Cardano (ADA) Surges By More Than 14% In The Past 24 Hours

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.

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.”

Stay tuned for more Cardano related news ahead of the much0awaited Shelley upgrade.


Companies Mentioned

CoinMarketCap
CoinMarketCap

CoinMarketCap is a website that provides cryptocurrency market cap rankings, charts, and more. It was purchased by Binance for $400M in 2020.

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Andreas Townsend Author

I am a technical writer, author and blogger since 2005. An industry watcher that stays on top of the latest features, extremely passionate about finance news and everything related to crypto.

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