This week seems to be very busy, loaded, and great for the Cardano ecosystem as the cryptocurrency continues to up its game with huge value additions. However, to add more to the glory, the official IOHK media announced that the Cardano blockchain network is set to be officially 100 times decentralized than Bitcoin.
IOHK media announced via its official Twitter handle that the biggest upgrade in the history of Cardano is set to be deployed. The media declared that the release of the Shelley code has officially begun, hence taking Cardano to a greater level.
The upgrade will introduce a number of new intriguing features that will add more value to the Cardano blockchain network. Also, users of the blockchain technology will be gain a better experience.
While the Shelley upgrade is a much-anticipated development within the Cardano ecosystem and community, the announcement will likely boost people’s interest in Cardano blockchain as well as the euphoria within the blockchain community.
In recent times, Cardano has bagged huge credence for its real-world use case as experts claim it is one of the truly decentralized networks in the blockchain industry.
After Launch of Shelley, What will Happen to ADA Crypto
For quite some days and weeks now, Cardano (ADA) cryptocurrency has been recording a significant value rise in the market as the imminent release of Shelley mainnet, alongside the release of Shelley testnet, create ripples in the industry.
This is showing reasons to believe that there may be a strong connection between Cardano value spike and the buzz Shelley prelaunch creates in the industry.
Within 35 days, prior to the announcement of Shelley code release today, June 2, Cardano’s position on the market table shifted by two positions, after a meaningful rise.
Cardano surpassed Tezos on 31st of May and by June 1, Cardano again overtook EOS to be ranked the 9th largest cryptocurrency in the market by capitalization.
As Cardano continues to rally high on the upside trend until today, a devastating bearish effect hit the market, placing most cryptocurrencies, including Cardano, in the red zone.
Despite the recent downside in the market, experts and analysts are expecting a great move from Cardano (ADA) coin in the market. It is hoped that Cardano will continue to rise in the market especially because of the release of the Shelley code.
At present, Cardano holds a very close market cap value with Binance Coin, hence, if the cryptocurrency keeps rising, and a unit value of ADA surges to around $0.12, there are high chances ADA surpasses Binance Coin to be ranked the 8th largest cryptocurrency.
Nevertheless, in the worst-case scenario, Cardano will likely not drop below $0.016.