Cardano (ADA) Falls Against The USD Days After Cardano Shelley Testnet Activation, What Does This Say About Cardano?

Cardano News Today – Since the beginning of the year, everyone in the Cardano community has been talking about the Cadano Shelley upgrade and all the good things it would bring to the network. A surge in the price of the Cardano ADA token was predicted to happen as a direct result of the Cardano Shelley update. In our Cardano price prediction 2019, we noted that the price of ADA would test new highs. We even said that ADA will surge by more than 100% after the activation of Cardano Shelley on the mainnet. This was expected to happen irrespective of the sentiment in the market.

Cardano News Today – Cardano Price Prediction 2019 – ADA News Today – Cardano Shelley Testnet Is Active But The Price Of ADA Is Stable

A few days ago, Cardano Shelley was activated on the testnet. At the time, the price of ADA was in green partly as a result of the general market sentiment. Members of the cryptocurrency community expected that the price of ADA will continue to trend in green long after the testnet activation of Cardano Shelley. Unfortunately, this didn’t happen. Cardano has failed to stay above the resistance at $0.1000 and is currently trading in red along with many other altcoins. Why is the price of Cardano falling amid the Cardano Shelley testnet activation? Will things change when Cardano Shelley is activated on the mainnet? Is the Cardano price prediction 2019 still bullish or have the bears taken control of the market for good?

Cardano (ADA) Price Today – ADA / USD

Name Price24H (%)
Cardano (ADA)
$0.053053
-10.28%

Why is there so much hype surrounding Cardano Shelley? Well, for starters, the Shelley upgrade marks the migration from the proof-of-work consensus mechanism made famous by Bitcoin, to the proof-of-stake consensus mechanism. You see the proof-of-stake algorithm is just not advanced than the proof-of-work. It allows extra scalability and paves the way for true decentralization on the blockchain. Shelley gives power to the users allowing them to participate in allocation of roles, staking, and many other functions that were initially delegated to core developers. The power that Charles Hoskinson will have over the blockchain after the mainnet activation will reduce. Right now, the activation of Cardano Shelley on the testnet is allowing users to test out these features.

Also users of the Cardano blockchain will be able to enjoy faster synchronization, wallet alterations, use Cardano debit cards, light client support, quantum resistant signatures, among others. The migration to Cardano Shelley is one of the most important events in the history of the Cardano blockchain. So, you see why there is a lot of hype surrounding it. In the next few months, we will know if the project is worth the hype and if the Cardano development team can fulfill its promises.

Cardano News Today – Cardano Latest Update – Cardano Shelley – Current Price Of ADA

At the time of writing, the price of ADA was $0.096375. This means that it is down by 0.35% against the USD and down by 2.29% against the BTC. The trading volume over a 24 hour period is $197,277,818 and the market capitalization is $2,498,729,714. The next few days of trading will determine if the price action is going to change or not. Right now, it’s not clear how the activation of Cardano Shelley on the mainnet will affect the price.

What do you think about the Cardano price prediction 2019 in our Cardano news today? How high will ADA go after the Cardano Shelley mainnet activation? Share your thoughts in the comment section below.

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.

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.