TheADA is a Decentralized and Scalable NFT Staking Protocol, governed by the community. Cardano is the market leader in PoS as a collection of protocols for economic support to billions of people. Over the last decade, the decentralized Finance (DeFi) space has been forced to evolve to keep pace with the development of the digital asset market. TheADA protocol will power foundational the new wave of flexible financial markets by providing a layer for instant stake approval, automated APR, trustless custody, and liquidity.&nbsp;We believe Cardano will mature to be the Layer 1 platform of choice as developers and investors recognize the network’s potential to challenge the embedded status quo of monopolistic power structures within the world of crypto. As such, Cardano focuses on moving toward an all-inclusive technological standard and open platform with unmatched security and tremendous blockchain speed, all of which result in lower transaction fees. Since the Cardano project is under the administration of a non-profit foundation and offers many advanced functionalities, we project that most future blockchain and crypto projects will look to Cardano as the better option against its competitors.

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You are here: <a target="_blank" href="https://www.tronweekly.com/">Home</a> / <a target="_blank" href="https://www.tronweekly.com/category/news/">News</a> / Cardano’s 490 SATS Target: Analyst Faces Severe Backlash<article><div>
<ul>
<li>Benjamin Cowen faced criticism for his bearish prediction on Cardano (ADA), which accurately targeted a decline to 490 SATS in October 2023.</li>
<li>Cardano supporters accused Cowen of influencing market sentiment negatively due to his large following, while he defended his position, stating analysts aren’t responsible for market movements.</li>
<li>As ADA trades at $0.3311, down 4.61% weekly, the controversy highlights concerns about the impact of social media influencers on cryptocurrency market dynamics.</li>
</ul>
Veteran trader and analyst Benjamin Cowen has found himself at the center of controversy following the realization of his bearish prediction for Cardano (ADA). After forecasting a significant downturn for ADA in August 2023, Cowen recently took to social media to address critics accusing him of influencing the asset’s price trajectory.
Cowen’s forecast that ADA would capitulate against Bitcoin, targeting 400 SATS, materialized in October 2023, with the ADA/BTC trading pair hitting the predicted 490 SATS level. Now, as the trading pair sits around 481 SATS, the crypto community is abuzz with debate about the analyst’s role in ADA’s price woes.
Following the accuracy of his prediction, Cowen posted on X (formerly Twitter) to acknowledge his forecast’s success, leading to a storm of responses. Several prominent Cardano enthusiasts, particularly from the ADA community, accused Cowen of worsening ADA’s decline through his large audience and consistent coverage.
One key figure in the debate is “Cardano Whale,” a notable ADA supporter, who alleged that Cowen’s regular updates on Cardano’s potential capitulation contributed to negative market sentiment. The critic claimed Cowen “shilled” ADA’s downturn to nearly 1 million followers, which could have influenced the decisions of individual investors.
In response, Cowen <a href="https://x.com/intocryptoverse/status/1853520632039752158" target="_blank">defended</a> his position, stating that while his audience is extensive, he doesn’t control market movements. He further emphasized that being an analyst entails both correct and incorrect calls, and the responsibility lies with investors to make informed decisions. Cowen remarked, “Blaming an analyst for price declines is a misguided approach.”
Despite his defense, Cardano supporters argue that analysts with large followings can influence markets. One user pointed out that having 800,000 followers could indeed sway investor decisions, as people often rely on reputable analysts for guidance. However, Cowen dismissed the idea, reiterating that while he shares his perspectives, he isn’t responsible for individual market moves.
<h2>Cardano Community Reaction and Market Impact</h2>
The discussion surrounding Cowen’s impact reflects broader concerns within the crypto community about the influence of social media figures. Another X user shared a similar encounter with the <a href="https://www.tronweekly.com/?s=cardano" target="_blank">Cardano</a> advocate, who reportedly attacked him for his analysis of ADA’s potential decline.
The controversy comes as ADA experiences additional market pressure. The token, which is the 11th largest cryptocurrency by market cap, recorded a broader market correction in recent days. ADA currently trades at $0.3311, down 4.61% over the past seven days and 5.18% month-over-month, mirroring bearish trends across the market.
As of now, the ADA/BTC trading pair is sitting at around 481 SATS, which is just below Benjamin Cowen’s forecast of 490 SATS. The current price of Cardano (ADA) is $0.3311, showing a decline of 4.61% over the last week. Despite this downturn, ADA retains its position as the 11th largest cryptocurrency, boasting a market capitalization of roughly $11.5 billion.
Cowen’s defense raises an important question about the role of social media influencers and analysts in shaping crypto market sentiment. With over 800,000 followers, Cowen’s voice holds weight, though he insists on transparency about the speculative nature of his predictions.
As Cardano’s price continues to fluctuate, the discussion may prompt further reflections on how public figures shape market perceptions in a still-maturing crypto landscape. Whether ADA bulls accept Cowen’s argument or continue to attribute ADA’s struggles to his forecast, the conversation underscores the intersection between influence and accountability in the digital asset world.
</div></article>

