Cardano (ADA) Market Update for 29 May 2020

Siamak Masnavi

This article provides an overview of how Cardano (ADA) has been doing over the past 24-hour period, covers recent news that might have affected its price (or might do so in the future), and looks at interesting tweets about the 11th most valuable (by market cap) cryptoasset from prominent members of the crypto community.

Yesterday, Charles Hoskinson, CEO of IOHK, sent out a tweet announcing that IOHK's Cardano Product team would be providing its May 2020 Cardanao Development Update via its monthly live show that would be shown on the Crowdcast platform on May 28 at 16:30 UTC (or 17:30 BST, 18:30 CEST, 12:30 EDT): 

Just before this webcast started, according to data from CryptoCompare, Cardano's ADA token was trading at $0.05882. Within less than seven hours, the Cardano price had reached $0.06742, i.e. a jump of 14.62%.

ADA-USD 24 Hour Chart on 29 May 2020.png

Around 17:30 UTC yesterday, Hoskinson sent out this tweet to show the rollout plan for Cardano Shelly:

During the webcast, Hoskinson had this to say about the the launch of the next major version of Cardano:

"I'm really proud of everybody. It's been a long time coming and it's been a difficult year, because we've had to change the tires while the car is running... What we're creating is basically the world's next operating system."

As you can see from the roadmap shown above, the target data for the Shelly network upgrade (hard fork) is July 29.