Cardano Market Update: Bulls stay in control as staked ADA count crosses ten billion
- Cardano currently has over ten billion ADA being staked.
- The network also has more than 920 active staking pools.
- Active pools have spiked by 80% since the Shelley upgrade launch.
With over ten billion ADA being staked and more than 920 active staking pools, Cardano appears to have reached a new milestone. After the recent Shelley upgrade, users have been able to stake their ADA to improve network function for a reward in return.
The number of active pools on the network has spiked over 80% since the launch of Shelley and Cardano aims to reach 1000 very soon. The Cardano Foundation noted that the network would become “one of the most decentralized, scalable, and secure blockchains to date” once the mainnet reaches one thousand pools.
Earlier, IOHK (the firm behind Cardano) had promised smart contract compatibility as a feature of the Shelley upgrade. The company’s CEO, Charles Hoskinson, recently confirmed that smart contracts and native assets would be coming later in 2020.
ADA/USD daily chart
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ADA/USD bulls stayed in control for the second straight day. It is currently priced at $0.1402. The Elliott Oscillator has had 16 straight red sessions. ADA/USD has strong resistance levels at $0.1424 (SMA 20), $0.145 and $0.1486. On the downside, we have two healthy support levels at $0.135 and $0.124 (SMA 20).
Author
Rajarshi Mitra
Independent Analyst
Rajarshi entered the blockchain space in 2016. He is a blockchain researcher who has worked for Blockgeeks and has done research work for several ICOs. He gets regularly invited to give talks on the blockchain technology and cryptocurrencies.
