The start of 2024 has not been the most successful for Cardano, with its value falling 34% and lagging behind other major cryptocurrencies in terms of market capitalization, but recent developments could signal a shift for the better for this blockchain platform.
the U. S. Securities and Exchange Commission (SEC) recently suggested that #Cardano may not be classified as a security. This regulatory certainty may make Cardano more attractive to investors. In addition, if Cardano is re-registered with major trading platforms such as Robinhood, it could regain investor confidence and stabilize its market position.
Cardano plans to implement the Chang hardfork, which co-founder Charles Hoskinson calls a major milestone for the network and the crypto industry as a whole. The update is aimed at improving the platform's efficiency, governance, and possibly improving its market position and operational dynamics.
Though some are skeptical of the changes, the hardforks could be an important step in overcoming recent performance issues.
The success of the #bitcoin #ETF has led to speculation that other #cryptocurrencies will follow. Since #BTC already has its own Etf, Cardano could be a candidate for a similar product. However, Cardano's small market capitalization (¥1.4 billion) compared to Bitcoin's ¥140 trillion makes it difficult to get institutional support.
the creation of a Cardano ETF could attract more investment and raise Cardano's profile in the market, leading to a potential increase in its capitalization.
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