Cardano's Price Soaring!
Cardano (ADA) has been one of the most divisive coins out there for the last few years. Most people either love the project or hate it with no in-between. But one thing I think most people could agree on is that Cardano definitely has some lofty goals that it wants to achieve. It's a whole different topic on if they will be able to achieve everything they are setting out to do.
I will admit to you that I am a fan of the project and have high hopes of what they could possibly achieve. But my mindset is more so coming from the investor side of thinking. I'm a fan of any project that I think can bring me a profit and I see this opportunity with Cardano.
If you don't know, Cardano has had a great month and a half of the price of the coin rising. This has been due to the actual roll-out and release dates being given out for the upcoming Shelley protocol upgrade. This will take Cardano from being a centralized blockchain, to a completely decentralized one. It will also bring the ability to begin staking your Cardano, launching the mainnet along with many other benefits. From the point the release dates for Cardano being given out, until now, the price has gone from around $0.056 - $0.095. And it appears to be far from finished.
Once IOHK announced the roll-out dates for Cardano there were still many people who were skeptical if they would be able to stay on track without any delays. If you take a look back at Cardano's history that is a very valid concern, because unfortunately the project has seen far too many delays, that caused many people to believe the project may actually never release. Something that has given me a lot of confidence this time around is how open Charles Hoskinson and IOHK are being during this timeframe. It seems almost on a daily basis he is giving us updates on how things are going, all-the-while maintaining that things are going just as they were scheduled. No more delays.
Just earlier this week the final release version of the Shelley code was actually finished and released. This is a huge milestone, it actually means that the code for Shelley is finally finished. While Shelley still isn't released out to the public, that will happen on July 29th. But it still does give a lot of relief to people who may have believed there would be more delays to come Naturally this has caused the excitement level to increase even more, with Cardano up over 14% for the week.
I believe the price of Cardano has even more potential to raise in the future. While there is a resistance holding us back around the $0.10 mark, in my opinion I think the coin will be able to overcome this hurdle. Like I mentioned before, the price just rose with the news of the Shelley code being finished. But the far bigger and exciting story will be when Shelley is actually released to the public for use. Especially with the release of staking I think this will be an extremely exciting time. With all those factors working together, I think it is definitely possible within one month we could be seeing the price of Cardano reaching around $0.20.
This isn't financial advice; but I believe it definitely isn't too late to get into Cardano, and there is so much profit potential.
After all those things, there have been rumors all over the internet that once Cardano becomes decentralized, it will finally be launched onto Coinbase. Every time Coinbase lists a new coin; that said coin's price always surges.
But also the future road map of releases for Cardano after Shelley will continue to improve the blockchain. With Goguen bring smart contracts, Basho bringing scaling, Voltaire bring governance. All upgrades that I believe will boost the price even more.
Ethereum has a huge head start on Cardano, and who knows if they will ever be able to catch up. But Cardano I believe will have a lot of great things to offer in the future. And the price potential gains are abundant with this coin.
What do you think will happen to Cardano's price with the release of Shelley? And, are you a fan of the coin?
As always, thanks for reading!