Close to $200 million in ADA has been stacked in less than 24 hours that Cardano’s Shelley testnet was launched.

Data extracted from Pooltool.io indicates that Cardano ADA holders have staked a whopping sum of 5 billion ADA coins, which is equivalent to $195 million (around 27% of ADA total supply).

According to IOHK, over 240 staking pools are now online since the launch of Shelley. On the first day, 120 staking pools went live.

More ADA users are staking their holdings to make the project more decentralized, as is the aim of Shelley.

Our incredible #CardanoCommunity have put in a remarkable effort this weekend, with over 240 pools (+ counting) getting ready for staking. Thank you. We'll let #ada holders know as soon as Reward wallets are available – sign up for alerts here https://t.co/fDjC3ORlYv 3/3 pic.twitter.com/Tp9M04p1FL — Input Output (@InputOutputHK) December 15, 2019

Information from Shelley’s roadmap, infers that IOHK targets reaching 1,000 staking pools during this Shelley period.

“Our incredible #CardanoCommunity have put in a remarkable effort this weekend, with over 240 pools (+ counting) getting ready for staking.”

At the moment, IOHK is offering testnet participants a rewards calculator that makes them estimate and understand the amount they will earn with the staking.

Although IOHK has been ahead in running the staking pulls, other independent participants are coming in. Due to IOHK’s unflinching support for a healthy stake pool ecosystem, it dedicated 1.1 billion ADA across 48 different community pools.

Shelley is all about decentralization and IOHK is committed to encouraging & supporting a healthy stake pool ecosystem. Which is why, this weekend, we have delegated 1.1 billion ada across 48 different community pools #CardanoCommunity 1/3 — Input Output (@InputOutputHK) December 15, 2019

During the staking period, participants are to earn rewards. For example, Shelley reward testnet calculator shows that if a user stakes 5,000,000 ADA, the user receives 983 ADA every day, 29,499 ADA monthly, and 358,915 ADA every year.

Cardano’s Shelley mainnet is expected to go live in 2020. Once launched, staking reward will be made available to users, the network will be as decentralized as possible, and support staking poll, while also increasing the network speed.

Stakers receives additional tokens, up to the tune of 10 percent yearly. Meanwhile, Cardano (ADA) is trading at $0.0360 after losing 1.61% in the last 24 hours.

Like other top cryptocurrencies, Cardano is also shedding some values, indicating that the market situation is terrible.

Cardano Joins Microsoft, LinkedIn, as McCann’s Clients

The Cardano Foundation has said it appointed Ireland-based advertising firm, McCann Dublin as its brand design agency.

According to Cardano Foundation, McCann is now going to focus on realigning the mission of Cardano with its brand.

We do not know if Cardano will undergo a full rebranding, however, everything about the Foundation’s advertisement and brand is to be managed by McCann.