Cardano Price Rallies 60% Following Shelley Proof-of-Stake Upgrade Announcement

The price of Cardano (ADA) has increased 60% in the week following Cardano co-founder Charles Hoskinson revealing the roadmap for the Shelley upgrade in a YouTube podcast with Lark Davis, aka Cryptolark. 

Shelley will see the network upgraded from a centralized network to a distributed one through the Shelley protocol upgrade by July 7, viewers were told, in conjunction with details about staking rewards and the hard fork.

This is the biggest change in protocols from any blockchain project, according to Hoskinson:

“This is like Ripple changing its consensus protocol […] No cryptocurrency has really done this to this scale after they’ve rolled out.”

With the launch date less than a month away, the price has seen significant increases from $0.055 to $0.088 and daily trading volume increasing by more than four fold.

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