As we already know, the Shelly Testnet on Cardano network has gone live. This has ushered in the path that leads to complete decentralization on the Cardano network. To this end, crypto enthusiast and commentator, Charles Hoskinson is in Israel waiting for feedback from the developers in the country. Has the launch of Shelly impacted the price of ADA? It appears ADA price is currently consolidating along $9.5 cents following the June 26 candlestick. The coin is now 7.3% up from last week’s closing price.
Cardano (ADA) Price Today – ADA / USD
Cardano Price Prediction 2019: Launch of Shelly TestNet Ensures the Road to Decentralization is Fast-tracked
Charles Hoskinson is also the technical leader of the initiative. He is very passionate about cryptocurrencies. After cutting ties with Ethereum following the issue of the contentious and implicating DAO, the crypto enthusiast continues to head the development of the Ethereum Classic protocol.
Hoskinson is generally thorough in his work, having guided Cardano’s IOHK in the issue of quality. As a smart contract platform that puts quality and peer reviewing first over speed and compromise, the network’s five-step development to Voltaire will create a verified, peer-reviewed protocol. The platform will be scalable and totally decentralized.
Though it may take a few more years before Voltaire is fully in effect. However, the network’s release of its Shelly TestNet has ensured that the path towards the ultimate goal of decentralization is fast-tracked. Because of the Shelly protocol, there will be complete decentralization. That is the key reason why the blockchain community is interested in the project’s outcome.
Shelly TestNet Allows Experimentation on Staking
The TestNet which is now live was launched on June 21. It allows experimentation on Staking. Apart from staking, the Shelly TestNet prepares the Cardano network for the last phase of transition of transaction validation to community staking pools from IOHk.
The testing of the new initiative will be in three different phases. The first stage is designed to allow users to produce a Rust Self Node and simultaneously establish the basic configuration for staking pools. After this, the Rust Self Nodes will be connected into a single “unified TestNet” prior to incentive building and delegation which complete the third phase of testing.
Cardano Price Prediction 2019: Cardano’s Current Statistics
Currently trading at $0.9, ADA price is bullish. It is currently 7.3% higher from the close recorded in the last week. Despite this, the path of least resistance is upwards. In an altcoin season, the price of ADA will benefit by attracting capital, especially if the network’s Shelly TestNet reveals the power of Cardano.
Every low is a loading position because ADA is in a bullish breakout trendline. While there’s an opportunity for the entry of aggressive traders, it is important to point out that prices have edged past May 2019 resistance sitting at $0.95.
On the other hand, if there is a firm close above $0.95, preferably with a higher trade participation, ecstatic buys could be triggered as traders look towards ADA price reaching $0.12. Such a move will all but confirm that ADA is in a bullish breakout from what was seen in the later part of March.
As the current pattern for ADA/USD indicates, the dominant movement is upwards. Although there is still consolidation, trading volumes remain on the high side. Hence, a break and close over 9.5 cents, will validate this trade plan as experts expect high participation for crypto from June 26.