Connect with us

Market

Cardano’s Path to Decentralized Governance Advances

Published

on



Cardano has introduced Node 10.11, marking a major leap in the network’s journey toward decentralized governance.

On November 1, Intersect MBO, a Cardano-led member organization, launched Node 10.11 as the first mainnet release to support the Chang #2 inter-era hard fork. This upgrade transitions the network from its initial technical bootstrapping phase into a fully on-chain governance model.

Cardano’s Governance Evolution Continues with Chang #2

Node 10.11 includes features designed to empower governance within the Cardano ecosystem. Stake Pool Operators (SPOs) can now delegate their votes to preset options, and Delegated Representatives (DReps) gain an auto-abstain feature. The update also enhances Cardano’s ledger, command-line interface (CLI), API, and networking code, creating a more robust foundation for governance and user interaction.

Intersect highlights the Chang 2 upgrade as the completion of Cardano’s move to fully on-chain governance, an evolution from the initial bootstrap model introduced in the first Chang upgrade. This shift allows ADA holders—who since the Chang 1 update on September 1, have been able to delegate governance responsibilities to DReps or represent themselves—to play a more active role in the network’s decision-making processes.

Read more: Cardano (ADA) Price Prediction 2024/2025/2030

Under the new Chang 2 framework, ADA holders must delegate to a DRep to withdraw staking rewards, although rewards will continue to accrue regardless of delegation status. Withdrawals will be possible only after delegating to a DRep or selecting the auto-abstain or no-confidence options. This would encourage active participation in Cardano’s governance structure as it moves closer to its decentralized vision.

“Following a successful Chang #2 hard fork, decisions on the Cardano blockchain will be shaped and voted on via fully decentralized governance, as detailed in CIP-1694,” Intersect stated.

Meanwhile, as Cardano enters this new phase, its founder, Charles Hoskinson, has engaged the community in a unique way. Following some recent public criticism, Hoskinson launched a poll on X (formerly Twitter) asking, “Is Charles Hoskinson a cancer for Cardano?”

As of now, the vote is nearly split, with the “no” responses holding a narrow majority at 51% to 49%. However, the poll has sparked diverse reactions across the community. Some prominent ADA supporters have defended Hoskinson and suggested the poll results might be influenced by bots or external factors.

Read more: Who Is Charles Hoskinson, the Founder of Cardano?

Indeed, with six days remaining, the poll reflects the community’s mixed perspectives on Hoskinson’s role and influence within Cardano.

Disclaimer

In adherence to the Trust Project guidelines, BeInCrypto is committed to unbiased, transparent reporting. This news article aims to provide accurate, timely information. However, readers are advised to verify facts independently and consult with a professional before making any decisions based on this content. Please note that our Terms and ConditionsPrivacy Policy, and Disclaimers have been updated.



Source link

Continue Reading
Click to comment

Leave a Reply

Your email address will not be published. Required fields are marked *

Market

SEC Moves Toward Solana ETF Approval Amid Pro-Crypto Shift

Published

on


The SEC is quietly meeting with several issuers to discuss approving a Solana ETF, claims Fox Business reporter Eleanor Terrett. With Trump’s impending pro-crypto administration, the SEC seems more inclined to approve such a product.

However, anti-crypto figure Gary Gensler is still nominally in charge of the SEC, and public progress might not begin until 2025.

Solana ETF Approval Is Getting Closer

According to a scoop from Fox Business reporter Eleanor Terrett, the SEC and several ETF issuers are in talks to approve a Solana ETF. Currently, Brazil is the only country that has given this product a green light. As recently as September, Polymarket odds gave the SEC a dismal 3% chance of approving it. This reluctance, however, might soon be changing:

“Talks between SEC staff and issuers looking to launch a Solana spot ETF are “progressing” with the SEC now engaging on S-1 applications. Recent engagement from staff, coupled with the incoming pro-crypto administration, is sparking a renewed sense of optimism that a Solana ETF could be approved sometime in 2025,” Terrett claimed.

