<p style="margin-left:0px;">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;</p><p style="margin-left:0px;">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.</p>

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The ADA

<div>
<p>Cardano has been under pressure and selling off in the past four months. From the ADAUSDT daily chart, it is evident that bears have been in control. After peaking in March, prices plunged by as much as 60% before finding support in mid-July. </p>
<p>Since then, ADA has recovered slightly, but bears have not relentred, especially this week. So far, ADA is still 50% after the spike in March. This set of conditions could explain traders’ bearish stance on multiple perpetual trading platforms like <a target="_blank" title="Binance" href="https://www.cryptobreaking.com/go/binance/">Binance</a> and <a target="_blank" title="OKX" href="https://www.cryptobreaking.com/go/okx/">OKX</a>. </p>
<p>The slip in ADA prices and the alignment of the trend to be bearish from March explain why the funding rate is negative and continues to increase.</p>
<h2>Time To Buy ADA Despite Extremely High Negative Funding Rates?</h2>
<p>Even so, not everyone is extremely bearish. Santiment analysts <a href="https://x.com/santimentfeed/status/1816212665699819550" target="_blank">note</a> that despite this state of affairs, ADA prices could, if anything, recover unexpectedly. They explained that the recent spike in negative funding rates, pointing to heightened selling activity, could offer a contrarian opportunity for aggressive traders.</p>
<p>Historically, Santiment analysts explained that prices tend to recover sharply in the sessions ahead whenever an asset is extremely sold, as is the case with ADA. Rapidly expanding prices tend to trigger a short squeeze, forcing sellers to buy at a higher price and fanning the uptrend.</p>
<p><img src="https://i0.wp.com/www.newsbtc.com/wp-content/uploads/2024/07/GTR7Qs-aYAEmItu.jpg?resize=788%2C521&amp;ssl=1" alt="ADA is oversold and may recover | Source: @santimentfeed via X" srcset="https://i0.wp.com/www.newsbtc.com/wp-content/uploads/2024/07/GTR7Qs-aYAEmItu.jpg?resize=788%2C521&amp;ssl=1?w=2755 2755w, https://i0.wp.com/www.newsbtc.com/wp-content/uploads/2024/07/GTR7Qs-aYAEmItu.jpg?resize=788%2C521&amp;ssl=1?w=460 460w, https://i0.wp.com/www.newsbtc.com/wp-content/uploads/2024/07/GTR7Qs-aYAEmItu.jpg?resize=788%2C521&amp;ssl=1?w=768 768w, https://i0.wp.com/www.newsbtc.com/wp-content/uploads/2024/07/GTR7Qs-aYAEmItu.jpg?resize=788%2C521&amp;ssl=1?w=860 860w, https://i0.wp.com/www.newsbtc.com/wp-content/uploads/2024/07/GTR7Qs-aYAEmItu.jpg?resize=788%2C521&amp;ssl=1?w=1536 1536w, https://i0.wp.com/www.newsbtc.com/wp-content/uploads/2024/07/GTR7Qs-aYAEmItu.jpg?resize=788%2C521&amp;ssl=1?w=2048 2048w, https://i0.wp.com/www.newsbtc.com/wp-content/uploads/2024/07/GTR7Qs-aYAEmItu.jpg?resize=788%2C521&amp;ssl=1?w=750 750w, https://i0.wp.com/www.newsbtc.com/wp-content/uploads/2024/07/GTR7Qs-aYAEmItu.jpg?resize=788%2C521&amp;ssl=1?w=1140 1140w" /></p>
<p>Nonetheless, this is not always the case, and this contrarian strategy should be taken cautiously. When a given asset is perceived as “extremely oversold,” prices can often dip even as analysts expect a recovery. </p>
<p>This may mean traders are unconvinced that the asset has what it takes to recover in the wave of intense selling pressure. In this case, traders have to stay safe and align with the primary trend—bearish.</p>
<h2>Cardano Whales Staying Away Ahead Of The Chang Hard Fork</h2>
