Select Page

Cardano(ADA) Price Jumps 7% Post-Grayscale Addition, 71% Circulation Supply Staked

Cardano(ADA) Price Jumps 7% Post-Grayscale Addition, 71% Circulation Supply Staked
This article is added for educational purpose only. All credit goes to the respected author of this article. All In One Crypto App do not hold any liabilities of this article. You can get the source link at the end of the article content.

Cardano(ADA), the fifth-largest cryptocurrency by market cap has seen a 7% rise in its price over the past 24-hours especially after Grayscale added it to their popular Digital Large Cap Fund with the third-highest allocation. The price of ADA was trading at $1.40 at the time of writing, rising from a daily low of $1.29.

9otzUAhd
Source: TradingView

Cardano is currently in a very important transition phase moving towards smart contract integration, scheduled to go live in August. The blockchain is currently in the last phase of the Alonzo smart contract hard fork that would make it compete against the likes of Ethereum, Solana, and Polkadot.

The Alonzo testnet is a part of the Goguen era also known as the smart contract era and is scheduled to launch in different phases. The first phase Alonzo blue went live on May 27 while the remaining ones are scheduled to go live within the next couple of months.

Alonzo
Source: Coinmonks

The key smart contract era comes almost a year after the Shelly network upgrade on the mainnet. While Shelly made the core of the network decentralized, the Alonzo update would add smart contract features making it a hub for a number of smart contract-based Dapps, Defi, and even NFTs.

71% of ADA Circulating Supply is Staked

In the run-up to the Alonzo hard fork, $32.41 billion or nearly 72% of the total circulating supply of ADA is currently staked in staking pools.

FireShot Capture 141 Cardano PoolTool The most comprehensive staking statistics for Card pooltool.io
Source: Cardano PoolTool

The total number of staking addresses has crossed 6700,00, and these addresses have staked their ADA in 2,679 active pools. One of the spokespeople from IOHK has discussed the importance of the Alonzo project and said,

Come the end of the Shelly era, we expect Cardano to be 50-100 times more decentralized than other large blockchain networks, with the incentives scheme designed to reach equilibrium around 1000 stake pools.”

Cardano is currently in the third era out of five important ones listed on blockchain’s roadmap namely, Byron, Shelley, Goguen, Basho, and Voltaire. Each era comes with its own share of hard forks that makes the network more compatible, user-friendly and decentralized.

The post Cardano(ADA) Price Jumps 7% Post-Grayscale Addition, 71% Circulation Supply Staked appeared first on Coingape.

 

Source: Coingape

 

All In One Crypto App presents a unique dynamic crypto course that allows you to become a profitable and successful trader. Download Now

Don't forget to share your review/suggestions for the android app.

All In One Crypto App is an execution-only service provider. The material provided on this website is for information purposes only and should not be understood as investment advice. Any opinion that may be provided on this page does not constitute a recommendation by All In One Crypto App or its agents. We do not make any representations or warranty on the accuracy or completeness of the information that is provided on this page. If you rely on the information on this page then you do so entirely on your own risk.es here

Reviews

All In One Crypto App

Made $234 profit with Free Signals from $50

This is the best useful app on my phone. Started trading with $50 and in 5 weeks I was up to $234 just with the free signals. I will recommend it to any new person that wants to try trading crypto. Link to Review

Asoluka Chimdindu

Free User
All In One Crypto App

Good Support

This app is one of the best for crypto currency trading signal for experts and beginal with free and premier with auto follow trading bot all the signal is excellent with accurate technical analysis and fundamental I really like the way they guide and support. Link to Review

olaplus olaplus

Premium User
All In One Crypto App

Accurate Trading Signals

I was premium member of this channel back in 2018 when there was no app. Thr signals were too good, more than 90% accuracy. Now with this app and newly introduced auto trading bot, it will be awesome. Too the moon. Link to Review

Yogesh Patil

Premium member
All In One Crypto App

Awesome and Accurate Signals

Very glad to use this app. The crypto signals was awesome and accurate with detailed explanation and visual information. The admin also helpful and nice. Link to Review

soon cheong

Free User
All In One Crypto App

User Friendly App

Signals are great. I love it. App also friendly to use… Nice job guys Link to Review

Olawunmi Dilureni

Premium Subscriber

Recent Comments