Tron Weekly

Cardano's 490 SATS Target: Analyst Faces Severe Backlash

<div><article><div><figure><img src="https://image.coinpedia.org/wp-content/uploads/2024/10/09140258/This-Altcoin-May-be-in-Danger-Bears-Preparing-for-Major-Shift-Heres-What-to-Expect.webp" alt="Why the Crypto Market Is Down Today" srcset="https://image.coinpedia.org/wp-content/uploads/2024/10/09140258/This-Altcoin-May-be-in-Danger-Bears-Preparing-for-Major-Shift-Heres-What-to-Expect.webp 1200w, https://image.coinpedia.org/wp-content/uploads/2024/10/09140258/This-Altcoin-May-be-in-Danger-Bears-Preparing-for-Major-Shift-Heres-What-to-Expect-300x157.webp 300w, https://image.coinpedia.org/wp-content/uploads/2024/10/09140258/This-Altcoin-May-be-in-Danger-Bears-Preparing-for-Major-Shift-Heres-What-to-Expect-1024x536.webp 1024w, https://image.coinpedia.org/wp-content/uploads/2024/10/09140258/This-Altcoin-May-be-in-Danger-Bears-Preparing-for-Major-Shift-Heres-What-to-Expect-768x402.webp 768w" /></figure></div><div>The third-generation token, Cardano, rose to fame before the second phase of the 2021 bull run after rising above $3, but it has failed to attract users’ attention since then. Although the start of the year triggered significant bullish waves, the token failed to keep up the upswing, and a notable shift was observed away from crypto. As a result, the <a href="https://coinpedia.org/price-prediction/cardano-price-prediction/" target="_blank">ADA price</a> has been ranging within an extended consolidation phase, which may compel the token to maintain a sluggish trend for the rest of 2024. Will the ADA price ever reach $1?Ever since the price dropped from $0.5, the bears have held a strong grip over the rally. They have been restricting the rally from revamping a powerful ascending trend that could have elevated the price beyond the bearish captivity. However, the decrease in the volume validates the traders being repulsive, which could be a matter of concern for the ADA price rally. Meanwhile, some indicators suggest a lower possibility of a rebound, which may be stabilised if the bulls manage to push the prices above the pivotal ranges. <figure><img src="https://lh7-rt.googleusercontent.com/docsz/AD_4nXca3LIR2G_3yvQD8727r-ghOycf1A--X0Cr_Wiay3Wk2qm3DHswW1ToW3CnvVynontAC_zzCkzOWHxxbrCZf_AMEjFRpAOu_ARGeEtuuaGfKyS1W276uIfATQtUJ3kghhucnOOR94R9r7J8MO30O9Sw4I5b?key=CoiWHRmnTvcl3GvvnL86W4On" alt /></figure>The long-term price action remains prone to an extended bearish action as the trade is stuck within a descending parallel channel. Meanwhile, the price is stuck around the average bands of the channel, suggesting the trend is within a decisive range. However, the token is trading along the average bands, indicating a significant decrease in the volatility of the token. Also, the depleting on-balance volume validates the bearish claim, pointing towards a drop in the trader’s interest, which could be a huge matter of concern. Besides, the RSI displays fewer chances of a rebound as it aims to rise above the ascending trend line. If the levels reclaim above the zone, there could be some possibility of rising above the average bands of the channel. Meanwhile, the bears have held the levels around $0368 as the token is failing to rise above the zone. The market dynamics appear to be waiting for the U.S. elections and the result is expected to increase the volatility among the markets. In such a scenario, the Cardano (ADA) price could rise above $0.4, which could break the descending parallel channel and initiate a fresh ascending trend ahead. </div> </article><div><h2>We'd Love to Hear Your Thoughts on This Article!</h2><div><h4>Was this writing helpful?</h4></div></div> </div>

