TheCryptoBoard
Image default
News

Cardano Breaks 7-Month Consolidation Range as ADA Decentralized Governance Journey Gets Major Leap

Cardano (ADA) continues to ride on the bullish momentum rocking the crypto market thanks to a weekly surge of 80.4%, according to CoinGecko data.

Cardano has been gridlocked in a range for the past seven months, but this fate recently came to pass, with the ninth-largest cryptocurrency smashing the $0.60 resistance level.

Source: World of Charts

ADA was hovering around $0.5764 at the time of writing, showing its steadfast commitment to holding the psychological threshold of $0.60.

Given that Cardano has been mirroring a historical pattern created 4 years ago, top market analyst Ali Martinez pointed out that the altcoin was destined for greater heights this month.

Therefore, based on the notable leg up, fingers are crossed that ADA will hit the psychological price of $1 during the course of this month.

Cardano Rolls Out New Update

Based on Cardano’s quest to enhance its governance and decentralized capabilities, the network recently rolled out the Node 10.11 update, which implements the Chang #2 hard fork.

This move intends to offer ADA holders more power regarding the network’s governance. As a result, they will have the opportunity to transfer their voting power to certain Delegated Representatives so that governance can be undertaken independently.

Therefore, this development is a stepping stone toward enhanced decentralized governance in the Cardano blockchain.

Related posts

Disgraced Crypto Mogul Do Kwon Will Miss Start Of SEC Trial Amid Extradition Delays

Ondrej Simon

Elon Musk’s $258B Dogecoin Lawsuit Alleging Insider Trading At Risk As Key Attorney Quits

Ondrej Simon

CryptoQuant: The influx of 14,924 Bitcoin on Kraken deserves special attention

Ondrej Simon