Terrett was very clear about the impetus for this progress in negotiations: Donald Trump’s re-election. On the campaign trail, Trump vowed to significantly reform US crypto policy, and one cornerstone was firing anti-crypto SEC Chair Gary Gensler. Gensler has apparently conceded to his impending ouster, and his replacement will undoubtedly support the industry.

Previous attempts have floundered at an early step in the process. Once the SEC officially acknowledges an application, it must confirm or deny it within a 240-day window. Previous filings have lingered in limbo at this stage. However, the list of candidates is now growing: Canary Capital filed for a Solana ETF in October, and BitWise did the same earlier today.

Timeline of Solana ETF Applications, with Previous Frozen Attempts
Timeline of Solana ETF Applications, with Previous Frozen Attempts. Source: Eric Balchunas

Nonetheless, these positive negotiations still only consist of anonymous rumors. The Commission has not publicly moved to begin this process, and Gensler is still nominally in charge. Terrett posits that the SEC will only make serious progress on the Solana ETF at the start of 2025. Compared to previous pessimism, however, this is a complete sea change.

Disclaimer

In adherence to the Trust Project guidelines, BeInCrypto is committed to unbiased, transparent reporting. This news article aims to provide accurate, timely information. However, readers are advised to verify facts independently and consult with a professional before making any decisions based on this content. Please note that our Terms and ConditionsPrivacy Policy, and Disclaimers have been updated.



Source link

Continue Reading

Market

ETH/BTC Ratio Plummets to 42-Month Low Amid Bitcoin Surge

Published

on


The ETH/BTC ratio, a metric measuring Ethereum’s price performance compared to Bitcoin, has reached its lowest point since March 2021. This development comes amid BTC’s brief rise to $98,000.

While the flagship cryptocurrency has increased by 7.45% in the last seven days, ETH has hovered around the same region, with investors raising concerns about the altcoin’s future.

Ethereum Continues to Lag Behind Bitcoin

In February, the ETH/BTC ratio climbed to a yearly high of 0.060. During that time, speculation spread that Ethereum’s price would begin to outperform Bitcoin and validate the altcoin season. However, that has not happened, as Bitcoin’s price has continued to make new highs

Ethereum, on the other hand, is yet to retest to reclaim its all-time high despite reaching $4,000 earlier in the year. This disparity in performance could be linked to several factors. For instance, both cryptocurrencies saw approval for exchange-traded funds (ETFs) this year.

However, while Bitcoin has seen billions of dollars in inflows, ETH has been inconsistent in attracting capital. Hence, the institutional inflow has driven BTC toward $100,000, ensuring that the ETH/BTC ratio drops to $0.033 — the lowest level in 42 months.

ETH/BTC performance
ETH/BTC Ratio. Source: TradingView

Further, the disparity in Ethereum’s performance can largely be attributed to sustained selling pressure. For instance, CryptoQuant data reveals that exchange inflows into the top 10 exchanges have climbed to 461,901 ETH, valued at approximately $1.50 billion as of this writing.

This surge in exchange inflow reflects large deposits by investors, indicating a heightened willingness to sell. Such movements typically increase the supply of ETH on exchanges, raising the likelihood of a price drop.

In contrast, a low exchange inflow generally indicates that investors are holding onto their assets, which is not the current scenario for ETH.

Ethereum Exchange Inflow
Ethereum Exchange Inflow. Source: CryptoQuant

ETH Price Prediction: Crypto Could Retrace

As of this writing, ETH trades at $3,317, which is a higher close than yesterday’s. Despite that, the altcoin is still below the Parabolic Stop And Reverse (SAR) indicator. The Parabolic SAR generates a series of dots that track the price movement, positioning above the price during a downtrend and below the price during an uptrend. 

