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Cardano (ADA)NewsPrice Analysis

Cardano Has Gained Over 53% Momentum in the Last Week as the Launch Date of Shelley Mainnet Announces

Cardano seems bullish as it is included in the list of top-performing coins of 2020 so far. While talking about its price data from the last year to the date, it has shown a perfect comeback from its lows to its high point in the year, thanks to the upcoming Shelley launch.

Since the mid-March, Cardano price has spiked, which enables the coin to gain the eleventh position in the coin market by market cap. Now, it’s close to Tezos and may overcome it soon if the community injects further pump in its value.

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At press time, ADA is exchanging hands at $0.80, and the token is up 2.90% in the past 24-hours. However, today, it has jumped not so much as compared to most coins. The bullish sentiments have driven the whole crypto community to push Bitcoin and other altcoins in the upward direction.

Witnesses Highest Position since July 2019

The current position of ADA value is at the highest point since July 2019. After slipping from its highest position in July 2020, it went down and remained under the bearish forces for a long time. At the end of March, the cryptocurrency began to rise from its low level, around $0.02. Such a fantastic recovery from $0.02 to $0.80 marks a great victory, and due to extraordinary performance, Cardano is one of the top-performing coins of 2020.

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Per the last’s week data, ADA has witnessed a surge of 52% in the upward direction. In gaining market cap, Cardano has also marked a great bullish scenario as it moved from 15th position in mid-March to its current 11th position in ranking based on market capitalization. Currently, its market cap is standing at over $ billion, and it needs injection of more than $100 million to include in the top ten tokens by crossing Tezos.

Shelley Mainnet

The update to the prominent smart contract development platform is coming in the form of Shelley mainnet, which will introduce potential changes to the network.  Charles Hoskinson, the co-founder and, CEO of IOHK has announced the launch date of the new update last week. The announcement has also caused the price value to go up.

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