$ADA: Cardano Development Activity Hits New All-Time High Ahead of Vasil Hard Fork

Development activity on the Cardano ($ADA) network has hit a new all-time high as the team behind the project kept on working on it even as prices plunged amid a wider cryptocurrency market downturn.

According to on-chain analytics firm Santiment, Cardano development activity rose to 457 GitHub submissions per day just as the price of its native token ADA bounced after a large “realized profit/loss spike.”

According to CryptoCompare data, the price of Ada is down 10% over the last 24-hour period to now trade at $0.56. Earlier this month, the cryptocurrency dropped to a $0.40 low before it started recovering, partly thanks to whale transactions that shot up to a 4-month high after it bottomed out.

According to Binance Research data, GitHub contributions for Cardano have also been growing over time and now stand close to 225,000 in total. Over the past seven days, the number of contributions rose 0.26%, while the number of open issues rose 1.17% to 4,160.

As CryptoGlobe reported, over 5 million native assets have now been minted on top of the Cardano blockchain, doubling the figure seen at the end of last year.

According to data from pool.pm, there are currently 5,054,528 native assets on Cardano deployed across over 55,000 policies. Minting policies, according to Cardano’s documentation, are a “set of rules that govern the minting and burning of assets scoped under that policy.”

Native tokens themselves are bespoke assets that can be interacted with “right out of the box – without the use of smart contracts.” The network’s documentation notes native assets can “practically be treated as ada in every sense because the capability is already built-in.”

Development activity on the network has reached a new high ahead of the launch of the highly-anticipated Vasil hard fork, which is expected to see a public testnet go live on June 2, before the mainnet on June 29. The hard fork is expected to deliver a “massive performance improvement” to Cardano.


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