- Cardano CEO announces interim constitution, emphasizing transparency and inclusivity in governance.
- ADA attracts investor interest amid Bitcoin Halving, with analysts predicting a potential price surge.
Cardano is set to introduce an interim constitution, marking a pivotal moment in its growth.
Frederik Gregaard, CEO of the Cardano Foundation, broke this news, highlighting the purpose of the constitution. He revealed that it aims to reflect the values of the global community, providing a framework for managing the complexities of on-chain governance during the transition to a permanent constitution.
Per Gregaard’s X post, “Cardano stands at the verge of a new era in decentralized governance. The full constitution is on the horizon, but first comes the interim constitution. This is a foundational framework for our ecosystem.”
Cardano stands at the verge of a new era in decentralized governance. The full constitution is on the horizon, but first comes the interim constitution. This is a foundational framework for our ecosystem. 🧵 @Cardano_CF
— Frederik Gregaard (@F_Gregaard) April 18, 2024
The Cardano chief noted that the interim document emphasizes “transparency, openness, and responsible decision-making.” He added that the documents will enable every ADA holder to contribute to shaping Cardano’s future.
Moreover, its inclusivity is essential to Cardano’s proposed governance model. “Every #ada holder, developer, and participant is a community member, entitled to the rights, privileges, and responsibilities that will be outlined in the interim constitution,” Gregaard stated.
Cardano governance is built on inclusion. Every #ada holder, developer, and participant is a community member, entitled to the rights, privileges, and responsibilities that will be outlined in the interim constitution. A fair voting system is crucial for genuine ownership.
— Frederik Gregaard (@F_Gregaard) April 18, 2024
Cardano’s Potential Surge Amid Bitcoin Halving Excitement
With the Bitcoin Halving event in full swing, Cardano is attracting global investor interest. While historically struggling to surpass the $1 mark, recent developments suggest a shift may be imminent.
Crypto analyst Dan Gambardello believes that the “halving” event could catalyze ADA’s potential entry into a parabolic phase, potentially driving its price substantially higher. Current forecasts support this notion, projecting a 25% uptick in ADA’s value by the end of April, with a target peak of around $0.84. This optimistic outlook relies on ADA maintaining its current momentum and overcoming key resistance levels at $0.47, $0.49, and $0.51.
Conversely, a trend reversal could see ADA facing renewed pressure around the 50% Fibonacci level. ADA trades at $ 0.503963 at press time, printing a 7.40% intraday rally. In addition, the coin’s market capitalization stands at $17,942,583,520, reflecting a 7.28% rise from yesterday.
On the other hand, the trading volume dipped by 6.22%, hitting $539,801,730. Per insight from Coincodex, ADA has seen 15/30 green days, closing above its opening price.