Shelley fork activation didn't cause Cardano to update highs

by in Cryptocurrency News

Cardano

On July 29, as planned, the Shelley update was integrated into the Cardano network. Thus, the decentralization of the project has been completed, as previously stated by the leader of the altcoin development team, Charles Hoskinson.

In the last few months before the fork was activated, staking was available with real rewards based on the test network.

IOHK, the developer of Cardano, predicts that the number of staking pools may soon reach one thousand. By the time Shelley was activated, there were just over 450 pools in the network. The initial distribution of the award is scheduled for August 18, the team promises.

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Recently, Charles Hoskinson said that the Cardano ecosystem soon could become the most attractive for blockchain application developers. Next year we will see how hundreds of new services will appear based on Cardano, the creator of the altcoin believes. On the eve of the Shelley fork, the ADA cryptocurrency grew steadily in value. After the March collapse, altcoin has risen in price by about 700%. In mid-July, the coin reached its highest values ​​since August 2018.

However, after the network upgrade, the growth in the ADA value was replaced by corrections. Over the past 24 hours, altcoin has lost 2.87% to $ 0.14. Cryptocurrency capitalization fell to $ 3.63 billion.