Cardano News Today – Cardano ADA’s Price Might Consolidate Post the Shelley Hype, it Currently Has Stability at the $0.1400 Level – August 10th 2020

  • Cardano ADA Surged By 400% Year-to-date Thanks to Shelley
  • Post the Cardano Shelley Update, the Token has Found Stability in the $0.1400 Level 
  • Stakeholders Believe the Price of the Token will Consolidate When the Hype Ends 

Cardano News Today – Cardano ADA has been in the spotlight since the beginning of the year. This is all thanks to the Cardano Shelley update and all the other accompanying updates. The native Cardano asset, ADA, has increased significant progress rising by more than 400% Year-to-date. The latest update, Daedalus, has been the talk of town since it was released last week. Daedalus is now the official wallet for holders of the ADA token. Yesterday, the Cardano foundation retweeted a post about Daedalus wallet update being the first major update following the Cardano Shelley hardfork.

Cardano News Today – Cardano ADA’s Price Might Consolidate Soon

Those who have used the Daedalus 2.0.1 wallet claim that it is much better than the older version. It loads in 2 to 5 minutes and it synced 100% without stress. Soon, they will be able to redeem their INT rewards easily. The previous version had difficulty synching with Windows 10 but this problem was eliminated in the latest version. It is much more optimized as well. While many people had positive things to say about the Daedalus wallet, two users complained about the fee structure saying;

“Why ada transfer fee is so high 2.174257 A If we assume EOY 1 ada costs 2$ it is extremely high. The other user said “#Cardano fees are a calculation where a x b x size where a and b are constants and size is the size of transaction.”

In another part of the Cardano community, users were talking about the price action of the ADA token. At the time of writing, the price of the token was $0.144186. It is down by 1.11% against the USD and down by 2.96% against Bitcoin BTC. The trading volume over a 24 hour period is $326,661,691 and the market capitalization is $3,738,312,619. At its yearly peak, the token moved above the $0.1550 level but it faced resistance here and hasn’t been able to recover since then.

A popular member of the cryptocurrency community Sydney Ifergan, said that reality will set in soon. In his words;

“Cardano (ADA) is stepping into reality and is under the close scrutiny of those who bought the hype. We need to see how the price will prove itself.”

Cardano (ADA) Price Today – ADA / USD

NamePrice
cardano
Cardano
$0.082

It’s not clear where the price of the token will settle after all the hype but it’s also not certain that the price of the token will drop. The cryptocurrency market is unpredictable. There is still a chance that the bulls will take control of the market.

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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