Coinpedia

This Altcoin is Dead-No Matter Trump Wins or Harris— It May Remain Consolidated Below the Range

<article>
<div>
		<ul>
<li>Cardano launched Node 10.11, enabling a full on-chain governance model.</li>
<li>The update allows ADA holders to delegate their voting power.</li>
</ul>
<hr />
Cardano has officially<a href="https://www.intersectmbo.org/news/cardano-node-10.1.1-is-ready" target="_blank"> introduced </a>Node 10.11, a significant upgrade for its blockchain ecosystem that enhances decentralized governance capabilities. This mainnet release, launched by Intersect MBO on November 1, marks the network’s transition from a technical bootstrapping phase to a fully on-chain governance model, setting a new standard for user-driven decision-making on Cardano.
Node 10.11 provides essential<a href="https://www.crypto-news-flash.com/cardano-news-hoskinson-hints-at-nintendo-emulator-on-hydra-l2-ada-readies-for-bullish-path/" target="_blank"> enhancements to the governance</a> of the Cardano ecosystem. Some of the new features include Stake Pool Operators (SPOs) casting their votes to the fixed options, making governance participation easier. Furthermore, Delegated Representatives (DReps) obtain an auto-abstain capability, allowing ADA holders who want to participate less actively in the voting process to do so.
This upgrade also incorporates enhancements to the ledger, command-line interface (CLI), application programming interface (API), and networking of Cardano to ensure robust on-chain voting and better user experiences. Intersect MBO notes that the Chang #2 upgrade finalises Cardano’s governance shift that began with the first Chang update and was bootstrap.
<h3>ADA Holders Take Active Role in Governance</h3>
In the new Chang #2 model, ADA holders are invited to be more involved in the decision-making of Cardano’s ecosystem. Following the first Chang on 1st September, the ADA holders have been able to delegate the governance powers to the DReps or express themselves, <a href="https://www.crypto-news-flash.com/cardanos-chang-2-upgrade-five-transformative-changes-to-look-out-for/" target="_blank">as previously reported</a> by Crypto News Flash.
With Chang #2, delegation becomes necessary for ADA holders who want to withdraw staking rewards, thus increasing the participation of the holders in decision-making in the network. The new proposal states that ADA holders can receive staking rewards without delegation; however, withdrawals will only be possible when the holder delegates their stake to a DRep or selects an auto-abstain or no-confidence option.
According to Intersect MBO, these measures will encourage ADA holders to interact with Cardano’s decentralized governance, thus bringing Cardano closer to the vision of a community-managed blockchain.
After the successful Chang #2 hard fork, the future of the Cardano blockchain will be decided by the decentralized governance procedures of CIP-1694. This structural evolution makes Cardano one of the <a href="https://www.crypto-news-flash.com/cardano-news-market-expert-aims-for-5-ada-calls-out-analyst-criticism/" target="_blank">key members of the blockchain industry,</a> with a focus on openness and community.
<h3>Analyst Predicts Cardano Price Surge </h3>
As Cardano goes through this major overhaul of its governance structure, pseudonymous crypto analyst Madmaudo<a target="_blank" href="https://www.tradingview.com/chart/ADAUSD/UNYJcUCx-ADA-weekly-Chart/"> has predicted</a> that Cardano may be finally experiencing the much-awaited price rally soon, possibly nearing the price of $3.10, which was the coin’s previous highest.  Cardano (ADA), the world’s eleventh-largest cryptocurrency as per market capitalization, has been ranging between $0.3346 and $0.369 in the past month.
As Madmaudo highlighted in his analysis on Nov 2, Cardano’s price<a href="https://www.crypto-news-flash.com/cardano-news-market-expert-aims-for-5-ada-calls-out-analyst-criticism/" target="_blank"> will break out</a> from a multi-year descending triangle pattern that has contained its movement since it reached its yearly high at $0.7741 in March. Madmaudo anticipates ADA to rise by 88% and approach the former high as it converges towards a $3 benchmark.
Madmaudo’s analysis uses the Fibonacci retracement tool to explain potential levels that ADA may revisit on its way to the upside. He projects that ADA may first advance to $1.2253, corresponding to the 38.2% Fibonacci level, then rise further to $1.5808 and reach $1.9362 at the 61.8% level.
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	</div>
This article is provided for informational purposes only and is not intended as investment advice. The content does not constitute a recommendation to buy, sell, or hold any securities or financial instruments. Readers should conduct their own research and consult with financial advisors before making investment decisions. The information presented may not be current and could become outdated.			</article>

