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Anzens

<div>Cardano (ADA) has achieved a significant milestone with the successful completion of its <a href="https://bitcoinist.com/cardano-community-core-upgrades-historic-vote/amp/" target="_blank">first-ever on-chain governance vote</a>. For the first time, core development funding has been directly approved by the Cardano community, marking a significant step forward in the blockchain’s transition to fully decentralized governance. Reacting to the milestone, <a href="https://bitcoinist.com/charles-hoskinson-backs-ada-as-bitcoins-defi-layer-is-cardano-set-to-outperform-btc/amp/" target="_blank">Cardano’s founder, Charles Hoskinson</a>, shared his thoughts on the network’s progress. 
<h2 id="ftoc-heading-1">Cardano Enters New Era Of Decentralized Governance</h2>
<a href="https://bitcoinist.com/cardano-roadmap-for-2030/amp/" target="_blank">The Cardano ecosystem</a> has reached a pivotal moment in its growth and evolution, marking a historic milestone with the recent execution of its first governance vote. The landmark event signals the beginning of a new phase for the blockchain, where decisions around core development funding are now being made directly by the community rather than centralized entities.
Hoskinson publicly acknowledged the significance of the event in an X social media <a href="https://x.com/iohk_charles/status/1951813034927882719?s=46" target="_blank">post</a> on August 3. He praised the community for their support and trust, reinforcing the belief that <a href="https://www.newsbtc.com/news/cardano/hoskinson-claims-cardano-is-still-1-crypto-citing-decentralization-and-upcoming-plans/" target="_blank">decentralized governance</a> is not just a vision but now an operational reality within the Cardano ecosystem. 
Hoskinson’s remarks came in response to an earlier post by <a href="https://bitcoinist.com/input-output-exits-cardano-leadership/amp/" target="_blank">Input Output Global (IOG)</a>, a blockchain research and development company behind Cardano’s development. IOG had commemorated the blockchain’s recent governance achievement by stating that <a href="https://bitcoinist.com/cardano-community-charles-hoskinson/amp/" target="_blank">the Cardano community</a> had officially made history. 
<a href="https://www.newsbtc.com/news/cardano/cardano-sets-voting-record-nearly-100-of-4-6-billion-ada-cast-via-delegates/amp/" target="_blank">The governance vote</a> had approved direct funding for core development initiatives, representing a foundational shift in how the Cardano ecosystem grows and evolves. Rather than relying on a small group of decision-makers, the blockchain now empowers its global community to determine resource allocation collectively. Input Output Global praised both Cardano and its community’s efforts, calling the recent milestone the beginning of a new era of decentralized governance. 
Notably, the broader crypto community is already <a href="https://x.com/cswapdex/status/1952019931270451710?s=46" target="_blank">responding</a> with enthusiasm, with many <a href="https://x.com/anzensofficial/status/1952265788712189991?s=46" target="_blank">offering</a> congratulations and support as Cardano celebrates this landmark event. The network’s successful governance vote sets a powerful precedent in the crypto industry, showcasing the potential of a blockchain governed directly by its users. 
<h2 id="ftoc-heading-2">Cardano Becomes Only Top 10 With On-Chain Governance </h2>
In addition to its historic governance vote, Cardano has emerged as the only top 10 cryptocurrency by <a href="https://www.newsbtc.com/news/cardano-soars-nearly-130-to-30-billion-climbs-to-9th-in-market-cap-rankings/amp/" target="_blank">market capitalization</a> to implement on-chain governance, setting a new benchmark for how blockchain ecosystems are managed and governed. 
According to a<a href="https://x.com/cardanians_io/status/1952379465515864529?s=46" target="_blank"> report</a> by Cardanians (CRDN) on X, the blockchain’s governance framework is actively functioning, with <a href="https://bitcoinist.com/cardano-39-proposals-under-new-budget-framework/amp/" target="_blank">39 treasury withdrawal proposals</a> currently open for voting. These proposals allow <a href="https://bitcoinist.com/next-cardano-hard-fork-5-key-changes-emurgo/amp/" target="_blank">Delegated Representatives (DReps)</a> and the broader community to directly participate in shaping the ecosystem by deciding which initiatives receive funding and move forward.
