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3 Reasons Cardano (ADA) Suddenly Surged by 85% in 10 Days

On July 1, a node equipped with Shelley upgrade components was deployed onto the mainnet. By the month’s end, on July 29, the changes will be implemented on Cardano’s network through a hard fork.

The new Shelley upgrade has had a significant impact on the ADA price because of its staking system. Cardano is a proof-of-stake network, which means there are no miners. Users, who run nodes, maintain the network by staking ADA. In return, users benefit from the reward system of Cardano.