<p>So far, parallel data from IntoTheBlock <a href="https://app.intotheblock.com/coin/ADA/deep-dive?group=ownership&amp;chart=concentration" target="_blank">points</a> to waning investor confidence. According to data, there has been a drop in whale inflow, a dent to the expected optimism. Still, this can be attributed to portfolio rebalancing that might impact inflows, among other factors.</p>
<p><img src="https://i0.wp.com/www.newsbtc.com/wp-content/uploads/2024/07/cardano-large-holders-data-850x567-1.png?resize=788%2C526&amp;ssl=1" alt="ADA whale flow | Source: IntoTheBlock" srcset="https://i0.wp.com/www.newsbtc.com/wp-content/uploads/2024/07/cardano-large-holders-data-850x567-1.png?resize=788%2C526&amp;ssl=1?w=850 850w, https://i0.wp.com/www.newsbtc.com/wp-content/uploads/2024/07/cardano-large-holders-data-850x567-1.png?resize=788%2C526&amp;ssl=1?w=460 460w, https://i0.wp.com/www.newsbtc.com/wp-content/uploads/2024/07/cardano-large-holders-data-850x567-1.png?resize=788%2C526&amp;ssl=1?w=768 768w, https://i0.wp.com/www.newsbtc.com/wp-content/uploads/2024/07/cardano-large-holders-data-850x567-1.png?resize=788%2C526&amp;ssl=1?w=750 750w" /></p>
<p>It remains to be seen how ADA will perform in the coming days. The Cardano development team is preparing for the Chang hard fork, which is set to conclude by the end of July. </p>
<p>This upgrade will decentralize the smart contracts platform by introducing elected delegate representatives tasked with shaping the Cardano constitution. The successful implementation of Chang will usher in the final development phase of Cardano, <a href="https://www.newsbtc.com/breaking-news-ticker/cardano-ada-soars-to-new-levels-iog-unveils-explosive-growth-in-key-metrics/" target="_blank">Voltaire</a>. In turn, this effectively decentralized the network, similar to Ethereum.</p>
<p> Source: <a target="_blank" href="https://www.newsbtc.com/news/cardano/cardano-down-sellers-unrelenting-best-time-to-buy-ada/">NewsBTC.com</a></p>
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Crypto Breaking

Cardano Down 50% In 4 Months: Sellers Unrelenting, Best Time To Buy ADA?

<div>
 <p><a target="_blank" href="https://zycrypto.com/wp-content/uploads/2024/03/Will-Cardano-Reach-8-In-This-Bull-Cycle-Market-Pundit-Reveals-ADA-Price-Trajectory-To-Expect.jpg"><img src="https://zycrypto.com/wp-content/uploads/2024/03/Will-Cardano-Reach-8-In-This-Bull-Cycle-Market-Pundit-Reveals-ADA-Price-Trajectory-To-Expect.jpg" srcset="https://zycrypto.com/wp-content/uploads/2024/03/Will-Cardano-Reach-8-In-This-Bull-Cycle-Market-Pundit-Reveals-ADA-Price-Trajectory-To-Expect.jpg 1200w, https://zycrypto.com/wp-content/uploads/2024/03/Will-Cardano-Reach-8-In-This-Bull-Cycle-Market-Pundit-Reveals-ADA-Price-Trajectory-To-Expect-300x175.jpg 300w, https://zycrypto.com/wp-content/uploads/2024/03/Will-Cardano-Reach-8-In-This-Bull-Cycle-Market-Pundit-Reveals-ADA-Price-Trajectory-To-Expect-1024x597.jpg 1024w, https://zycrypto.com/wp-content/uploads/2024/03/Will-Cardano-Reach-8-In-This-Bull-Cycle-Market-Pundit-Reveals-ADA-Price-Trajectory-To-Expect-768x448.jpg 768w" alt="Will Cardano Reach $8 In This Bull Cycle? Market Pundit Reveals ADA Price Trajectory To Expect" title="Will Cardano Reach $8 In This Bull Cycle Market Pundit Reveals ADA Price Trajectory To Expect" /></a></p>
<p>Things have not been quite rosy for Cardano (ADA), as bears continue to bite, diminishing trader sentiment.</p>
<p><span>Leading on-chain metrics provider Santiment <a href="https://x.com/santimentfeed/status/1813394536296772016" target="_blank">acknowledged this development:</a></span><em> “Cardano is seeing the most bearishness in over a year. Counter-trading the crowd’s consensus could prove profitable.”</em></p>
<figure><img src="https://lh7-rt.googleusercontent.com/docsz/AD_4nXeyAlfmwbyOfMf5GFGWrnSM1yiem9VlQlW4isFqlbzLL4PCEsWHMKhOto8jCold-5WDMLVV-Kk34QdQ8tkP1sB4oOKUsl60m_MJi4dRBiqSOmJ8JfatujXoOLXytQ2r1M-t3bUZxQ6aUemPoPMZVUw_0t1D?key=h706mWovYP_x-4fZvcukKQ" alt /><figcaption><em>Source: Santiment</em></figcaption></figure>
