Despite Shelley Incentivized Testnet Success, Cardano (ADA) May Still Have to Jump This Hurdle

Already, the Incentivized Testnet phase of Cardano’s Shelley era which is the initial phase of the Cardano network being decentralized has begun. The Testnet was created to try out incentivization in a real-world scenario by allowing the ADA holder to earn real rewards by either delegating stake or running a stake pool.

The Shelley friends and family Testnet launched on 11th May marked a significant milestone for Cardano (IOHK).

ADA/USD Daily Chart

He also enunciated on the growth in the number of pioneers which stood at 32 at the time.

Cardano’s virtual summit also scheduled for last week in May has plans gearing up with five workstreams created.

Despite Shelley Incentivized Testnet Progress, This Hurdle Remains

In/Out of the Money Around Price. (Source: IntoTheBlock)

IOMAP also indicated that 71.3% of ADA holders had their average entry price lesser than the recent ADA price and are thus “In the Money.” Meaning they will profit in case of a Sell.

In this kind of scenario, there are no absolutes, factoring in bearish market conditions, and crypto market volatility.

Image Credit: IntoTheblock, Shutterstock

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