Cardano News Today – Cardano ADA Retests the $0.053 Level Following Shelley Pioneer Launch – May 13th, 2020

  • Cardano ADA Surges Above the $0.053 Level But the Bears Kick in and Bring the Price Back to the Support
  • Charles Hoskinson Announces Cardano Shelley’s Pioneer Launch, Says Nothing Will Delay Mainnet Launch

Cardano News Today – Toward the end of trading yesterday, the Cardano ADA token started recovering. The bulls allowed the token to regain most of the gains it lost during the bloody weekend when Bitcoin and all the other cryptocurrencies fell significantly against the USD. The bull kept the trend upward until this morning. This morning alone, the token increased by more than 4.38% against the USD but the bulls could not maintain their momentum and the price moved lower against the USD. The good news is that the support at $0.050 came through and prevented lower lows against the USD. The bullish momentum for Cardano ADA yesterday was most likely due to the speech by its founder, Charles Hoskinson.

Cardano News Today – Cardano ADA Price Most Likely Surged Because of Charles Hoskinson

The Cardano development team released the pioneer of the Shelley mainnet yesterday. Before the launch, Charles Hoskinson said that the Shelley mainnet launch is still going to be released this year as scheduled. In his words;

“There is no delay of the Cardano Shelley. Pioneer is set for launch today. We are very happy about the outcome of the Family and Friends update. Throughout the week we’re gonna be rolling a lot of cool stuff out to the pioneers and they’re gonna be living the Oregon Trail for a little bit. Can’t spoil anything yet but I’ll just say that things are happening there sooner than you think and pioneers are kicking ass.”

Hoskinson also talked about the next generation of paper wallets which they are working on with Vacuum Labs. It is already online on the Daedalus. Hoskinson has wagered his future as an IOHK executive on the success of the Cardano Shelley mainnet. A while ago, he released a video in which he said that he would leave his position as an executive and become a monk if the Cardano Shelley mainnet doesn’t launch in 2020.

Cardano (ADA) Price Today – ADA / USD

NamePrice
cardano
Cardano
$0.143

The Cardano ADA token has been doing well in anticipation of the Shelley mainnet launch. Year to date, the token is up by about 49%. Within the last 30 days, the token is up by over 50%. Right now, the token is trading at $0.050087. It is down by 1.03% against the USD and down by 2.57% against the price of Bitcoin. It is holding the support at $0.050 so there is hope that the bulls will come back to the market soon. There is strong resistance at the $0.052 level.

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.

LEAVE A REPLY

Please enter your comment!
Please enter your name here

This site uses Akismet to reduce spam. Learn how your comment data is processed.