<p>With Cardano shedding off 43% of its value in the past 4 months, traders have been shunning the altcoin based on dwindling perceptions.</p>
<p>Nevertheless, all hope is not lost, as technical indicators paint a different picture of Cardano, the tenth-largest cryptocurrency, which showcases various bullish signs.</p>
<p>For instance, ADA’s relative strength index (RSI) shows that the crypto is gearing up for upward momentum after breaching major resistance at the $0.4 area.</p><p><span>Advertisement</span><a target="_blank" href="https://zycryp.to/GoogleNews"><img src="https://zycrypto.com/wp-content/uploads/2022/01/Follow-ZyCrypto-On-Google-News-1.png" alt="Follow ZyCrypto On Google News" /></a>
 </p>
<p>Crypto analyst Captain Faibik recently <a target="_blank" href="https://zycrypto.com/pundit-predicts-100-surge-for-cardano-as-ada-price-train-leaves-the-station/">acknowledged</a> that Cardano had left the station since a 2x surge was expected in the midterm, further cementing ADA’s bullish outlook.</p>
<p>According to CoinGecko data, ADA was hovering around the $0.38 zone at the time of writing.</p>
<h2 id="h-what-does-the-chang-upgrade-have-to-offer"><strong>What Does the Chang Upgrade Have to Offer?</strong></h2>
<p>The Cardano network is eyeing the Chang Upgrade set for August 2024 for enhanced decentralization.</p>
<p>This upgrade will trigger the incorporation of CIP-1694 into the network’s governance mechanism.</p>
<p>Chang will also usher in the Voltaire era, which will play an instrumental role in making Cardano an autonomous network consisting of its treasury system and voting.</p>
<p>Therefore, time will tell whether this upgrade will ignite the much-needed bullish fire in the ADA ecosystem.</p>
 </div>

Zycrypto

As Cardano Trader Sentiment Wanes, Could This Ignite The Much-Needed Bullish Fire in The ADA Ecosystem?

<div>
						<figure>
							<img src="https://www.newsbtc.com/wp-content/uploads/2024/04/iStock-1336958377.jpeg?fit=860%2C573" alt="Cardano price" srcset="https://www.newsbtc.com/wp-content/uploads/2024/04/iStock-1336958377.jpeg?w=2121 2121w, https://www.newsbtc.com/wp-content/uploads/2024/04/iStock-1336958377.jpeg?w=460 460w, https://www.newsbtc.com/wp-content/uploads/2024/04/iStock-1336958377.jpeg?w=768 768w, https://www.newsbtc.com/wp-content/uploads/2024/04/iStock-1336958377.jpeg?w=860 860w, https://www.newsbtc.com/wp-content/uploads/2024/04/iStock-1336958377.jpeg?w=1536 1536w, https://www.newsbtc.com/wp-content/uploads/2024/04/iStock-1336958377.jpeg?w=2048 2048w, https://www.newsbtc.com/wp-content/uploads/2024/04/iStock-1336958377.jpeg?w=750 750w, https://www.newsbtc.com/wp-content/uploads/2024/04/iStock-1336958377.jpeg?w=1140 1140w" />						</figure>
						<div>
																<p><span>Cardano has been under pressure and selling off in the past four months. From the ADAUSDT daily chart, it is evident that bears have been in control. After peaking in March, prices plunged by as much as 60% before finding support in mid-July. </span></p>
<p><span>Since then, ADA has recovered slightly, but bears have not relentred, especially this week. So far, ADA is still 50% after the spike in March. </span><span>This set of conditions could explain traders’ bearish stance on multiple perpetual trading platforms like Binance and OKX. </span></p>
<p><span>The slip in ADA prices and the alignment of the trend to be bearish from March explain why the funding rate is negative and continues to increase.</span></p>
<h2><span>Time To Buy ADA Despite Extremely High Negative Funding Rates?</span></h2>