As of now, none of the other top 10 blockchains, including Bitcoin, Ethereum, XRP, USDT, Binance Coin, Solana, USDC, Tron, and Dogecoin, have matched Cardano’s level of on-chain decision-making power. While these cryptocurrencies continue to lead in various areas, Cardano stands out as the <a href="https://bitcoinist.com/cardano-dogecoin-shiba-inu/amp/" target="_blank">10th-largest cryptocurrency</a> by market cap with a uniquely advanced governance system.
<figure><img src="https://www.tradingview.com/x/rz1htalW/" alt="Cardano" /><figcaption>ADA trading at $0.74 on the 1D chart | Source: ADAUSDT on <a href="https://www.tradingview.com/x/rz1htalW/" target="_blank">Tradingview.com</a></figcaption></figure>
Featured image from Adobe Stock, chart from Tradingview.com
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NewsBTC

Cardano Marks Historical Milestone With Governance Vote, Hoskinson Reacts

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Cardano price has plunged into a bear market, falling by over 55% from its highest point in November last year.
Cardano (<a target="_blank" href="https://crypto.news/price/cardano/">ADA</a>) dropped to $0.587 and is at risk of more downside as key metrics deteriorate and a bearish pattern forms.
DeFi Llama <a href="https://defillama.com/chain/cardano" target="_blank">data shows</a> that the total value locked has plunged by 15% in the last 30 days to $324 million. Only eight dApps in the ecosystem have a total value locked of over $10 million. 
Cardano’s DeFi TVL has been overtaken by many newly formed blockchains like Unichain, Sonic, Sui, Sei, and Berachain. That is a sign that the network is not gaining traction among investors and developers.
Additional data indicates that Cardano’s stablecoin supply has remained at $30 million over the past few months. This is a small number considering the stablecoin industry is valued at over $250 billion.
Worse, many Cardano stablecoins have <a href="https://defillama.com/stablecoins/Cardano" target="_blank">depegged</a> and are trading below $1. Moneta, Anzens, and Djed have all dropped to $0.98, much lower than $1. The biggest stablecoins in crypto, like USDT, USDC, PYUSD, and RLUSD, have all avoided Cardano despite its size.
Further, Cardano’s DEX volume is minuscule, a sign that just a few people are interacting with the network. Cardano’s <a href="https://defillama.com/dexs/chain/cardano" target="_blank">DEX volume</a> in the last 30 days was $99 million. 
In contrast, Base, a layer-2 network created in 2023, handled over $632 million in the last 24 hours. Unichain, which Uniswap (<a target="_blank" href="https://crypto.news/price/uniswap/">UNI</a>) launched in March, <a href="https://defillama.com/dexs/chain/unichain" target="_blank">handled</a> over $203 million in this period. 
Charles Hoskinson and the Input Output team are working on several initiatives to boost its ecosystem growth, but it is unclear whether they will lead to more robust expansion.
They are building Leios, an update to Cardano that will introduce parallel processing, increasing throughput. It will also have a unique structure comprising input blocks to collect and aggregate transactions, endorsement blocks to verify and approve them, and confirmation blocks to finalize them.
Midnight, on the other hand, is a layer-2 network that employs zero-knowledge proofs to enhance transaction privacy. While these initiatives are promising, it is unclear whether they will attract developers to Cardano.
<h2>Cardano price technical analysis</h2>
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<figcaption>ADA price chart | Source: <a target="_blank" href="https://crypto.news/price/cardano/">crypto.news</a></figcaption></figure>
The daily chart points to more ADA price sell-off. It remains below the 61.8% Fibonacci retracement level. It has also moved below the 50-day and 100-day moving averages and has formed a large descending channel.
