Cardano (ADA) Back in Top-10 of Shelley Progress Announcements

News
Sun, 05/31/2020 - 14:39
Vladislav Sopov
In three days, Cardano (ADA) has surged almost 50% and continues to rise. Analysts are sure that the rally is nowhere near its end, which doesn’t involve speculation.
Cover image via stock.adobe.com
Contents

Cardano (ADA) is the undisputed top performer among all crypto behemoths. Its price has surged 18.7% in the 24 hours and its market capitalization surpassed the $2.5B mark.

Welcome Back to The Top-10

During the Cardano (ADA) rally, the cryptocurrency surpassed Tezos (XTZ) in terms of market capitalization. Currently, ADA is ranked 10 caps list of the crypto market.

Image by Coingecko

This achievement was celebrated by Charles Hoskinson, Founder of IOHK, the development and engineering company behind Cardano's blockchain progress. 

Image by Twitter

This price rally may be attributed to the optimistic announcements regarding the progress from the Shelley testing. Shelley is the next stage for the Cardano (ADA) platform development, which is associated as the ultimate level of decentralization.

Now Shelley is intensifying its testing within the F&F Testnet. Recently Mr. Hoskinson mocked all of the Cardano (ADA) skeptics who doubted the launch of smart contracts in 2020.

In his exclusive interview with U.Today, IOHK's Founder highlighted that with the Shelley mainnet launched, the platform will be unmatched 'from every dimension'.

Gavin Andresen May be Wrong About Altcoins

Top cryptocurrency analysts are sure that Cardano's brilliant price rally will continue. Seasoned trader Michael van de Poppe indicated that breaking above the next resistance level may bring ADA above its psychological level of $0.1.

Image via Twitter

It should be noted that Gavin Andresen, an original member of the Bitcoin Foundation, recently announced that he thinks that altcoin prices are driven only by speculations.

It looks like last week challenged these estimations. Apart from Cardano (ADA), IOTA (MIOTA) jumped 15% on the news of its Hornet node software update.

The price of Ethereum Classic (ETC) also went through the roof on the expectations of its Phoenix hardfork.

About the author

Blockchain Analyst & Writer with scientific background. 5+ years in IT-analytics, 2+ years in blockchain.

Worked in independent analysis (Crypto Briefing) as well as in start-ups (Swap.online, Monoreto, Attic Lab etc.)

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