NewsBTC
No Result
View All Result
  • Cryptocurrency News
    • Bitcoin News (BTC)
    • Ethereum News (ETH)
    • Ripple News (XRP)
    • Shiba Inu News (SHIB)
    • Cardano News (ADA)
    • Dogecoin News (DOGE)
    • Solana News (SOL)
    • Litecoin News (LTC)
    • Avalanche News (AVAX)
    • Polygon News (MATIC)
  • Crypto Prices
    • Binance Coin (BNB) Price
    • Bitcoin (BTC) Price
    • Cardano (ADA) Price
    • Chainlink (LINK) Price
    • Dogecoin (DOGE) Price
    • Ethereum (ETH) Price
    • Litecoin (LTC) Price
    • Polkadot (DOT) Price
  • Crypto Resources & Directory
  • All Crypto
  • Play GamesTry
  • CasinosTry
Breaking News: Coinbase Confirms DOJ Investigation Following Major Security Incident
  • Cryptocurrency News
    • Bitcoin News (BTC)
    • Ethereum News (ETH)
    • Ripple News (XRP)
    • Shiba Inu News (SHIB)
    • Cardano News (ADA)
    • Dogecoin News (DOGE)
    • Solana News (SOL)
    • Litecoin News (LTC)
    • Avalanche News (AVAX)
    • Polygon News (MATIC)
  • Crypto Prices
    • Binance Coin (BNB) Price
    • Bitcoin (BTC) Price
    • Cardano (ADA) Price
    • Chainlink (LINK) Price
    • Dogecoin (DOGE) Price
    • Ethereum (ETH) Price
    • Litecoin (LTC) Price
    • Polkadot (DOT) Price
  • Crypto Resources & Directory
  • All Crypto
  • Play GamesTry
  • CasinosTry
Bitcoin News
No Result
View All Result
Breaking News: Coinbase Confirms DOJ Investigation Following Major Security Incident

Cardano Price Hits 2020 Top Following Network Upgrade – Will the Rally Sustain?

Yashu Gola
Yashu Gola
1 year ago
2 mins read
cardano ADA

Reason to trust

Strict editorial policy that focuses on accuracy, relevance, and impartiality
Created by industry experts and meticulously reviewed
The highest standards in reporting and publishing
How Our News is Made

Strict editorial policy that focuses on accuracy, relevance, and impartiality

Ad discliamer

Morbi pretium leo et nisl aliquam mollis. Quisque arcu lorem, ultricies quis pellentesque nec, ullamcorper eu odio.

  • ADA, the native token of Cardano, established a new 2020 top on Wednesday.
  • The eighth-largest cryptocurrency surged to $0.097 for the first time in 13 months.
  • The latest gains came as a part of a broader uptrend that began in March 2020 but received an additional boost from Cardano’s network upgrade news.

Cardano is going to the moon before its top crypto competitor Bitcoin.

The blockchain platform’s native asset ADA reached its year-to-date high on Wednesday. As of 2300 UTC, the ADA/USD exchange rate topped at $0.097, its highest since June 2019. The latest gains further extended Cardano’s yearly growth to near 178 percent, according to data provided by Messari.

cardano, ada, adausd, adabtc, cryptocurrency, crypto

Cardano price chart showing its explosive upside move from the Wednesday trading session. Source: TradingView.com

The token also performed exceptionally well against Bitcoin, the top cryptocurrency whose uptrend has paused in the last three weeks. The ADA/BTC exchange rate was up 7.49 percent on a 24-hour adjusted timeframe.

Fundamentals

The gains in ADA price came on the day Cardano kicked off its much-anticipated network upgrade. The project will transform from “Byron,” a federated blockchain to a much more decentralized and dynamic “Shelley.”

The Cardano team aims to become a key player in the emerging supply chain and decentralized finance sectors. Shelley expects to pave the way for the project to become a truly decentralized and scalable blockchain solution for the two industries.

Heard you guys wanted Shelley? https://t.co/X2qqu03z7F how about that?

— Charles Hoskinson (@IOHK_Charles) June 30, 2020

Founder David Hoskinson updated that they have launched the first Shelley node on Cardano’s mainnet. He added that a full hard fork would take place at the end of July, followed by a full-staking launch on the new blockchain on August 18.

The anticipation of a better product seems to be the driver of ADA’s incredible price surge on Wednesday. Traders visibly increased their upside positions in the cryptocurrency market, which may later lead to a short-term price correction on profit-taking sentiment.

Cardano Technical Setup

On Thursday, the Cardano price corrected lower by 2.5 percent. That may have been the beginning of a bearish correction that typically follows a wild upside move. Traders who went Long on ADA yesterday may want to liquidate their positions for short-term gains.

cardano, ada, adausd, adabtc, cryptocurrency, crypto

Cardano is showing signs of an interim downside correction. Source: TradingView.com

It is impossible to predict how far the bearish correction would go. Nevertheless, there is an Ascending Trendline below that have capped Cardano’s downside attempts lately. It may act as a support level should the cryptocurrency’s pump result in an equally massive dump.

Conversely, bulls may want to target its YTD top to break towards the next upside target near $0.103. Meanwhile, a move beyond the said level would further set traders’ eyes on $0.116 as their primary long target.

