Cardano’s Shelley Testnet to Launch Tomorrow, ADA Holders Skyrocket

Cardano will open the Shelley testnet to any operator who wants to set up a stake pool, sending social engagement metrics through the roof.

Key Takeaways

  • The IOHK team announced the roll-out plan for the upcoming Shelley upgrade.
  • Following the announcement, social engagement metrics skyrocketed showing high levels of speculation around this hardfork.
  • However, ADA continues consolidating within a no-trade zone without clear signs of where it is headed next.

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Cardano has kept to its long-term roadmap, and as the protocol transitions to a proof-of-stake consensus algorithm, speculation on the project’s native token ADA runs rampant.

The Shelley Upgrade Is Underway

IOHK, one of the leading entities contributing to the development of Cardano, is preparing for a busy couple of weeks ahead.

As the team transitions to the next milestone in the roll-out plan for the upcoming Shelley upgrade, things are moving quickly, according to Tim Harrison, the marketing and communications director at IOHK.

Harrison noted that the introduction of the incentivized testnet (ITN) had been a success since a handpicked group of experienced stake pool operators were able to refine the documentation regarding the upcoming changes.

Now, these” “pioneers” will guide and help new pools onboard starting tomorrow.

“On [June 9], we’re entering a new phase for Cardano. The Shelley testnet will open up to any operator who wants to set up a Cardano stake pool, ready for staking, and delegation on mainnet later this summer… There will be bugs and a few bumps in the road still. But our pioneer community has been doing an excellent job of bashing and smoothing things out with well over 60 pools now up an running and they’ll be around to help,” said Harrison.

ADA Holders Rise to New All-Time Highs

Following the announcementCardano’s’sannouncementCardano’s’s social engagement metrics spiked up based on data from LunarCRUSH. The firm recorded over 1.1…

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