u.today
Cardano (ADA) has set a new record in daily trades, amounting to over 36K.
Cardano founder Charles Hoskinson has reacted to this milestone with a post on X. “Well done,” he replied.
ADA debate
A heated debate recently erupted within the Cardano (ADA) community after a venture capital fund, 3UTxO, requested 200 million tokens from the Cardano Treasury.
The leaked documents revealed that the fund planned to distribute the tokens to selected start-ups and projects focused on Cardano's ecosystem.
Many community members expressed dissatisfaction, arguing that the request was excessive and voicing concerns over the scale of the demand.
Uptrend on way?
ADA is traded at $0.323 today, up 0.23% from yesterday. The 24-hour trading volume is $319,866,533.
Recently, Adam Back, who was famously cited in Satoshi's highly influential white paper, has predicted that the price of ADA, the native token of the Cardano ecosystem, could collapse another 90%.
This does not seem to be the case at the moment. At press time, the chart shows signs of recovery, despite the broader weak market performance.
New developments
Hoskinson has recently made several announcements on upcoming updates. According to him, PlutusV3, a massive upgrade that will bring new possibilities for applications built on Cardano, will be released in a matter of weeks.
Another upcoming update is PGP encryption for wallets' security. Hoskinson compared the 1991 technology to paper wallets, the latter being not safe enough. Hoskinson also announced a $1 million bounty for hacking a secure wallet.