<p><span>Even so, not everyone is extremely bearish. Santiment analysts </span><a href="https://x.com/santimentfeed/status/1816212665699819550" target="_blank"><span>note</span></a><span> that despite this state of affairs, ADA prices could, if anything, recover unexpectedly. They explained that the recent spike in negative funding rates, pointing to heightened selling activity, could offer a contrarian opportunity for aggressive traders.</span></p>
<p><span>Historically, Santiment analysts explained that prices tend to recover sharply in the sessions ahead whenever an asset is extremely sold, as is the case with ADA. Rapidly expanding prices tend to trigger a short squeeze, forcing sellers to buy at a higher price and fanning the uptrend.</span></p>
<figure><img src="https://www.newsbtc.com/wp-content/uploads/2024/07/GTR7Qs-aYAEmItu.jpg?resize=1024%2C677" alt="ADA is oversold and may recover | Source: @santimentfeed via X" srcset="https://www.newsbtc.com/wp-content/uploads/2024/07/GTR7Qs-aYAEmItu.jpg?resize=1024%2C677?w=2755 2755w, https://www.newsbtc.com/wp-content/uploads/2024/07/GTR7Qs-aYAEmItu.jpg?resize=1024%2C677?w=460 460w, https://www.newsbtc.com/wp-content/uploads/2024/07/GTR7Qs-aYAEmItu.jpg?resize=1024%2C677?w=768 768w, https://www.newsbtc.com/wp-content/uploads/2024/07/GTR7Qs-aYAEmItu.jpg?resize=1024%2C677?w=860 860w, https://www.newsbtc.com/wp-content/uploads/2024/07/GTR7Qs-aYAEmItu.jpg?resize=1024%2C677?w=1536 1536w, https://www.newsbtc.com/wp-content/uploads/2024/07/GTR7Qs-aYAEmItu.jpg?resize=1024%2C677?w=2048 2048w, https://www.newsbtc.com/wp-content/uploads/2024/07/GTR7Qs-aYAEmItu.jpg?resize=1024%2C677?w=750 750w, https://www.newsbtc.com/wp-content/uploads/2024/07/GTR7Qs-aYAEmItu.jpg?resize=1024%2C677?w=1140 1140w" /><figcaption>ADA is oversold and may recover | Source: @santimentfeed via X</figcaption></figure>
<p><span>Nonetheless, this is not always the case, and this contrarian strategy should be taken cautiously. When a given asset is perceived as “extremely oversold,” prices can often dip even as analysts expect a recovery. </span></p>
<figure><a target="_blank" href="https://www.tradingview.com/x/jQc9Rc3o/"><img src="https://www.tradingview.com/x/jQc9Rc3o/" alt="Cardano price trending downward on the daily chart | Source: ADAUSDT on Binance, TradingView" /></a><figcaption>Cardano price trending downward on the daily chart | Source: <a href="https://www.tradingview.com/x/jQc9Rc3o/" target="_blank">ADAUSDT on Binance, TradingView</a></figcaption></figure>
<p><span>This may mean traders are unconvinced that the asset has what it takes to recover in the wave of intense selling pressure. In this case, traders have to stay safe and align with the primary trend—bearish.</span></p>
<h2><span>Cardano Whales Staying Away Ahead Of The Chang Hard Fork</span></h2>
<p><span>So far, parallel data from IntoTheBlock </span><a href="https://app.intotheblock.com/coin/ADA/deep-dive?group=ownership&amp;chart=concentration" target="_blank"><span>points</span></a><span> to waning investor confidence. According to data, there has been a drop in whale inflow, a dent to the expected optimism. Still, this can be attributed to portfolio rebalancing that might impact inflows, among other factors.</span></p>
<figure><img src="https://www.newsbtc.com/wp-content/uploads/2024/07/cardano-large-holders-data-850x567-1.png?resize=850%2C567" alt="ADA whale flow | Source: IntoTheBlock" srcset="https://www.newsbtc.com/wp-content/uploads/2024/07/cardano-large-holders-data-850x567-1.png?resize=850%2C567?w=850 850w, https://www.newsbtc.com/wp-content/uploads/2024/07/cardano-large-holders-data-850x567-1.png?resize=850%2C567?w=460 460w, https://www.newsbtc.com/wp-content/uploads/2024/07/cardano-large-holders-data-850x567-1.png?resize=850%2C567?w=768 768w, https://www.newsbtc.com/wp-content/uploads/2024/07/cardano-large-holders-data-850x567-1.png?resize=850%2C567?w=750 750w" /><figcaption>ADA whale flow | Source: IntoTheBlock</figcaption></figure>
