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Zycrypto

11/12/2024

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Cardano Breaks 7-Month Consolidation Range as ADA Decentralized Governance Journey Gets Major Leap

Cardano (ADA) continues to ride on the bullish momentum rocking the crypto market thanks to a weekly surge of 80.4%, according to CoinGecko data. Cardano has been gridlocked in a range for the past seven...

Cardano Breaks 7-Month Consolidation Range as ADA Decentralized Governance Journey Gets Major Leap

ADA Shows Strong Whale Activity Amid Cardano Becoming the Face of Argentina's First Legitimate Smart Contract

Cardano (ADA) continues to ride on the bullish momentum rocking the crypto market thanks to a weekly surge of 80.4%, according to CoinGecko data.

Cardano has been gridlocked in a range for the past seven months, but this fate recently came to pass, with the ninth-largest cryptocurrency smashing the $0.60 resistance level.

Source: World of Charts

ADA was hovering around $0.5764 at the time of writing, showing its steadfast commitment to holding the psychological threshold of $0.60.

Given that Cardano has been mirroring a historical pattern created 4 years ago, top market analyst Ali Martinez pointed out that the altcoin was destined for greater heights this month.

Therefore, based on the notable leg up, fingers are crossed that ADA will hit the psychological price of $1 during the course of this month.

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Cardano Rolls Out New Update

Based on Cardano’s quest to enhance its governance and decentralized capabilities, the network recently rolled out the Node 10.11 update, which implements the Chang #2 hard fork.

This move intends to offer ADA holders more power regarding the network’s governance. As a result, they will have the opportunity to transfer their voting power to certain Delegated Representatives so that governance can be undertaken independently.

Therefore, this development is a stepping stone toward enhanced decentralized governance in the Cardano blockchain.

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Disclaimer: Cardano Feed is a Decentralized News Aggregator that enables journalists, influencers, editors, publishers, websites and community members to share news about the Cardano Ecosystem. User must always do their own research and none of those articles are financial advices. The content is for informational purposes only and does not necessarily reflect our opinion.


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