Cardano News Today – Over the last three days, the Cardano ADA token has been surging against the USD carrying the entire cryptocurrency market along. At first, the token was rising slowly and steadily three days ago. Two days ago, however, the price started to surge significantly against the USD. Yesterday, the token moved as high as $0.044 where it found resistance against the USD. One of the primary reasons why the price of the token was rising is the release of the Daedalus 1.0.0 mainnet wallet. It’s not a surprise that the token’s surge in price came just after the wallet was launched.
After 18 months of hard work, Daedalus has finally been launched. Daedalus is just one of the many ongoing projects that IOHK is working on ahead of the Cardano Shelley mainnet launch. According to Charles Hoskinson, the CEO of IOHK, Daedalus is one of the most important products by the company. The launch of Daedalus, which is dedicated to the Cardano network, was only possible after the Byron reboot
Daedalus is stable and secure. According to the team, the sync times of the wallet will range from 30 minutes to one hour while the wallet restoration will take just 20 to 30 minutes. With Daedalus in place, the development team can start working on Ledger support and paper wallets among other beta features. Following the release of Daedalus, the developers can start rolling out the Cardano Shelley infrastructure and small groups of testnet.
Now that Daedalus is finally launched, IOHK said that it can begin rolling out the Shelley infrastructure as well as the testnets. The launches will follow the same process as was the case with the Byron reboot, which means that they will all begin with a small test group and gradually grow from that. As soon as this is complete, the Shelley era would have begun and the blockchain will start its move towards decentralization.
Cardano (ADA) Price Today – ADA / USD
Daedalus promises great things for the Cardano blockchain and community. This is why the rise in the price of the Cardano ADA token can be linked to the launch of Daedalus. At the time of writing the Cardano ADA token was trading at $0.043242. This means that it is down by 0.19% against the USD and down by 0.63% against the price of BTC. The trading volume over a 24 hour period is $146,534,007 and the market capitalization is $1,121,147,184. This time last week, the ADA token was struggling within the $0.031 and $0.033 range.