Cardano prepares for the Chang hard fork and the launch of the Anzens stablecoin amid a declining ADA price trend.
Points
- Cardano gears up for the Chang hard fork to launch the Voltaire era.
- Introduction of the USDA stablecoin to bolster DeFi development.
- ADA’s price declines despite significant project advancements.
- Market challenges and shifting focus impact ADA’s performance.
Cardano, a leading cryptocurrency project, is advancing with significant developments, including the upcoming Chang hard fork and the launch of the stablecoin Anzens （USDA）. Despite these advancements, ADA’s price has been declining, reflecting broader market challenges and a shift in project focus.
Cardano’s Chang Hard Fork and Voltaire Era
The release of Cardano Node 9.0.0 code marks a critical step towards the Chang hard fork, initiating the Voltaire era with a focus on decentralized governance. According to Charles Hoskinson, Cardano’s founder, 70% of the nodes need to vote for the update, expected to occur in the coming days. The Chang hard fork will introduce Delegate Representatives （DReps） who will draft a Constitution to govern the network, emphasizing Cardano’s transformation into a decentralized political ecosystem.
Stablecoin Anzens （USDA） Launch
EMURGO, the founding entity of Cardano, announced the launch of the USDA stablecoin, which will be fully collateralized in USD and managed by Encryptus, a European VASP licensee in Lithuania. The stablecoin will be available in over 80 countries, aiming to bolster the development of DeFi dApps within the Cardano ecosystem.
ADA Price Trends and Market Challenges
Despite these significant developments, ADA’s price has been declining, falling by 10% in the past week, 15% in the last month, and 40% since the start of the year. After peaking at over $3 in 2021, ADA has faced a prolonged decline, currently trading significantly below its historic highs. Cardano’s shift towards non-financial areas might be impacting ADA’s market performance, with the development team hoping that increased usage of the chain for various applications could eventually drive demand for ADA as a transaction fee asset.
解説
- Decentralized Governance: The Voltaire era aims to establish decentralized governance, marking a significant milestone for Cardano.
- DeFi Development: The USDA stablecoin is designed to enhance DeFi dApp development within the Cardano ecosystem.
- Market Performance: Despite project advancements, ADA’s price decline reflects market challenges and shifting project focus.
- Future Prospects: Increased usage of Cardano’s blockchain for various applications could drive future demand for ADA.