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Cardano  Chang Upgrade, ADA Token Becomes Governance Token!

<img src="https://static.bittime.com/cms-static/upload/Cardano_Activates_Chang_Upgrade_4f46cf83ff.webp" alt="Cardano Activates Chang Upgrade" width="2048" height="1152"><a style="text-decoration:none;" target="_blank" rel="noopener noreferrer" href="https://www.bittime.com?content_id=airdrop&amp;cn=400005">Bittime</a> - Cardano successfully activates Chang upgrade and the ADA token officially becomes a governance token. Read this article to find out the full news!<a target="_blank" rel="noopener noreferrer" href="https://www.bittime.com/register?content_id=airdrop&amp;cn=400005"><img src="https://static.bittime.com/cms-static/upload/Banner_2_988b13eca2.webp" alt="Banner 2" width="1999" height="415"></a><h2 style="line-height:1.38;margin-bottom:12pt;margin-top:12pt;text-align:justify;" dir="ltr">Cardano Community Governance Structure</h2>After enabling the Chang upgrade, Cardano introduced a new governance structure consisting of three main user-led bodies, viz&nbsp;Constitutional Committee,&nbsp;Delegations (dReps), and&nbsp;Stake Pool Operators (SPOs).&nbsp;This governance structure is designed to increase community participation in decision-making and ensure that any proposed changes to the blockchain receive approval from stakeholders.Chang hard fork will be implemented in 2 phases. The first phase has begun with the formation of a temporary constitutional committee tasked with overseeing Cardano's governance.&nbsp;The second phase is expected to fully empower these new governance bodies after 90 days, when the entire ecosystem is ready to actively participate in governance.Read Also:&nbsp;<a style="text-decoration:none;" target="_blank" rel="noopener noreferrer" href="https://www.bittime.com/blog/harga-cardano-melonjak-atau-terjun-bebas">Cardano (ADA) Price: Soaring To $45 or Freefalling to $0.2?&nbsp;</a><h2 style="line-height:1.38;margin-bottom:12pt;margin-top:12pt;text-align:justify;" dir="ltr">The Important Role of ADA Tokens&nbsp;</h2>With the implementation of the Chang upgrade, the ADA token is now officially a governance token. That way, ADA token holders can participate in the election of governance representatives and vote on development proposals.&nbsp;<a target="_blank" rel="noopener noreferrer" href="https://www.bittime.com/reward/dogsairdrop?content_id=news&amp;cn=400001"><img src="https://static.bittime.com/cms-static/upload/airdrop_dogs_bittime_14f57ae441.webp" alt="airdrop dogs bittime.webp" width="2985" height="620"></a><h2 style="line-height:1.38;margin-bottom:12pt;margin-top:12pt;text-align:justify;" dir="ltr">Cardano Governance is More Decentralized</h2>With Cardano moving towards more decentralized governance, the blockchain is increasingly aligning with the decentralized ethos of the blockchain industry.&nbsp;However, this change could also be seen as an attempt to distance itself from securities regulations by providing additional utility to the ADA token.&nbsp;Even though Cardano is ranked 28th on DeFiLlama's list, the project continues to attract attention.Read Also:&nbsp;<a style="text-decoration:none;" target="_blank" rel="noopener noreferrer" href="https://www.bittime.com/blog/prediksi-harga-cardano-ada-di-2024">Cardano (ADA) Price Prediction in 2024</a><h2 style="line-height:1.38;margin-bottom:12pt;margin-top:12pt;text-align:justify;" dir="ltr">How to Buy Crypto with Bittime</h2><a target="_blank" rel="noopener noreferrer" href="https://www.bittime.com/how-to-buy?content_id=news&amp;cn=400001"><img src="https://static.bittime.com/cms-static/upload/banner_cara_beli_ab926002c1.webp" alt="cara beli crypto di bittime" width="2985" height="620"></a>You can buy and sell crypto assets in an easy and safe way via Bittime. over is one of the best crypto applications in Indonesia which is officially registered with Bappebti.&nbsp;To be able to buy crypto assets on Bittime, make sure you have registered and completed identity verification. Apart from that, also make sure that you have sufficient balance by depositing some funds into your wallet. For your information, the minimum purchase of assets on Bittime is IDR 10,000. After that, you can purchase crypto assets in the application.&nbsp;Monitor graphic movement<a style="text-decoration:none;" target="_blank" rel="noopener noreferrer" href="https://www.bittime.com/price/BTC?cn=400001">&nbsp;</a>price&nbsp;<a style="text-decoration:none;" target="_blank" rel="noopener noreferrer" href="https://www.bittime.com/price/BTC?content_id=airdrop&amp;cn=400005">Bitcoin (BTC)</a>,<a style="text-decoration:none;" target="_blank" rel="noopener noreferrer" href="https://www.bittime.com/price/ETH?content_id=airdrop&amp;cn=400005"> Ethereum (ETH)</a>,<a style="text-decoration:none;" target="_blank" rel="noopener noreferrer" href="https://www.bittime.com/price/SOL?content_id=airdrop&amp;cn=400005"> Solana (SOL)</a>&nbsp;and other cryptos to find out today's crypto market trends in real-time on Bittime.