<p><span>It remains to be seen how ADA will perform in the coming days. The Cardano development team is preparing for the Chang hard fork, which is set to conclude by the end of July. </span></p>
<p><span>This upgrade will decentralize the smart contracts platform by introducing elected delegate representatives tasked with shaping the Cardano constitution. The successful implementation of Chang will usher in the final development phase of Cardano, <a href="https://www.newsbtc.com/breaking-news-ticker/cardano-ada-soars-to-new-levels-iog-unveils-explosive-growth-in-key-metrics/" target="_blank">Voltaire</a>. In turn, this effectively decentralized the network, similar to Ethereum.</span></p>
<p>Feature image from iStock, chart from TradingView</p>
															</div>
						<div>
		<p><img alt="Dalmas Ngetich" src="https://www.newsbtc.com/wp-content/uploads/2023/10/Dalmas-NewsBTC-2.png?resize=200%2C200" srcset="https://www.newsbtc.com/wp-content/uploads/2023/10/Dalmas-NewsBTC-2.png?resize=200%2C200 2x" />		</p>
		<div>
	<p>Dalmas, a seasoned crypto reporter, brings a unique perspective to the industry. His specialization in NFTs, blockchain, DeFi, and blockchain news for NewsBTC, combined with a background in mechanical engineering and over a decade of experience in journalism, has allowed him to craft over 10,000 news and feature articles over the past eight years. His diverse range of topics, including technology, Forex, and finance, reflects his comprehensive understanding of the crypto landscape.</p>
		<div>
			<p>His technical expertise and analytical skills have been recognized and featured by leading news outlets such as Investing.com, CoinTelegraph, Entrepreneur, Forbes, and other authority sites. Notably, he broke key news, including the Ripple and MoneyGram partnership, cementing his position as a thought leader in crypto.<br />
The news exploded. Over 100,000 people devoured this meticulously crafted report, from seasoned investors to curious newcomers. His analysis wasn't just dry facts and figures; it crackled with insight, dissecting the implications of the partnership and its potential impact on the future of finance.</p>
<p>His deep understanding of the financial markets, technological advancements, and blockchain developments has made him a respected voice in the industry.</p>
<p>Dalmas is also the founder of BTC-Pulse, a crypto news site, further demonstrating his commitment to the field. He firmly believes that DeFi and NFTs are here to stay and will continue to drive financial inclusion.</p>
<p>Coming from Nairobi, Kenya, it is easy to see the source of his inspiration: Across Africa, millions lack access to traditional banks. Remote villages, limited documentation, and high minimum balances create insurmountable barriers.</p>
<p>DeFi, not just Maker or Aave, for example, but think of Bitcoin and USDT, cuts out the middleman. Forget banks with their limitations.<br />
Even so, DeFi isn't a magic solution. The continent still struggles with reliable internet access, and educational campaigns highlighting the benefits of this wonderful solution are insufficient. Moreover, even for those interested, understanding DeFi can look like learning a new language.</p>
<p>Dalmas is here to help make the tech easy to understand and digestible, even for beginners.<br />
The story of DeFi in Africa is still being written. Challenges abound, but the promise of a more inclusive financial future is a powerful motivator. With innovation and collaboration, Dalmas firmly believes that DeFi could become the key to unlocking Africa's full economic potential.<br />
