While the total value of the crypto money market was pulled below $ 950 billion, Bitcoin was worth up to $ 20,800, and is priced at $22,578 at the time of writing. Cardano, on the other hand, is positively differentiated from the market today.

Cardano (ADA) price has increased by close to 10% in the last 24 hours, reaching as high as $ 0.51. Meanwhile, its market capitalization has increased by close to $2 billion in the same time frame. The exits from the Bitcoin and Ethereum markets, which dominated the market, were remarkable. Bitcoin (BTC) is down 7 percent in the last 24 hours, while Ethereum is currently down 2.5 percent after recovering a bit during the day.

While Cardano was in high demand until the Alonzo update last year, its value increased to $ 3.1. The crypto money, which fell after this record price level, fell below $ 0.4 last month.

In the current situation, the Cardano network, which is prepared for a new hard fork, continues to be positively differentiated from the market, albeit for a short time. This time, demand for the crypto asset remains constrained as it coincides with a period of heavy selling pressure across the markets. The Cardano network is expected to perform the Vasil Hard Fork this month, which will enhance the network's smart contracts feature and add scalability to the network.

Charles Hoskinson

While talking about the benefits of Vasil Hard Fork in a recent interview, Cardano founder Charles Hoskinson emphasized that Cardano has grown exponentially in preparation for the actual competition.

Before Vasil Hard Fork, which is on the agenda, two important announcements came from Cardano's developer company, Input Output Global. One was the introduction of a new wallet called Lace, while the other was the launch of an Ethereum Virtual Machine (EVM).

The new cryptocurrency wallet Lace is thought to contribute significantly to the adoption of the Cardano network with its ease of use and advanced features. Through the EVM, developers will be able to transfer their existing applications to the Cardano network. In this way, EVM is thought to be an extremely important tool to help expand the Cardano ecosystem in the future.