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

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Sun, 05/31/2020 - 14:39
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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.
Cardano (ADA) Back in Top-10 of Shelley Progress Announcements
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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.

Cardano (ADA) back in top-10
Image by Coingecko

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

Cardano (ADA) leader Charles Hoskinson celebrates ADA revisits top-10
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.

CryptoMichael is very optimisic about ADA rally
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.

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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.)

2,500,000 Ethers Locked in Ethereum 2.0 Deposit Contract as ETH Rejected From $1,250

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Fri, 01/15/2021 - 18:02
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Vladislav Sopov
Ethereum 2.0 enthusiasts deposited whopping sum in its contract launched six weeks ago
2,500,000 Ethers Locked in Ethereum 2.0 Deposit Contract as ETH Rejected From $1,250
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While crypto markets are trying to get out of the most painful correction in this bullish cycle, the Ethereum 2.0 deposit contract accomplishes another crucial milestone.

ETH2 deposit contract surpasses $3,000,000,000 level

According to leading Ethereum network observer Etherscan, the Ethereum 2.0 deposit contract (0x00000000219ab540356cBB839Cbe05303d7705Fa) allocated more than 2.5 million Ethers. New 32-ETH stakes are transferred to it every minute.

ETH2 deposit contract breaks above $3B
Image by Etherscan

As the correction of the Ethereum (ETH) price ended, ETH is changing hands at $1,225: the $1,250 level was too difficult for bulls to conquer. Meanwhile, even at press time, it is worth almost $40,000 to join the club of Ethereum 2.0 stakers.

Therefore, the USD-denominated value of assets locked in the contract surpassed $3 billion for the first time ever and keeps surging.

It should be noted that Ethereum 2.0’s deposit contract went live on Dec. 1, 2020, heralding the start of ETH2 Pase Zero or Beacon Chain, the inaugural stage of Ethereum 2.0.

Ethereum 2.0 “entry tickets” become really expensive

At press time, more than 52,267 addresses transferred money to the deposit contract.

Ironically, Black Thursday in Crypto (March 13, 2020) was the most convenient time to join Ethereum 2.0 staking with Ether at $95. Today, Ethereum (ETH) enthusiasts should pay 13 times more to have a minimum amount of Ethers required for staking.

Ethereum 2.0 is a proof of stake (PoS) iteration of the Ethereum (ETH) protocol. It replaces mining by staking and splits the whole Ethereum (ETH) network into several interconnected sub-chains (shards).

According to Staking Rewards analytical dashboard, annualized rewards for ETH staking are estimated between 10.4 and 10.6 percent.

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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.)