Cardano price has also formed an inverse cup-and-handle pattern, a common bearish continuation signal. It is now in the handle section, and a drop below the lower side will point to further downside, potentially to the 78.6% retracement point at $0.50.
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Btcmanager

Cardano price at risk as key ecosystem metrics tumble

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								Cardano’s governance experiment took a decisive step forward on 5 June, when Intersect—a member-based organisation tasked with stewarding the blockchain’s transition to on-chain self-rule—published its first Budget Info Action (BIA). The nine-minute <a href="https://x.com/IntersectMBO/status/1930902976387797172" target="_blank">overview</a> lays out 39 community-driven proposals that Delegated Representatives (DReps) have already signalled for funding. “The Budget Info Action brings together 39 proposals that reflect where the community sees opportunities, needs, and momentum,” Intersect explained, stressing that the roadmap was drafted “by a network of builders, researchers, developers, and contributors working together to deliver real value.”
<h2>Cardano’s Next Chapter Begins</h2>
The package reveals where Cardano’s stakeholders think resources will matter most over the next 18 months. Nearly half the proposals address performance at the protocol layer. Input Output Global (IOG) seeks continued maintenance budgets for <a href="https://bitcoinist.com/cardano-next-steps-hydra/" target="_blank">Hydra</a>, its off-chain state-channel suite, and <a href="https://bitcoinist.com/cardano-publishes-mithril-2-paper/" target="_blank">Mithril</a>, the fast-sync protocol designed to make full-node deployment as effortless as setting up a light wallet.
IOG also asks for funding to refine stake-pool-operator (SPO) incentives, overhaul fee mechanics, and roll out new developer-testing pipelines. Two experimental designs—<a href="https://bitcoinist.com/cardano-leios-11000-tps-infinite-scalability/" target="_blank">Leios </a>and Peras—would push finality toward sub-second territory and multiply throughput without compromising decentralisation. Tweag, best known for its Haskell and formal-verification expertise, proposes multi-year stewardship of the critical libraries on which both the consensus layer and off-chain tooling depend.
Governance tooling emerges as the second-largest theme. A refreshed “Catalyst 2.0” initiative would wire treasury voting directly into CIP-1694 governance flows, ending the separation between project funding rounds and constitutional decision-making. Complement Catalyst—a proposal from social-impact startup Socious—introduces quadratic funding weighted by on-chain reputation scores, a mechanism it says will “boost fairness, transparency, and community impact.” Cardano Builder DAO wants a smart-contract-controlled endowment that can approve application-layer grants autonomously, while the “Beyond Minimum Viable Governance” report promises the first data-driven audit of how Voltaire-era institutions are actually functioning in practice.
Developer experience and open-source infrastructure form the third pillar. MLabs asks to maintain Plutarch, CardanoOps, and Hermes, three projects it argues “remove friction for DApp teams by letting them focus on product, not plumbing.” Pallas would continue curating the Rust libraries that power lightweight indexers and explorers, while Blockfrost seeks to keep its plug-and-play API free at the point of use. NFTCDN proposes a global, cost-free content-delivery network for native assets so marketplaces can serve media files “with Web-2 latency but Web-3 integrity.”
A cluster of proposals focuses on resilience and security. Dolos, a lightweight data-node implementation, promises “high-integrity ledger queries with minimal resource overhead,” a feature aimed at mobile developers and IoT deployers. TxPipe wants to maintain its open-source RPC server that already backs dozens of wallets, explorers, and analytics dashboards. In parallel, Eternl requests funds for ongoing hardware-wallet integration, and an independent team proposes a full rewrite of Ledger’s Cardano application to unlock advanced multi-sig features. Sundae Labs and Xerberus have submitted an auditable smart-contract framework that will govern how treasury withdrawals are disbursed, exposing live dashboards so ADA holders can watch spending as it happens.
