The Cardano [ADA] rollercoaster this week has reached another high on 27 August after the latest update on Vasil adoption. According to Pool Tool, 69% of Cardano’s staking pool operator nodes have adopted the latest v1.35.3. However, the community is still waiting for at least 6% more to kickstart Vasil implementation.

Interestingly, the week got off to a great start for Cardano until the crypto markets took a downslide after Powell’s speech. Since then, there have been red flashes across major crypto assets in the past day.

ADA itself has taken a big hit after being one of the top performing assets in the market during this week. It is currently trading at $0.43 after a downturn of 8.31% in the past day.

Cardano here, Cardano there

In light of the Vasil adoption, there has been an uptick on Cardano’s social trends on social media. According to LunarCrush, Cardano was the “Coin of the day” on 26 August considering its massive performance lately.

Data also suggested that Cardano’s social dominance surged by 55.56% over the past month. More so, social mentions and social contributors for Cardano were up by 23.63% and 26.04% respectively during the period in review.

Unsurprisingly, Input Output was also seen excited for the Vasil launch. For the purpose of awareness, they have launched a site for latest Vasil updates for the community.

The #Vasil upgrade is the most significant for #Cardano ever. And the entire technical community is working hard to deliver it.

Want to keep track of progress? There’s a now a page for that.

We’ll keep it updated regularly as we get ever closerhttps://t.co/AlIPPzrhWW pic.twitter.com/Qic6ndyaxJ

— Input Output (@InputOutputHK) August 26, 2022

What now for ADA?

The latest downtrend of the ADA token cannot be blamed on the network’s performance given the market conditions. From the chart below, we can see that ADA trading has been a lucrative trade for investors until at least mid-August.

As the token value took a sharp dip on 19 August, so did the profits. This trend has continued till today as the Market Value Realized Value (MVRV) stood at -13.34% at press time.

ADA investors rejoice?

Investors in the Cardano community can be assured of some relief in the coming days as the Fed tensions calm down. It is baffling to see some reactions in the Twitter space as they condemn Fed executive Powell for his latest remarks. It is simple a matter of ‘when’ rather than ‘if’ for ADA prices to rise in the coming weeks.

Angel Baby Hit Squad is a new cross-chain NFT project, designed to connect the well-known blockchains, Ethereum and Cardano. The new release consists of 11,111 unique angels, generated completely at random using a combination of up to 183 traits.

Ethereum is one of the most successful blockchains in the world right now. Ether is the second most valuable cryptocurrency after Bitcoin, and analysts have cited it as a platform with even greater potential. As importantly, its status as a decentralized and open-source blockchain has made it an attractive space for all sorts of development, and it has been of particular interest to creators and community members interested in NFTs.

Read more: AltPress and Wicked Craniums team up for first-ever NFT covers

Even so, Ethereum is not without its challenges. According to Angel Baby Hit Squad’s mission statement, platforms such as Cardano offer additional value that can be of great interest to the community.

“NFTs have been exponentially increasing in popularity over the past year due to their high-value sales on platforms such as OpenSea, Foundation, Sotheby’s and Christie’s,” they write. “Most of the NFT market so far has been concentrated on the Ethereum (ETH) network, and there has subsequently been an enormous growth in communities surrounding these projects. 

“The Ethereum NFT space faces challenges inherent to its blockchain in the form of high gas fees: fees paid out to Ethereum miners to process transactions on chain. This circumstance often leads to a prohibitively expensive user experience. Other blockchains such as Cardano offer a more scalable value-proposition for NFTs by providing affordable options for minting, trading and distribution of digital assets, all necessary processes in the NFT space.”

Read more: These 12 platforms are the best places to buy and sell NFT art pieces

Angel Baby Hit Squad sees Cardano as a valuable platform in its own right. Cardano is also open-source and decentralized. The blockchain has a unique potential in promoting accessibility and additionally has the added benefit of prioritizing green solutions to the energy consumption of Bitcoin mining.

“Our mission with this project is to open the door for the Ethereum NFT community into the Cardano ecosystem,” Angel Baby Hit Squad continues. “We believe in the technology that Cardano has built in terms of its scalability (low transaction fees and high throughput potential), security and decentralization through Proof-of-Stake consensus and want to introduce the ETH community to our technology. These three attributes that the Cardano blockchain offer a long-term platform in which technology can and should be built upon.

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“However, we recognize the popularity of the Ethereum network and the early adoption of the Cardano network and are aiming to broaden the category and use the opportunity to showcase the NFT experience on the Cardano blockchain. By adding ADA utility through airdrops, we expose the Ethereum community to another blockchain, giving them an NFT starter pack made by sought-after artists in the Cardano NFT scene in which they can use to explore and taste the sophisticated tech that Cardano provides.

“In doing so, we are also minimizing friction between the two communities and letting the collector decide which chain is a much better solution to operate on. We believe that the Cardano blockchain sells itself in this regard of being the blockchain of choice for transacting NFTs.”

Read more: Good Charlotte and Clay Mates tease exclusive Halloween NFT collection

Angel Baby Hit Squad seeks to build connections between the two chains, allowing users to make their own decisions about which one is best for them. Ultimately, their goal is to push the envelope in terms of cross-chain adoption.

DISCLAIMER: THIS IS NOT FINANCIAL ADVICE. Please do your own research and consult with professionals when making any investments.