and adding a section on iterations.
Cardano’s weekly report stated that the team plans to make the specification more accessible and an open standard.
Realistic or not, there you go ADA purchase cap in BTC terms
The ADA’s response was modest
While the last week has remained bullish for the Cardano ecosystem, so has the price of ADA, albeit negatively. According CoinMarketCapthe price of ADA has fallen over 10% in the past week and at the time of writing, it was trading at $0.3591 with a market cap of over $12.4 billion.
ADA’s performance on the metrics front was also disappointing. For example, ODAThe MVRV ratio has dropped significantly in recent days.
However, one-week price volatility picked up but could be attributed to the double-digit decline in ADA prices. However, the ADA remained a topic of debate as its social volume grew.