Back to the list

ADA price prediction as Cardano hands over control of $680M treasury to community

source-logo  finbold.com 14 June 2024 19:22, UTC

Cardano (ADA) is set to hand over control of its $681.9 million treasury to its community, marking a significant step towards full decentralization.

This change is part of the upcoming “Chang” hard fork upgrade, which aims to renew interest in the ADA ecosystem and pave the way for future growth.

Cardano’s treasury, valued at $681.9 million, holds its native ADA tokens. Unlike other blockchain protocols that include stablecoins or assets like Bitcoin (BTC) and Ethereum (ETH), Cardano’s treasury is made up solely of ADA.

By giving control to the community, Cardano aims to boost ecosystem development and ensure long-term sustainability.

Looking ahead, full decentralization, increased network activity from new decentralized applications (DApps), and partnerships like the one with Argentina could boost investor confidence.If the broader cryptocurrency market remains stable, ADA could reach $0.65 to $0.75 within six months.

Analyst prediction

Some analysts see a bullish future for ADA amid these developments. Crypto analyst AV Sebastien, known as Sssebi on X, predicts that ADA could see a major price increase, potentially reaching $3.

He credits this to the “Chang” hard fork upgrade, which will introduce new governance mechanisms and boost interest in the ADA ecosystem. Additionally, the partnership with Argentina and new DApps are expected to play key roles in Cardano’s future growth.

As Cardano advances towards full decentralization, its focus on community governance, ecosystem development, and strategic partnerships is likely to play a crucial role in the network’s future success.

Investors should closely monitor ADA’s price movements and technical indicators to capitalize on potential gains during this transformative period.

Disclaimer: The content on this site should not be considered investment advice. Investing is speculative. When investing, your capital is at risk.