The whole crypto market is rallying at the moment, and Cardano’s ADA is also surging like crazy in the past 24 hours. ADA is placed on the 6th position on CMC.
At the moment of writing this article, ADA is trading in the green, and the coin is priced at $0.145075.
This sharp surge in ADA’s price comes right after the Shelley mainnet transition process has been launched, and ADA in visitors have taken this as a buy the news opportunity.
Cryptoslate notes that the coin is pushing up against substantial resistance but the tech significance of the latest movement shows that more upside is imminent.
Analysts are pointing out the fact that that upswing in price allows ADA to break out of a bull pennant that was formed while looking towards the daily chart.
Cardano countdown began
It’s been reported that the Shelley hardfork process has been initiated.
Have you heard? @InputOutputHK have commenced the ‘countdown’ process that will transform the #mainnet from a federated Byron network into a decentralized #Shelley network. Learn more: https://t.co/7ueVVC3CO2 or hear @IOHK_Charles explain: https://t.co/dW3ft4sNq9
— Cardano Community (@Cardano) July 25, 2020
Over the weekend, IOHK will continue to carry out numerous tests.
It’s been also mentioned that it is still possible to abort until Monday:
“We have now begun the countdown over the next 5 days to hard fork Cardano from Byron to Shelley. Our last chance to abort will be sometime on Monday, during the weekend the engineers and the QA-team will be conducting an exhaustive 72 hours burn-in, to go through all checklists that we have.”
Shelley is the first step towards true” decentralization” as it optimizes the #Cardano network for mass participation for a #secure, #decentralized, and democratized ecosystem. Read More https://t.co/ejFhCJk8hb#ShelleyEdition #Blockchain #decentralization pic.twitter.com/CTlzCxZiGC
— Cardano Community (@Cardano) July 25, 2020
Stay tuned for more Cardano related news ahead of the much0awaited Shelley upgrade.