Education, outreach, and real-world adoption round out the slate. Discover Cardano plans branded pavilions at major tech expos, offering what it calls “shared spaces to amplify the voice of Cardano’s community and lower barriers for builders.” A linked proposal seeks to centralise global events marketing so that every Summit-style gathering has consistent branding and clear onboarding funnels. On the utility front, Anzens wants funds to expand access to USDA, a USD-backed stable-asset issued natively on Cardano, through exchange listings, institutional custody, and cross-border settlement pilots. Meanwhile, MLabs’ cryptography team outlines a toolkit for privacy-preserving smart contracts that could enable anonymous voting, shielded identity credentials, and confidential DeFi.
<h2>What’s Next?</h2>
Each item in the BIA is advisory for now. Under CIP-1694, ADA holders have a 30-day review window to approve or reject the bundle. If passed, Intersect will translate the document into one or more Treasury Withdrawal actions that carry hard spending authority and require a two-thirds super-majority on-chain. The organisation has floated splitting the withdrawals into tranches so that “funds are released only as milestones are met,” a safeguard meant to reassure both sceptical stakeholders and external regulators that Cardano can allocate capital with the same rigour expected of a public-sector budget.
In publishing the BIA, Intersect framed the moment as a stress-test for decentralised governance. “This isn’t just a budget,” the post reads. “It’s a signal that Cardano’s ecosystem is ready to deliver.” If the community ratifies the 39-proposal slate, Cardano will move beyond ad-hoc Catalyst rounds toward a predictable, constitutional funding cycle—transforming Voltaire’s aspirational blueprint into the network’s first working balance sheet.
At press time, ADA traded at $0.661.
<figure><img src="https://bitcoinist.com/wp-content/uploads/2025/06/ADAUSDT_2025-06-06_15-56-28.png?resize=1024%2C454" alt="Cardano price" srcset="https://bitcoinist.com/wp-content/uploads/2025/06/ADAUSDT_2025-06-06_15-56-28.png?w=3628 3628w, https://bitcoinist.com/wp-content/uploads/2025/06/ADAUSDT_2025-06-06_15-56-28.png?w=640 640w, https://bitcoinist.com/wp-content/uploads/2025/06/ADAUSDT_2025-06-06_15-56-28.png?w=768 768w, https://bitcoinist.com/wp-content/uploads/2025/06/ADAUSDT_2025-06-06_15-56-28.png?w=980 980w, https://bitcoinist.com/wp-content/uploads/2025/06/ADAUSDT_2025-06-06_15-56-28.png?w=1536 1536w, https://bitcoinist.com/wp-content/uploads/2025/06/ADAUSDT_2025-06-06_15-56-28.png?w=2048 2048w, https://bitcoinist.com/wp-content/uploads/2025/06/ADAUSDT_2025-06-06_15-56-28.png?w=750 750w, https://bitcoinist.com/wp-content/uploads/2025/06/ADAUSDT_2025-06-06_15-56-28.png?w=1140 1140w, https://bitcoinist.com/wp-content/uploads/2025/06/ADAUSDT_2025-06-06_15-56-28.png?w=3000 3000w" /><figcaption>ADA price, 1-week chart | Source: <a href="https://www.tradingview.com/x/KB69hzI3/" target="_blank">ADAUSDT on TradingView.com</a></figcaption></figure>
Featured image created with DALL.E, chart from TradingView.com
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Bitcoinist

Cardano Unveils 39 Proposals Under New Budget Framework

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<ul>
<li>Institutional Recognition &amp; ETF Inclusion – Cardano’s inclusion in Grayscale’s proposed spot ETF and the U.S. Crypto Reserve has boosted its credibility, driving institutional interest and reinforcing its position as a mainstream digital asset.</li>
<li>Technological Advancements &amp; Real-World Use Cases – Innovations like Hydra scaling, governance upgrades (CIP 1694), and enterprise adoption in supply chain tracking, education credentials, and public sector solutions solidify Cardano’s long-term utility.</li>
<li>Investment Outlook &amp; Market Positioning – With growing DeFi adoption, strategic partnerships, and regulatory recognition, ADA is positioned as a strong contender in the blockchain space, offering a compelling opportunity for investors.</li>
</ul>
Cardano (<a href="https://finance.yahoo.com/quote/ADA-USD/" target="_blank" title>$ADA</a>) isn’t just another blockchain project—it’s a meticulously designed ecosystem driven by Charles Hoskinson’s long-term vision. As the platform transitions into the Voltaire era, its goal is clear: fully decentralized governance, seamless scalability, and global adoption. Cardano aims to position itself as the backbone of large-scale operations, and Hoskinson even suggests that by 2030, it could power the infrastructure of a nation-state with tens of millions of citizens. Ambitious? Absolutely. Impossible? Not at all.
