Cardano Sees 20 Million ADA Transactions in 2 Days: What’s Behind?
The post Cardano Sees 20 Million ADA Transactions in 2 Days: What’s Behind? appeared on BitcoinEthereumNews.com.
Cover image via www.freepik.com Disclaimer: The opinions expressed by our writers are their own and do not represent the views of U.Today. The financial and market information provided on U.Today is intended for informational purposes only. U.Today is not liable for any financial losses incurred while trading cryptocurrencies. Conduct your own research by contacting financial experts before making any investment decisions. We believe that all content is accurate as of the date of publication, but certain offers mentioned may no longer be available. Cardano (ADA), the ninth-largest cryptocurrency by market capitalization, is hinting at significant activity over the past 48 hours. According to Ali, whales have bought over 20 million Cardano during this period. Although the exact reason behind these moves remains unknown, a few potential explanations might be likely. The recent progress on Cardano’s decentralized governance framework, including CIP-1694, may have boosted investor sentiment about the project’s long-term viability. On Dec. 21, Intersect, a member-based organization for the Cardano ecosystem, announced that the Plomin hard fork governance action on mainnet has been submitted for ratification. The Plomin upgrade will unlock Cardano’s final on-chain governance features. This action marks the end of the beginning for on-chain governance. If enacted, it will enable full governance as defined in CIP-1694 to mainnet, ending the technical bootstrapping phase. Given this, ratification and enactment of the Plomin hard fork governance action on mainnet could happen following any epoch boundary between Jan. 4 and 29, 2025. Related As the year 2024 comes to a close, expectations remain in the final days of a historic year for most digital assets. This might be encouraging whales to accumulate ADA in anticipation of a price surge. Also, with ADA’s price trading below $1, whales might see this as an opportunity to accumulate at a discount. ADA price action…
Filed under: News - @ December 29, 2024 10:18 am