Cardano [ADA]’s bearish act in the cryptocurrency market


Cardano [ADA] had a rough week with a drop of 22.84%. Despite the bearish act in the cryptocurrency world, there is a great deal happening in the community of Cardano. The cryptocurrency is currently trading at a price of $0.195 with a market capital value of a little over $5 billion.

Cardano was recently listed on Cryptopia platform. It has a circulating supply of 25,927,070,538 with a volume of over $116 million. ADA holds the 8th position, between Stellar Lumens [XLM] and Tron [TRX].

Although their main net is currently running since September 2018, there are only 3 trusted nodes that are organized by the Cardano Foundation, Emurgo, and IOHK. Since Cardano is running on its own blockchain and Main net technology, the migration will not take place. The ADA roadmap called Shelly which is the Main net’s decentralization will happen in Q2 or Q3 at some point this year.

FairCopy replied:

“Delegation is part of the Shelley release, which is still scheduled for Q2 according to the roadmap. Maybe it’ll be a June thing, but it’s certainly not out of reach.
A new roadmap item states that a smart contract testnet will be released around April, which is equally important IMO and wasn’t expected until after Shelley.”

satoshibytes commented:

“A little off topic here but I have to ask. Being a fan of paper wallets as well, do you currently store ADA on a paper wallet and if so, could you explain how? I have always used the wallet applications (bitcoin core, etc) itself with a offline computer to generate a new wallet, dump the private keys, etc… But since Daedalus requires syncing before continuing, this is not an option that I am aware of. I’m also hoping that we can have staking with a cold wallet like other cryptos out there.Thanks in advance!”

llamaDev said:

“As for the wallet software first, I think maybe the idea is they want to make sure as many users as possible have fully functioning wallets of their choice before they begin PoS. If there are linux users, or users who prefer paper wallets or hardware wallets or whatever who don’t have support yet when PoS goes live they’re going to be screaming about being left behind.”

Thrashgasm9ho7 commented:

“Additionally, my understanding is that they wanted to respond to the community and they’ve had more feedback and questions about the wallet than staking so that’s what they’re doing first. Seems like a good approach to get everyone all set first.”

24-Hour graph value | Source: CoinMarketCap.

24-Hour graph value | Source: CoinMarketCap.

The highest trading crypto-exchange for the coin is Upbit at a price of $0.20 with a volume of $42 million. The cryptocurrency coin has dropped by 0.30% in the past hour as per CoinMarketCap.

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