To make this vision a reality, Cardano is pioneering governance structures like on-chain voting and a blockchain constitution. However, scalability remains at the core of its evolution. Sidechains, Layer-2 solutions, and “partner chains” are all being integrated to handle billions of users without compromising security or decentralization.
But technical advancements alone won’t drive mass adoption. Two major developments—Grayscale’s ETF inclusion and the U.S. Crypto Reserve endorsement—are pushing Cardano toward mainstream credibility.
<h3>Institutional Confidence: The Grayscale ETF Factor</h3>
One of the most significant milestones in ADA’s journey came with its inclusion in <a href="https://www.grayscale.com/crypto-products/grayscale-smart-contract-fund" target="_blank" title>Grayscale’s</a> proposed spot Cardano ETF. This move signals a massive shift in how institutional investors perceive ADA. If approved, the ETF will offer a seamless way for traditional investors to gain exposure to ADA without the complexities of direct crypto ownership.
The <a target="_blank" href="https://blocknews.com/everything-you-need-to-know-about-robinhoods-upcoming-prediction-market-launch/">impact</a> was immediate—ADA surged over 11% on the announcement, outperforming Bitcoin and Ethereum. A spot ETF would mean increased liquidity, improved visibility, and strengthened credibility. If greenlit, it would mark the first-ever U.S. spot ADA ETF, reinforcing Cardano’s standing in traditional finance.
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<h3>U.S. Crypto Reserve: A Game-Changer for ADA</h3>
While Wall Street’s embrace of Cardano is significant, an even bigger milestone cemented its legitimacy—Cardano’s inclusion in the U.S. Crypto Strategic Reserve. In March 2025, the U.S. government designated ADA as one of five key digital assets to be held in the national reserve, alongside Bitcoin, Ethereum, XRP, and <a href="https://www.vaneck.com/lu/en/investments/solana-etp" target="_blank" title>Solana</a>.
The market reaction was electric. ADA skyrocketed 60% in the days following the <a target="_blank" href="https://blocknews.com/everything-you-need-to-know-about-president-trumps-550-million-wlfi-crypto-token-sale/">announcement</a>, jumping from $0.60 to $1.05. While broader market fluctuations, including new tariff announcements, later impacted the price, the event solidified Cardano’s status as a strategic digital asset. Institutional investors took note, and on-chain data showed long-term ADA holders increasing their positions, reducing sell pressure, and contributing to price stability.
Beyond price action, this <a target="_blank" href="https://blocknews.com/top-3-governments-holding-massive-bitcoin-reserves-should-investors-be-worried/">government</a> endorsement could accelerate institutional adoption and push regulators toward clearer crypto policies. Being part of a national reserve underscores ADA’s reliability as a decentralized yet secure asset.
<h3>DeFi Expansion and Real-World Applications</h3>
Cardano’s DeFi ecosystem has been making waves. In Q4 2024, <a href="https://santiment.net/" target="_blank" title>Total Value Locked</a> (TVL) grew 13%, reaching $231 million. Leading platforms like Liqwid Finance and Minswap have driven this surge, with DEX trading volumes skyrocketing 270%.
Stablecoins have also played a crucial role. USDM, backed by Moneta, has injected $10M+ liquidity into the ecosystem, while USDA, launched by Anzens, has rapidly gained traction, accumulating $6M in liquidity on Minswap.
