2020 has proven to be an unpredictable year in every way possible. We shall always blame a pandemic for messing up our lives and practically sending the global economy into quarantine. However, let us not forget the surprising contributing of the crypto assets into shaping the future course of economic uplift. In a surprise turn of events, while paper money continues to witness a decline, the cryptocurrencies are showing amazing signs of an upward rise.
Cardano (ADA) is the largest cryptocurrency with a skyrocketing market value so far. Right from June 2019, the ADA trading has been experiencing tremendous stability and an upward rise to date. Even during the time of a pandemic and fluctuating economy, the ADA-USD pair has always performed and rallied. It showed a staggering 170% increase in its second-quarter last year.
The current statistics also show that this increase will represent about 200% of the year-to-date again. So while cardinal investors had rejoiced a massive gain last year, they will have some reason to smile even in the current times.
Certain specific factors play a pivotal role in fuelling the big price rally.
The idea of staking involves processes that hold different coins in a cryptocurrency wallet. These coins would support the operations of the blockchain in exchange for newly minted coins. The process is quite similar to the situation of earning and interest on a fixed income investment, including bonds.
The Shelley upgrade plays a pivotal role in popularizing the ADA-USD pair.
Everyone is allured in making passive income by participating and staking in blockchain networks with the highest turnout. The ADA-USD pairing and the hype surrounding the Shelly upgrade have encouraged more investors to fund the market. This is the reason that the ADA-USD pair is anticipating a skyrocketing growth shortly.