Analyst Predicts Cardano (ADA) To Rally By 75% As MVRV Ratio Plummets

In recent weeks, ADA, the native token of the Cardano network. has drawn much speculation due to a rather turbulent price performance resulting in a decline of 18.77% in the past month. This negative price movement is similar to the majority of the cryptocurrency market following unprecedented massive dips in the price of Bitcoin. 

Cardano Launches New Era Of Decentralized Governance 

In other news, the Cardano network is set to commence a new era in decentralized governance, according to an announcement by the CEO of the Cardano Foundation, Frederick Gregaard. In an X post on April 18, Gregaard stated the full constitution for this change in government “is on the horizon,” with an interim constitution now going into effect.

How To Get Free Crypto  

According to the Cardano Foundation boss, the interim constitution emphasizes core network values such as transparency, openness, and responsible decision-making. It aims to grant each ADA holder an influence in determining the future of the Cardano ecosystem via an inclusive government in which all stakeholders are privileged to certain rights and responsibilities as listed in the constitution. 

 ADA trading at $0.4778 on the daily chart | Source: ADAUSDT chart on

Featured image from Forbes, chart from Tradingview

Disclaimer: The article is provided for educational purposes only. It does not represent the opinions of NewsBTC on whether to buy, sell or hold any investments and naturally investing carries risks. You are advised to conduct your own research before making any investment decisions. Use information provided on this website entirely at your own risk.

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Author: Semilore Faleti

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