A “flip” in the dots — shifting from one side to the other — often signals a potential trend reversal. As seen below, the indicator is above ETH’s price, suggesting that the cryptocurrency could reverse its recent gains.

Ethereum price analysis
Ethereum Daily Analysis. Source: TradingView

If this is the case and the ETH/BTC ratio declines, Ethereum’s price could decline to $3,083. However, if buying pressure increases, that might not happen. Instead, the value could surge above $3,500 and toward 4,000.

Disclaimer

In line with the Trust Project guidelines, this price analysis article is for informational purposes only and should not be considered financial or investment advice. BeInCrypto is committed to accurate, unbiased reporting, but market conditions are subject to change without notice. Always conduct your own research and consult with a professional before making any financial decisions. Please note that our Terms and ConditionsPrivacy Policy, and Disclaimers have been updated.



Source link

Continue Reading

Market

Bitcoin Cash (BCH) Price Up, Leads Daily Gains

Published

on


Bitcoin Cash (BCH) price has risen more than 10% in the last 24 hours, surpassing the $10 billion market cap and signaling renewed bullish momentum. The recent surge has brought BCH closer to key resistance levels, indicating the potential for further gains if the uptrend strengthens.

However, indicators like the RSI and ADX show that while the trend is improving, it is not yet fully strong. Whether BCH can sustain its upward momentum or face a pullback will depend on how it navigates critical resistance and support levels in the coming days.

BCH Current Uptrend Is Getting Stronger

BCH currently has an ADX of 19.31, up from 12 just a day ago. This increase indicates that the strength of the trend is gradually gaining momentum after being weak.

However, since the ADX is still below 25, it suggests that the uptrend has not yet reached a strong or sustained level of trend strength.

BCH ADX.
BCH ADX. Source: TradingView

The ADX measures the strength of a trend, with values above 25 indicating a strong trend and below 20 indicating a weak or uncertain trend. While Bitcoin Cash is currently in an uptrend, the ADX at 19.31 suggests that the trend is still in its early stages of strengthening.

If the ADX continues to rise above 25, it could confirm a stronger uptrend, but for now, Bitcoin Cash price movement remains cautious, with room for further development.

Bitcoin Cash Is Not In The Overbought Zone Anymore

Bitcoin Cash has an RSI of 64.5, down from over 70 just a day ago. This decline suggests that while the asset is still experiencing bullish momentum, the intensity of buying pressure has started to decrease.

The drop below 70 takes BCH out of the overbought zone, indicating a more balanced market sentiment.

BCH RSI.
BCH RSI. Source: TradingView

The RSI measures the speed and magnitude of price changes, with values above 70 indicating overbought conditions and below 30 signaling oversold levels. At 64.5, BCH remains in bullish territory, which supports the ongoing uptrend.

However, the slight decline in RSI could mean the pace of gains is moderating, potentially leading to BCH price consolidation before any further upward movement.

BCH Price Prediction: Will a New Surge Occur Soon?

If BCH maintains its current uptrend and gains additional momentum, it could continue its rise after climbing more than 10% in the last 24 hours.

BCH Price Analysis.
BCH Price Analysis. Source: TradingView

This strength could push BCH price to test the resistance at $536.9. Breaking this level would signal a continuation of bullish momentum and could attract further buying interest.

On the other hand, if the uptrend fades away and reverses, BCH price could retrace to test the nearest support levels at $424 and $403. If these supports fail to hold, the price could fall further to $364, representing a potential 27% correction.

Disclaimer

In line with the Trust Project guidelines, this price analysis article is for informational purposes only and should not be considered financial or investment advice. BeInCrypto is committed to accurate, unbiased reporting, but market conditions are subject to change without notice. Always conduct your own research and consult with a professional before making any financial decisions. Please note that our Terms and ConditionsPrivacy Policy, and Disclaimers have been updated.



Source link

Continue Reading

Trending

Copyright © 2024 coin2049.io