Crypto News Flash (EN)

Cardano Embraces Decentralization, But Community Remains Divided on Hoskinson’s Role

Cardano Node v10.1.1 Release<a href="https://github.com/IntersectMBO/cardano-node/releases/tag/10.1.1">Cardano Node 10.1.1</a> is here. This is the first Mainnet release node capable of passing the Chang #2 inter-era hard fork. The Chang upgrade #2 brings full on-chain governance as described in <a href="https://github.com/cardano-foundation/CIPs/tree/master/CIP-1694">CIP-1694</a>, ending the current bootstrap governance phase that started with the Chang upgrade #1 hard fork on September 1st.This node includes several improvements to the governance system, including support for SPO delegation to pre-defined voting options. It also enables new Plutus primitives as defined in <a href="https://github.com/cardano-foundation/CIPs/tree/master/CIP-0122">CIP-0122</a>, <a href="https://github.com/cardano-foundation/CIPs/tree/master/CIP-0123">CIP-0123</a>, and <a href="https://github.com/cardano-foundation/CIPs/tree/master/CIP-0127">CIP-0127</a>. Finally, it includes several other improvements to the ledger, CLI, API, and networking code bases. Please take time to read the release notes, as there are some breaking changes as old features are phased out.Understanding the Chang UpgradeChang is a pivotal upgrade designed to implement the final features of Cardano’s minimum viable on-chain governance. This process is deeply rooted in the principles proposed during the Voltaire age of Cardano’s roadmap and detailed in CIP-1694. To ease adoption, the upgrade has been implemented in two main phases: Chang #1 and Chang #2.This second phase, Chang upgrade #2, will move the Cardano blockchain out of the bootstrap governance it has been operating under since Chang upgrade #1. This has allowed a necessary step change for initial onboarding and governance participation.Impact on the Cardano ecosystemThis Chang upgrade #2 affects the Cardano ecosystem as full on-chain governance comes online. Since September 1st, every ada holder can participate by delegating to delegate representatives (DReps) or standing to become a DRep themselves. More can be found on <a href="https://www.intersectmbo.org/news/governing-cardano-with-delegated-representatives">DReps here</a>.Important note: Following the Chang #2 upgrade, ada holders will need to delegate to a DRep to withdraw staking rewards. Rewards will continue to accrue to the ada holder typically, regardless of whether or not a DRep is delegated to. However, withdrawals will only be possible once an ada holder has delegated to a DRep or chosen the auto-abstain/no-confidence option.&nbsp;<a href="https://gov.tools/">Delegate or become a DRep now</a>Technical DetailsAs per any major release, the community is advised to refer to the full release notes regarding node 10.1.1, which can be found <a href="https://github.com/intersectmbo/cardano-node/releases">here on the Intersect GitHub repository</a>. There are a number of potentially breaking changes to be aware of, including modifications to era-agnostic commands. The hard fork working group will hold a number of technical Q&amp;A sessions, which will be announced soon and found through the Intersect Discord events calendar.