In a Twitter post, on 21 September, Input Output Hong Kong(IOHK) confirmed that Cardano is ready for the upgrade. According to the Cardano team, the upgrade is currently active due to the simultaneous achievement of all three “critical mass indications.”

According to the tweet, 13 cryptocurrency exchanges, or more than 87% of Cardano’s (ADA) liquidity, have certified their readiness for the hard fork over the past 48 hours.

Over 98% of mainnet blocks are being created by updated Vasil nodes, according to the Cardano Foundation. Also, the top decentralized apps (DApps) on the blockchain have certified their readiness, meeting all three criteria required for the upgrade.

When it goes online, theupgrade would be the blockchain’s most important development since the Alonzo hard fork in September of last year, which enabled smart contracts.

The goal of this improvement is to improve smart contracts while lowering expenses and boosting network capacity. Faster block production is one of the most significant improvements brought about by the fork, according to IOHK.

In addition to what the upgrade offers, the network developed a large number of Dapps that span Decentralized Autonomous Organisations (DAOs) and Decentralized Finance (DeFi).

All of this impacts the ecosystem since more users will be drawn to it. As a result of its increased utility, this may have a favorable impact on the movement of ADA’s price.

ADA closed trade on 21 Sept. (yesterday) with a loss of less than 1%. It opened at $0.442 reaching as high as $0.464 in the same trading period before closing at $0.04389. As of the time of writing, the trade opened at $0.4388 and was already boasting over a 2% gain compared to yesterday.

On the daily chart, the price movement