As the transition to the new Shelley era approaches, Cardano (ADA) surpassed all other top 100 cryptos this week, gaining nearly 60% over the past seven days and joining the Bitcoin (BTC) in the top 10 with positive returns over the past 12 months. The price has increased by almost 80% in one month.
Following these latest gains, the ADA joined the BTC as the only two top 10 coins by market capitalization with positive returns in US dollars over the past 12 months, with the ADA up 2.6%, compared with a 21% 12-month gain for Bitcoin. In comparison, theEthereum (ETH) is down 2.7%, while other large cryptos have fallen from 16 to 59%.
The sharp rise in the price of the ADA also comes as a crucial upgrade to the Cardano blockchain, known as Shelley, is fast approaching.
Read also: Strong rise for Cardano which surpasses 98 other cryptocurrencies.
Charles Hoskinson, founder and CEO of the development company Cardano IOHK, said that the public test network for Shelley’s upgrade will be available to everyone from Tuesday, June 9, with the ability to win real ADA chips through staking.
After the release of the testnet, Shelley’s full upgrade should be ready to launch on June 30, provided “everything works smoothly,” Hoskinson said.
According to Greenwood, approximately 50 people and 81 staking pools now operate on the private testnet and the team would have received positive feedback on the reliability of the nodes.
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According to Greenwood, roughly 50 people and 81 staking pools are now running on the private testnet, with positive feedback received by the team on both reliability of nodes and the quality of the documentation.