This possibility and its immense value motivate Dalmas to continue breaking key DeFi innovations and more across the globe. His engineering background further enhances his ability to deliver well-thought-out pieces that blend technical insight with clear, impactful reporting.</p>
<p>Beyond his professional achievements, Dalmas is deeply passionate about technology and politics. Policies drive adoption, and being at the forefront and keeping up with how they evolve is crucial for the sphere to mature.</p>
<p>When Dalmas is not closely monitoring the latest crypto events, he can be found in nature, exploring the picturesque countryside, and traveling with his family and friends. His love for adventure and discovery perfectly complements his investigative and reporting skills.<br />
You can connect with Dalmas on X: @Dalmas_Ngetich, or contact him on Telegram @Dalmas_Ngetich.</p>		</div>
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<div><article><div><figure><img src="https://image.coinpedia.org/wp-content/uploads/2023/11/28172423/Cardano-Founders-Outburst-Sparks-Debate-Among-Crypto-Communities.jpg" alt="Cardano Founder’s Outburst Sparks Debate Among Crypto Communities" srcset="https://image.coinpedia.org/wp-content/uploads/2023/11/28172423/Cardano-Founders-Outburst-Sparks-Debate-Among-Crypto-Communities.jpg 1200w, https://image.coinpedia.org/wp-content/uploads/2023/11/28172423/Cardano-Founders-Outburst-Sparks-Debate-Among-Crypto-Communities-300x157.jpg 300w, https://image.coinpedia.org/wp-content/uploads/2023/11/28172423/Cardano-Founders-Outburst-Sparks-Debate-Among-Crypto-Communities-1024x536.jpg 1024w, https://image.coinpedia.org/wp-content/uploads/2023/11/28172423/Cardano-Founders-Outburst-Sparks-Debate-Among-Crypto-Communities-768x402.jpg 768w, https://image.coinpedia.org/wp-content/uploads/2023/11/28172423/Cardano-Founders-Outburst-Sparks-Debate-Among-Crypto-Communities-150x79.jpg 150w" /></figure></div><div><p>As the spot crypto ETF race intensifies, there are growing speculations of more crypto ETFs. After <a href="https://coinpedia.org/news/ethereum-etfs-debut-with-record-1-billion-trading-volume/" target="_blank">Ethereum’s spot ETF recently started</a> to trade, the focus has now shifted to ADA. The Cardano founder recently responded to a question from Tap Tools on the <a href="https://x.com/IOHK_Charles/status/1815819542880477593?ref_src=twsrc%5Etfw%7Ctwcamp%5Etweetembed%7Ctwterm%5E1815819542880477593%7Ctwgr%5Ea788be7b4a44ed7416542cb45fe6d9ad5230737e%7Ctwcon%5Es1_&amp;ref_url=https%3A%2F%2Fthecryptobasic.com%2F2024%2F07%2F25%2Fcardano-founder-hints-at-ada-etf-amid-ethereum-launch-excitement%2F" target="_blank">X </a>platform. It questioned whether the ADA ETF is up next, to which Hoskinson replied with a playful gif that read, “Fine, I’ll do it myself.” </p><figure></figure><p>Amidst the positive speculation <a href="https://app.coinpedia.org/charleshoskinson" target="_blank">Charles Hoskinson</a> <span><span></span> <span> <span> <span><a href="https://app.coinpedia.org/charleshoskinson" target="_blank"></a></span> <span> <img src="https://image.coinpedia.org/app_uploads/profile/1706356526893pofjeij2ch.jpg" alt="user_profile_img" title="user_profile_img" /> <span>Charles Hoskinson</span> <span> </span> <span>Charles Hoskinson is a visionary entrepreneur and technology pioneer, renowned as the CEO and Founder of IOG (Input Output Global). With a profound commitment to advancing blockchain technology and decentralized systems, he has played a pivotal role in shaping the landscape of the cryptocurrency industry.