&nbsp;EnactmentThe governance design, including the interim constitution, states that a hard fork governance action needs to pass two thresholds for this upgrade to be enacted on the chain. Hard fork enactment will require a constitutional vote from the Interim Constitutional Committee (ICC) and a vote of 51% by stake from SPOs. Once these have been met, the hard fork will be enacted on the chain following a one-epoch ratification period.Notes for SPOs, exchanges and DAppsLike all previous upgrades, Stake Pool Operators (SPOs) must upgrade to the latest mainnet, hard fork-capable node candidate, <a href="https://github.com/IntersectMBO/cardano-node/releases/tag/10.1.1">version 10.1.1</a>. Details on the latest releases can be found on Intersect GitHub. Intersect will coordinate updates and share information on downstream components needing upgrading to ensure compatibility. Separately and importantly, SPOs must vote on the hard fork governance action once they assess the ecosystem as being ready.There are no special requirements for Exchanges and DApps for this inter-era hard fork other than to reference the release notes and upgrade. Decentralized applications may need to be prepared by testing with the latest node release. Specific changes required will vary DApp to DApp.Exchanges play a critical role in Cardano's liquidity and stability. They must ensure their systems are compatible with the new node to support seamless transactions and operations post-upgrade.Timeline and ExpectationsThe timeline for Chang upgrade #2 will be determined by interim constitution and enacted upon approval from the ICC and SPOs. The knowledge base provides further breakdown and details of these.&nbsp;&nbsp;<img class="image_resized" style="width:780px;" src="https://lh7-rt.googleusercontent.com/docsz/AD_4nXerEIbXPPTOiKkbguRND-8Su169v8goJ3va_9c6FDYmXZFOLAS7yu8cIq5MUYGybqAZ2er8A6UPp68se8J7U0oYDRYlesEE2wCzQQMXPy3N3q9lzVA_x8XgOciWycP4Gw-ZUgFtEh7apzMy62stUaTn8go?key=xe1A3pluyzlKvEmRqAIcTdP6" loading="lazy">Intersect will host and facilitate a similar ecosystem readiness page as previous hard forks, presenting the latest status across Cardano. The readiness page will reference governance actions about the upgrade so that you can follow the sequence and status as we move through the upgrade process.What happens after Chang upgrade #2Following a successful Chang #2 hard fork, decisions on the Cardano blockchain will be shaped and voted on via fully decentralized governance, as detailed in CIP-1694. There are many exciting ways to participate in this new governance.<ul><li>Delegate to a DRep or become one yourself via <a href="https://gov.tool/">Cardano’s GovTool</a></li><li>Join <a href="https://lu.ma/calendar/cal-mUnW4X66H0JRPQh">open sessions</a> with the hard fork working group and be part of the decision-making -&nbsp;</li><li>Join working groups and committees at Intersect to help craft and socialize proposals for on-chain governance and enactment, such as the budget for 2025. Jump into our <a href="https://discord.gg/RJWdVsMkvR">Discord</a>, <a href="https://twitter.com/IntersectMBO">X(formerly Twitter)</a>, or <a href="https://www.linkedin.com/company/intersectmbo">LinkedIn</a> pages.</li></ul>Stay Informed and EngagedVisit the <a href="https://docs.intersectmbo.org/cardano/cardano-upgrades/hard-forks/chang-upgrade">Chang Timeline &amp; Dependencies</a> on Intersect’s Knowledge Base and follow our social accounts to stay updated with the hard fork working group's progress over the coming weeks.The Chang upgrade is a monumental step toward decentralized governance in Cardano. By empowering the community with the tools and infrastructure needed to guide the protocol's development, Intersect is fostering a more inclusive and democratic ecosystem. As we approach the final stages of preparation, the Cardano community’s participation and readiness will be crucial in achieving a seamless transition to this new governance era. Stay tuned for more updates as we approach the hard fork event.&nbsp; &nbsp;

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