Cardano Shelley is Three Days Away, Traders are Buying the News. At the beginning of the year, we noted that the price of Cardano was going to experience a bullish rally because of the long-awaited Shelley mainnet launch.
The transition hasn’t been easy but everything has been moving smoothly since the beginning of the year. The hype surrounding the Shelley mainnet led to a surge in the price of the token. The token has now increased by more than 300% year to date with higher highs to come.
At the time of writing, Cardano ADA was trading at $0.1516. It was up by 14.70% against the USD and up by 12.63% against Bitcoin BTC. The trading volume over 24 hours was $737,267,275 and the market capitalization was $3,930,601,583.
The token has reached new yearly highs and it will most likely keep rising until the end of the year and beyond. The technical charts show that the token is rising but so do the fundamental metrics.
This surge above the $0.1500 might seem like a big deal but it is just a tip of what is to come. The uptrend is going to move higher at a faster pace than it is currently moving. This is all thanks to the hard fork process that has been initiated by IOHK successfully. If any unexpected thing happens, the Cardano development team will abort the process on or before Monday.
The upcoming mainnet launch is causing more hype than all the other testnets because it is the final step in the transition from Byron to Shelley. With all the great things Shelley is going to do, it’s not a surprise that the update is attracting so many people to the Cardano blockchain. Thanks are only going to get better as long as Shelley delivers as promised.
Ufuoma Ogono is a cryptocurrency writer with over 3 years experience in the cryptocurrency industry. She dedicates her time to sharing valuable information to members of the cryptocurrency community.
- Cardano ADA Surges to the Moon With Shelley Launch Three Days Away
- Recent Surge in the Price of ADA Has Brought it to Yearly Highs and the Surge Might Continue
Cardano ADA bulls can’t get enough of the positive vibes. After struggling in the $0.1200 – $0.1220 range for more than two weeks, the bulls gathered the momentum they needed to move higher against the USD. Yesterday, the new rally started and the token crossed the yearly high setting new highs along the way.
The Cardano Shelley mainnet launch is just three days away and the mainnet transaction process has already been launched. As expected, traders have been buying and holding because they don’t want to be left behind after the mainnet launch. The idea is to sell much later when the token reaches even higher levels.
