Cardano’s IOHK celebrates 120 staking pulls less than 24 hours after testnet launch


  • The incentivized Cardano testnet staking surges 17% of the supply.
  • Cardano staking pools could soon hit 1000, IOHK predicts.

The research firm in charge of developing Cardano, a major cryptocurrency, IOHK was delighted to announce the fantastic performance of the newly launched testnet. According to IOHK’s tweet, Shelly Stake Pools recorded over 120 staked pools less than 24 hours following the debut.

Users across the network are excited for the development and are convinced that the stake pools will soon hit 1,000. The surge represents 17% of the Cardano (ADA) coin supply. At the moment, most of the leading pulls are run by IOHK. However, a significant number comes from the private independent pulls.

Cardano’s Shelly mainnet is supposed to introduce decentralization in the network, support a colossal number of staking pulls, increase network speed among others. Staking secures the network while at the same time allows coin owners to earn additional tokens to the tune of 10% of the staked amount annually.

Cardano is trading at $0.0360 on Monday after losing 0.41% of its value in the last 24 hours.

Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility. The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position of FXStreet nor its advertisers.

Cryptos feed

Latest Crypto News


Latest Crypto News & Analysis

Editors’ Picks

BTC needs to defend critical support level at $10,600

Bitcoin was trading inside an ascending triangle pattern between September 3 and September 15, which is created when the price establishes higher lows and a horizontal trendline around the swing highs. 

More Bitcoin News

UNI ready for a bullish assault, once $5.7 is cleared

UNI, the native token of a popular DeFi project Uniswap, rebounded from the support of $4.7 to trade above $5.5 during early Asian hours. By the time of writing, the token retreated to $4.9.

More Uniswap News

BNB full-blown sell signals aim for $22

Binance Coin had a particularly yielding trading period at the beginning of September. Although BNB showed signs of ascending to new yearly highs, the uptrend stalled at $33.50. 

More Binance Coin News

Bitcoin gets back in the game

This weekend saw one attempt by Bitcoin to break the $11000 barrier by taking advantage of the gap that Ethereum left with its sudden attempt to reach the $400 price level.

More Bitcoin News

BEST CRYPTO BROKERS/EXCHANGES

Bitcoin Weekly Forecast: BTC crystal ball gives bulls a faint flicker of hope

Bitcoin staged a healthy recovery this week. The pioneer digital currency price took off from the support area of $10,000 and touched the next psychological line of $11,000.

Read the weekly forecast

BTC

ETH

XRP