thumbnail_Cardano Activates Chang Upgrade.webp

Cardano Activates Chang Upgrade.webp

Cardano Activates Chang Upgrade, ADA Token Becomes Governance Token!

Cardano (ADA) price is facing pressure with 5 consecutive weeks of price declines. Cardano which has been part of a huge bull run since October 2023, has fallen to $0.4. Read this article for more analysis!

Cardano (ADA) Price: Soar to $45 or Freefall to $0.2? 

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Cardano Price.png

In the last few weeks, Cardano (ADA) price has faced pressure with 5 consecutive weeks of price decline. Cardano, which has been part of a major bull run since October 2023, has fallen as low as $0.4. In the past week, this crypto asset fell almost 7%, with only 25% of traders managing to make a profit.

Investor Sentiment and Cardano (ADA) Selling Pressure

Although Cardano has experienced continuous selling pressure, investor sentiment has subsided due to declining trading volumes and continued selling pressure, which contributed to ADA's current position below the key moving average. 

Analysis from crypto analytics platform Santiment identified ADA as one of the most traded altcoins briefly along with XRP after a temporary rally. However, analysts remain optimistic and note that this is a good sign for bullishness.

Despite ADA facing price challenges, the Cardano community is eagerly awaiting Chang's upcoming hard fork scheduled for this quarter. The update is touted as the biggest since Vasil in September 2022 and promises to introduce community governance features.  

Recently, Cardano published their Interim Constitution. This foundational document will guide the Interim Constitutional Committee (ICC), which played a crucial role during the technical bootstrapping phase of Chang's hard fork. 

The ICC is tasked with ensuring that all governance actions comply with the mandate of the interim constitution. The ongoing voting process for the ICC is expected to be completed by June 23, while the results of the committee elections will be announced on June 26.

Although ADA does not currently have a strong support level, some analysts have identified a potential ascending channel on the weekly chart. TradingView analysts expressed optimism about the possibility of a new cycle that could push ADA toward $45 or higher within the channel in the next bull season.

Rather, some analyst, like analysts from Swallow Premium, predict further downside, identifying $0.2465 as a critical support level after ADA failed to consolidate above the local liquidity level of $0.40. 

However, ADA is stuck in a strong support zone between $0.37 and $0.30, where around 568,000 addresses hold 3.15 billion ADA worth around $1.3 billion. Maintaining this support level will be key for ADA to maintain upward momentum and potentially recover from its recent price decline.

Cardano's current price movement reflects broader market uncertainty, with significant selling pressure and low trading volume. However, with major updates such as the Chang hard fork and potential changes in the market cycle, there is hope that ADA could recover and even reach higher price levels in the near future. 

Observations of key support levels and further developments in the Cardano community and technology will be determining factors in the ADA price journey ahead. At the time of writing, ADA was trading at $0.3874, reflecting a loss of 0.002% in the last 24 hours.  

You can buy and sell crypto assets in an easy and safe way via Bittime. Bittime is one of the best crypto applications in Indonesia which is officially registered with Bappebti. 

To be able to buy crypto assets on Bittime, make sure you have registered and completed identity verification. Apart from that, also make sure that you have sufficient balance by depositing some funds into your wallet. For your information, the minimum purchase of assets on Bittime is IDR 10,000. After that, you can purchase crypto assets in the application. 

(SOL) price and other cryptos to find out today's crypto market trends in real-time on Bittime.

In the last few weeks, Cardano (ADA) price has faced pressure with 5 consecutive weeks of price decline. Cardano, which has been part of a major bull run since October 2023, has fallen as low as $0.4.  