ADA price gains likely with Shelley release, according to Weiss Ratings
Cardano investors are closely following ADA’s roadmap to see if the upgrade can push the price even higher. The Shelly Testnet release is scheduled to be released during the present quarter, according to Charles Hoskinson. The upgrade promises to bring more sustainability and scalability, as well as bringing the project closer to its goal of guaranteeing full decentralisation.
The recognised rating provider, Weiss Ratings highlighted in a tweet that the update and Coinbase listing have a key role to play in Cardano’s 24% surge in the last week.
ADA’s core update may set a completely new tone by removing miners from the process. Shelley is built to create an incentive structure that can enhance staking and adoption. Therefore, the team aims to disrupt the existing mechanism into a more honest and inclusive network. On Cardano’s website, the team has maintained optimism within the community by revealing the results that the latest development will bring:
“Following on from the Byron era, the Shelley era of Cardano is a period of growth and development for the network. Come the end of the Shelley 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 1,000 stake pools”
At the moment of writing, ADAUSD remains in consolidation, with price action ranging between $0.095 and $0.089.
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