The SEC has withdrawn its request to classify certain tokens, including Solana ($SOL) and Cardano ($ADA), as securities This move marks a pivotal shift in the case and could have far-reaching implications for the crypto industry. The SEC initially sought to label a range of digital assets, including $SOL and $ADA, as securities. SEC Revises Stance on $SOL and $ADA This was part of its lawsuit against Binance, one of the world’s largest cryptocurrency exchanges.  Classifying these tokens as securities would have imposed stringent regulatory requirements on their trading and handling. This could have potentially reshaped the landscape for both the exchange and its users. The SEC’s withdrawal of this request is seen as a strategic recalibration in the case. It reflects broader discussions and ongoing legal interpretations surrounding cryptocurrency regulation. By not labeling these tokens as securities, the SEC acknowledges the complexity of digital asset regulation. https://twitter.com/ImZiaulHaque/status/1818175396904603728 $SOL and…

Cardano (ADA) is poised to launch the highly anticipated Chang hard fork as over 70% of nodes have signaled readiness for the new version. This milestone suggests that the fork, which aims to enhance decentralization and coordination among nodes, may be announced soon. The Chang hard fork is a significant update for Cardano, targeting improvements in network decentralization without central oversight. It will rely on nodes running version 9.1.0, and its success hinges on broader node adoption. While several exchanges have updated their nodes, the community is still awaiting upgrades from major services like Coinbase and Binance. In the second phase of the Chang hard fork, Cardano will introduce a new governance model proposed by the Intersect organization, including a seven-member interim constitutional committee with community representatives. This phase will also enable ADA holders to participate in governance more actively, moving beyond simple staking to proposing and voting on future…

Cardano is struggling to grow its user base amidst increasing challenges from new blockchain platforms like Solana and Base. According to IntoTheBlock, the number of addresses holding ADA has remained steady at about 4.45 million for over a year, indicating stagnant growth. https://twitter.com/intotheblock/status/1823272401448095853 Despite significant price fluctuations, Cardano’s user base has shown resilience, with consistent address growth since mid-2021. However, recent trends show a shift of interest towards newer competitors, making it difficult for Cardano to attract new users. The network continues to handle around $7.2 billion in daily transactions, suggesting robust activity despite these challenges.  Cardano’s Network Value to Transactions (NVT) ratio is low at 2.62, which could imply that ADA is undervalued relative to its usage. The percentage of ADA held by long-term investors is also strong, with 40% of the total supply in their hands, signaling ongoing confidence in the platform’s potential.  Currently, ADA is priced at…

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