Beyond DeFi, Cardano is making strides in real-world applications:
<ul>
<li>Supply Chain Tracking: Used for verifying Georgian wine exports.</li>
<li>Education Credentials: <a target="_blank" href="https://blocknews.com/cardano-ada-showing-signs-of-a-reversal-can-it-break-1-10/">Powering</a> blockchain-based academic verification systems.</li>
<li>Law Enforcement &amp; Public Sector: Implementing ballistic fingerprinting and real estate transaction verification.</li>
<li>NASA Partnership: Assisting with satellite data tracking and analysis, an area where other blockchains have struggled to keep up.</li>
</ul>
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<blockquote>🥳 Specific altcoins like Cardano are seeing high positive sentiment on social media. Aided by the fact that the SEC classified <a target="_blank" href="https://twitter.com/search?q=%24ADA&amp;src=ctag&amp;ref_src=twsrc%5Etfw">$ADA</a>'s use case as "smart contracts for government services", the altcoin's community has pushed up bullishness to its highest rate in over 4 months. <a target="_blank" href="https://t.co/viUVgjYNAX">pic.twitter.com/viUVgjYNAX</a>— Santiment (@santimentfeed) <a target="_blank" href="https://twitter.com/santimentfeed/status/1902149722590343450?ref_src=twsrc%5Etfw">March 19, 2025</a></blockquote>
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<h3>Cardano’s Competitive Edge in Blockchain</h3>
Cardano isn’t just another smart contract platform—it offers something distinct in a competitive landscape:
<ul>
<li>Reliability: No <a target="_blank" href="https://blocknews.com/binance-flips-ethereum-and-solana-is-binance-smart-chain-about-to-take-over-crypto/">major</a> outages, unlike Solana.</li>
<li>Predictable Fees: Unlike Ethereum’s gas price volatility.</li>
<li>Scalability &amp; Governance: Transitioning to on-chain governance (CIP-1694) and implementing Hydra for next-level efficiency.</li>
</ul>
“Governments and organizations globally see the benefits of blockchain, but adoption hinges on regulatory clarity. With a secure, research-driven foundation and a thriving ecosystem, Cardano is ready to meet this moment,” said Renagh Ni Mhaonaigh, a representative of the <a href="https://cardanofoundation.org/" target="_blank" title>Cardano Foundation</a>.
<h3>Investment Outlook: ADA’s Strategic Positioning</h3>
With strong institutional backing, cutting-edge technological advancements, and growing adoption across multiple sectors, Cardano is well-positioned for long-term success. Key factors supporting ADA’s investment appeal include:
<ul>
<li><a target="_blank" href="https://blocknews.com/dogecoin-breaks-into-wall-streets-inner-circle-can-memecoins-keep-up-the-momentum/">Institutional</a> Buy-In: The Grayscale ETF and U.S. Crypto Reserve solidify its credibility.</li>
<li>Technology Leadership: Governance, scalability, and interoperability place it among top-tier Layer-1 blockchains.</li>
<li>Expanding Use Cases: From DeFi to enterprise applications, Cardano is proving its real-world value.</li>
</ul>
Short-term volatility is inevitable, but Cardano’s trajectory suggests it’s evolving into a mature, institutionally recognized blockchain platform.
<h3>Conclusion: A Blockchain for the Future</h3>
Cardano is no longer just a promising project—it’s a blockchain that’s proving its worth on a global scale. Institutional acceptance, regulatory endorsements, and continuous innovation make ADA one of the most compelling digital assets in the market today.
For investors, Cardano offers a unique blend of technological innovation, <a target="_blank" href="https://blocknews.com/trons-justin-sun-stakes-60000-eth-worth-100-million-here-is-why/">institutional</a> recognition, and real-world utility. As it continues to expand, ADA stands as a powerful force in shaping the next generation of blockchain-powered finance and digital infrastructure.
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Anzens ($USDA)

Issuer of USDA, a fully reserved stablecoin built for Cardano. Enabling digital dollar transactions with compliance and security in mind.

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