Tweet123Share210ShareSend
Yashu Gola
Yashu Gola

Yashu Gola

Yashu Gola is a Mumbai-based finance journalist. He is profoundly active in the bitcoin space since 2014 – and has contributed to several cryptocurrency media outlets, including NewsBTC, FxDailyReport, Bitcoinist, and CCN.

Read more

Academically, Yashu holds a bachelor's in information technology, with majors in data structures and C++ programming language. He has also won the 'Atulya Award' for his efforts towards raising $100,000 for an India-based farming project.

Close

Disclaimer: The information found on NewsBTC is for educational purposes only. It does not represent the opinions of NewsBTC on whether to buy, sell or hold any investments and naturally investing carries risks. You are advised to conduct your own research before making any investment decisions. Use information provided on this website entirely at your own risk.

Related News

Ethereum Stagna: I Dati On-Chain Mostrano Accumulo da Parte delle Whale

Ethereum continua a mostrare un movimento di prezzo limitato verso l’alto, nonostante i guadagni registrati la scorsa settimana. Negli ultimi...

clararosati 4 hours ago
Bitcoin Moves Up, Dogecoin Surges Above Key $0.17 Mark; Token6900 Set to Explode

Bitcoin Moves Up, Dogecoin Surges Above Key $0.17 Mark; Token6900 Set to Explode

Bitcoin climbed above $109K, triggering a surge across the markets: Ethereum ($ETH) – up 4.65% XRP ($XRP) – up 3.86%...

Aaron Walker 4 hours ago

Smart Contract Lock and CertiK Audit: The Driving Factors Behind $FUN’s Breakout

Web3 gaming’s FUNToken emerges with strengthened fundamentals following smart contract lock implementation and CertiK audit clearance. Trading at $0.009894 as...

News BTC 5 hours ago
Load More

Reason to trust

Strict editorial policy that focuses on accuracy, relevance, and impartiality
Created by industry experts and meticulously reviewed
The highest standards in reporting and publishing
How Our News is Made

Strict editorial policy that focuses on accuracy, relevance, and impartiality

Ad discliamer

Morbi pretium leo et nisl aliquam mollis. Quisque arcu lorem, ultricies quis pellentesque nec, ullamcorper eu odio.

Related News

Dogecoin price news

Dogecoin’s Quiet Setup Could Detonate Shorty, Says Analyst—Here’s The Target

Jake Simmons 5 minutes ago
PEPE

PEPE Eyes 150% Jump To Grab Liquidity At $0.000025 After Bouncing Off ‘Powerful Support’

Scott Matherson 1 hour ago
Bitcoin

The Silent Bitcoin Accumulation: Public Companies’ Surprising H1 2025 Lead

Christian Encila 3 hours ago

Premium Sponsors

Press Releases

  • The smartest way to make money in 2025: Invest in cloud...

    1 hour ago
  • 仮想通貨プレセール注目|ビットコイン、2025年第3・第4四半期が最良期と予測

    ...

    1 hour ago
  • Bitcoin vs. Gold: Which Is the Best Investment In 2025?

    1 hour ago
  • Profit of $5,735, senior trader uses Ripple (XRP) to open...

    1 hour ago
  • 仮想通貨おすすめ|SPX6900のように急成長が期待される最新ミームコインプレセール

    ...

    3 hours ago

Newsletter

Be the first to get the latest important crypto news & events to your inbox.

  • This field is for validation purposes and should be left unchanged.

About Us

NewsBTC is a cryptocurrency news service that covers bitcoin news today, technical analysis & forecasts for bitcoin price and other altcoins. Here at NewsBTC, we are dedicated to enlightening everyone about bitcoin and other cryptocurrencies.

We cover BTC news related to bitcoin exchanges, bitcoin mining and price forecasts for various cryptocurrencies.

Disclaimer: The information found on NewsBTC is for educational purposes only. It does not represent the opinions of NewsBTC on whether to buy, sell or hold any investments and naturally investing carries risks. You are advised to conduct your own research before making any investment decisions. Use information provided on this website entirely at your own risk.

Company

  • About Us
  • Advertising
  • Contact Us
  • Privacy Center

Social

© 2025 NewsBTC. All Rights Reserved.

  • Cryptocurrency News
    • Bitcoin News (BTC)
    • Ethereum News (ETH)
    • Ripple News (XRP)
    • Shiba Inu News (SHIB)
    • Cardano News (ADA)
    • Dogecoin News (DOGE)
    • Solana News (SOL)
    • Litecoin News (LTC)
    • Avalanche News (AVAX)
    • Polygon News (MATIC)
  • Crypto Prices
    • Binance Coin (BNB) Price
    • Bitcoin (BTC) Price
    • Cardano (ADA) Price
    • Chainlink (LINK) Price
    • Dogecoin (DOGE) Price
    • Ethereum (ETH) Price
    • Litecoin (LTC) Price
    • Polkadot (DOT) Price
  • Crypto Resources & Directory
  • All Crypto
  • Play Games
  • Casinos
Advertise

© 2025 NewsBTC. All Rights Reserved.

This website uses cookies. By continuing to use this website you are giving consent to cookies being used. Visit our Privacy Center or Cookie Policy.