Charles co-founded Ethereum, one of the most prominent blockchain platforms, and later went on to establish IOG, a blockchain research and development company. His strategic leadership has been instrumental in the development of Cardano, a groundbreaking blockchain platform known for its focus on scalability, sustainability, and interoperability.With a deep passion for promoting financial inclusion and innovation, Charles continues to drive the adoption of blockchain solutions globally. His dynamic leadership and dedication to the advancement of decentralized technologies make him a driving force in the evolution of the digital economy.</span> <span></span> <span><span>Chief Executive Officer</span></span> </span> </span> </span> </span> response prompted further discussion within the community. A community member, drawn by Hoskinson’s engagement, replied, “If you are going to do it yourself, can you also secure a real stable coin for Cardano with liquidity and an on/off ramp by partnering with an exchange that will also list Cardano native tokens?” In response, Hoskinson supported this idea.</p><p>This community member also stressed the need for partnerships, specifically mentioning USDC or USDT and a partnership with Coinbase or Binance. Despite the positive sentiment, some community members expressed concerns highlighting the potential centralization risk posed by an ETF, which could threaten Cardano’s decentralized system. </p><h2 id="h-more-etfs-on-the-way"><strong>More ETFs On The Way!</strong></h2><p>Further, <a href="https://app.coinpedia.org/bgarlinghouse" target="_blank">brad garlinghouse</a> <span><span></span> <span> <span> <span><a href="https://app.coinpedia.org/bgarlinghouse" target="_blank"></a></span> <span> <img src="https://image.coinpedia.org/app_uploads/profile/1657885745691cwezvncr0c.png" alt="user_profile_img" title="user_profile_img" /> <span>brad garlinghouse</span> <span> </span> <span>Brad Garlinghouse is one of the world’s largest crypto payments processors; he is an extremely popular name across the global crypto landscape. He has previously served as the CEO of Hightail, a file-sharing service, and is also an active angel investor. He is currently serving as the CEO of financial technology company Ripple Labs. He joined Ripple as COO in April 2015, answering to the CEO and prime supporter, Chris Larsen. He was elevated to CEO in December 2016.   Previously, he also worked at AOL and Yahoo! From 2003 to 2008, he filled in as Senior Vice President at Yahoo!, where he ran its Homepage, Flickr, Yahoo! Mail, and Yahoo! Courier divisions. While at Yahoo!, he wrote an inner update known as the "Peanut Butter Manifesto," requiring the organization to zero in on its core business instead of extending itself excessively far, much like peanut butter. </span> <span></span> <span><span>Entrepreneur</span></span><span><span>Investor</span></span><span><span>Chief Executive Officer</span></span><span><span>Board Member</span></span> </span> </span> </span> </span> CEO of Ripple Labs, had expressed confidence in the SEC’s potential approval of spot ETFs for Cardano, along with Solana and XRP. Garlinghouse suggested that more crypto ETFs might launch following Ethereum and Bitcoin ETFs. The Bloomberg ETF analyst, Eric Balchunas had also predicted the same. </p><p>Garlinghouse acknowledged the regulatory challenges these products might face, predicting a lengthy approval process as the Bitcoin ETFs had faced multiple rejections, and Ethereum ETFs, experienced delays.</p><h2 id="h-cardano-s-upcoming-developments-nbsp"><strong>Cardano’s Upcoming Developments! </strong></h2><p>While the ETF remains unconfirmed, Cardano boasts other positive developments. The upcoming Chang hard fork, scheduled for August 2024, adds to the anticipation. According to Intersect, 247 members of the Cardano community have completed DRep onboarding in anticipation of the Chang upgrade.</p><p>This is a significant milestone, as the network is nearing 100 million transactions. The total value locked (TVL) is also growing, despite being down from its peak. These developments place the Cardano ecosystem for significant growth and advancement.</p><p>Also Check Out: <a href="https://coinpedia.org/news/ethereum-etfs-launch-with-a-bang-blackrock-and-grayscale-move-millions-in-eth/" target="_blank">Ethereum ETFs Launch with a Bang: BlackRock and Grayscale Move Millions in ETH</a></p></div> </article><div><h4>Was this writing helpful?</h4><h5> <span>No</span> <span>Yes</span></h5></div> </div>

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