Cardano Unveils New Progress Report as Analyst Predicts 2,500% Rise in ADA Price - ELEVENEWS
Cardano’s meteoric rise may be on horizon as platform’s latest progress report aligns with bold analyst’s prediction of 2,500% increase in ADA’s price In a revelation today, Cardano, the blockchain project...
Cardano’s meteoric rise may be on horizon as platform’s latest progress report aligns with bold analyst’s prediction of 2,500% increase in ADA’s price
In a revelation today, Cardano, the blockchain project known for its ADA token, released its weekly development report. The report comes hot on the heels of a bold prediction by analyst Ali Martinez, who suggested that ADA could experience a staggering 2,500% surge in value.
While Cardano currently trades at $0.248, Martinez anticipates a potential breakthrough as early as December, projecting ADA’s price to reach $6 within a year.
The progress report reveals extensive work carried out by Cardano’s development team, IOHK. Notable updates include the release of Lace v.1.6, empowering users to customize multistaking ratios and enhancing the overall user experience. Additionally, the report highlights advancements in the Plutus Core, Marlowe and Hydra technologies, showcasing Cardano’s commitment to innovation.
Of particular interest is the introduction of GovTool on SanchoNet, a governance tool enabling ADA holders to register as delegate representatives and delegate their voting power. This community-driven initiative aims to establish a foundational layer for off-chain governance processes, emphasizing community ownership and collaboration.
— Input Output (@InputOutputHK) October 12, 2023What's next for SanchoNet?
The development team is in full swing, fine-tuning and enhancing every aspect. Performance is a top priority, with rigorous testing underway. Moving towards #Voltaire mainnet, where our collective efforts on #SanchoNet will bear fruit.#Cardano pic.twitter.com/YinFTB1u7k
Project Catalyst, Cardano’s funding initiative, also made significant strides, onboarding 192 projects funded from Fund10. The growth of community participation in Catalyst initiatives indicates a strong commitment to community-led accountability, fostering a sense of ownership among stakeholders.
As Cardano’s development surges forward, investors are keenly observing these advancements, considering their potential impact on ADA’s price trajectory. With Martinez’s optimistic prediction echoing the optimism within the Cardano ecosystem, the coming months promise exciting developments for both the platform and its investors.
Delegate Your Voting Power to FEED DRep in Cardano Governance.
DRep ID: drep12ukt4ctzmtf6l5rj76cddgf3dvuy0lfz7uky08jfvgr9ugaapz4 | We are driven to register as a DRep by our deep dedication to the Cardano ecosystem and our aspiration to take an active role in its development, ensuring that its progress stays true to the principles of decentralization, security, and community empowerment.DELEGATE VOTING POWER!
