As the entire crypto community awaits the mainnet launch of Cardano Shelley to push the decentralization of the blockchain network to the mantle, ADA, the native token of Cardano, continues to display epic profiting rally.
The fruitful rally has however placed Cardano (ADA) back in the 10th position, displacing Tezos to the 11th position as the market capitalization of the former budges up. The CEO of Input and Output HK, Charles Hoskinson, displayed excitement for the growth, saying it is good for Cardano to be back in the top 10.
Hoskinson however rejoiced the growth with Eminem’s “I’m Back” Hip-Hop/Rap track which was released in 2000 in the artist’s “The Marshall Mathers LP” album.
Cardano made the accomplishment with steady upward growth since May 25, surging the value of the cryptocurrency from $0.055 to 0.082 at press time. Cardano (ADA) has added more than 45% to its value in the last 7 days, and 64% growth was also recorded since the last 30 days.
No doubt, the Shelley mainnet launch is a big and significant development for the blockchain network, and lovers of Cardano have been anticipating the launch, hence a possible reason behind the epic growth.
Similar to that, Charles Hoskinson earlier projected that with the launch of the Shelley mainnet, if the team behind the blockchain network keeps up its momentum, and the blockchain network sticks to its principle and did not bury why its protocol was created, then it can rise high like Bitcoin.
Cardano Shelley Friends & Family Testnet Pioneers Rise to 58
The Cardano Forum has announced that due to the increase in the number of pioneers on the Cardano Shelley Friends & Family testnet, there are now 58 pioneers on the testnet network, and expectations are that the number will continue to increase as we await the mainnet launch.
The imminent shelly mainnet launch has made Cardano a hotcake amongst its contemporaries in the blockchain market.
In the statement, it was related that the second wave of pioneers has been onboarded in the network, adding that the team aims at releasing the public testnet on June 9 so that more stake pool operators can join.
Progress on the Development of Cardano Byron
On May 28, 2020, the Cardano Node 1.12.0 update was released, enhancing the development of the Cardano Byron on the mainnet.
Aside Bryon, the Node 1.12.0 is such a great advancement for Shelley as it contains a number of Shelley features that add support for the Cardano Shelley Testnet.
Also, the hardfork combinator 4 has gone through a successful and fulfilling first-round testing.