Cardano’s Shelley boasts over 600 active stake pools, ADA/USD bulls remain in control as price goes up

Cardano has recently launched the Shelley hard fork.
The network currently has over 600 active stake pools.
Users can now delegate their ADA to pools to earn rewards.

Cardano successfully launched the Shelley hard fork a few days back and it currently has >620 active stake pools. These pools have a total of 2.74 billion ADA committed to staking. According to an official press release, users can now register as stake pool operators or delegate their ADA to pools to earn rewards.

As the number of registered stake pools increases, the Cardano blockchain will become progressively more decentralized. Once the Cardano mainnet has reached 1,000 pools, Cardano will become one of the most decentralized, scalable, and secure blockchains to date.

Charles Hoskinson, the CEO of IOHK, took to Twitter to share a screenshot from “Cardano PoolTool.”

IOG pools are up pic.twitter.com/LqlXNqDemQ
— Charles Hoskinson (@IOHK_Charles) August 1, 2020

The recent hard fork has pivoted Cardano away from the Byron network, which Cardano had claimed would bring the platform closer to the deployment of decentralized applications and smart contract capabilities.

ADA/USD daily chart

ADA/USD bulls took charge of the market for the second straight day. ADA/USD is currently priced at $0.1425. The Elliott Oscillator and MACD show that present market sentiment is still bearish. The bulls will next to take over the $0.148 resistance level. On the downside, we have healthy support at $0.1345 (SMA 20) and $0.117.

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