Cardano News Today – Cardano ADA Price Surges to the Moon as Shelley Code Goes Live on the Mainnet – July 2nd, 2020

  • Cardano ADA Price Enters Bullish Territory is Surging Above the $0.093 Level with Higher Highs to Come
  • The Surge in the Price of ADA is Directly Linked to the Cardano Shelley Mainnet Launch 

Cardano News Today – Cardano ADA has been on fire for the last 24 hours as the development team finally uploaded the Shelley code on the mainnet. The token surged by more than 15% against the USD and the bullish pressure is accumulating irrespective of the rest of the market. Other altcoins were bearish but Cardano ADA was surging. The token was the best performing in the market as it has been since the beginning of the year. The token has gained independence from Bitcoin and other altcoins. Will the token continue to rise days and weeks after the launch?

Cardano News Today – Cardano Shelley Code Finally Goes Online as ADA Surges to the Moon

In our Cardano news yesterday, we talked about the Shelley upgrade. After months of hard work, the price of the token started moving higher against the USD. Since the beginning of trading today, Cardano ADA has increased by more than 15% against the USD. The hot streak isn’t going to end anytime soon as on-chain data. Last month, on-chain data predicted that the Cardano ADA token will face resistance against the USD. This happened shortly after when the token fell from the $0.0900 highs to $0.0700 lows. The token continued to trade on this level for more than two weeks. Now, the on-chain data shows that the Cardano ADA token is going to keep rising after the Shelley mainnet launch.

Cardano (ADA) Price Today – ADA / USD

NamePrice
cardano
Cardano
$0.144

At the time of writing, the Cardano ADA token was trading at $0.093597. It is up by 9.94% against the USD and up by 9.22% against Bitcoin BTC. The trading volume over a 24 hour period is $484,891,129 and the market capitalization is $2,426,708,834. The token will most likely move as high as $0.1100 before it faces any major resistance against the USD. Cardano ADA hasn’t moved as high as $0.1100 for more than a year. While it’s still far from the $1.00 level it reached during the 2018 bull run, it has increased by more than 150% this year alone.

As the price of Cardano ADA is rising, Bitcoin BTC and other tokens are struggling to meet up with the bullish momentum. Bitcoin BTC is still trading at $9,205.03. It is up by 0.52% against the USD. The trading volume over a 24 hour period is $15,726,257,991 and the market capitalization is $169,564,773,057. The next few days of trading will determine if the on-chain analysis is correct.

Max writes about blockchain projects and regulation with a special focus on United States and China. He joined Smarterum after years of writing for various media outlets.

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