Cardano Faces Crisis as 86% Reject 33M ADA Proposal
- Voting Crisis: The Cardano network faces a significant crisis as only 13.28% of voters support the proposed 33 million ADA R&D fund by IOG, with opposition exceeding 86%, indicating severe internal divisions; if the proposal fails, influential delegate Chris O threatens to sell his ADA holdings and withdraw from the network, potentially destabilizing governance.
- Intensified Governance Disputes: Chris O criticized fellow delegate YUTA for abstaining from the vote, arguing it could harm Cardano's development, while YUTA suggested splitting the proposal into smaller parts to prevent misallocation of treasury funds, highlighting deep-rooted conflicts in the governance process that could affect future decision-making effectiveness.
- Founder’s Warning: Cardano founder Charles Hoskinson warned that if the proposal is rejected, IOG will not resubmit it, and several research labs may close, along with key engineers leaving the project; he emphasized that the failure of the proposal jeopardizes Cardano's research-driven development model, impacting ongoing blockchain advancements.
- Deadline Approaches: As the voting deadline approaches, DReps are caught between ambitious long-term goals and careful budget management; Chris O's statements have drawn greater attention to the vote, and the ongoing divisions in governance may significantly influence Cardano's future development trajectory.
Get Real-Time Alerts for Any Crypto Movement
Technical Analysis for ADA
Technical Sentiment Analysis for Cardano (ADA). As of , Cardano (ADA) is exhibiting a Neutral technical sentiment. Our proprietary analysis, which aggregates 7 technical signals, shows that 4 indicators are flashing buy, while 3 are indicating sell.
Momentum Indicators: RSI, MACD & Overbought/Oversold Status. Currently, the Relative Strength Index (RSI) for ADA stands at -, which suggests a Neutral condition. Meanwhile, the MACD (12, 26) indicator is at -, providing a Neutral signal for short-term momentum. Other oscillators like the Stochastic Oscillator at - and the Commodity Channel Index (CCI) at - further confirm a - outlook for the crypto.
Support, Resistance & Moving Averages. From a structural perspective, ADA is trading below its 60-day moving average of $- and below its 200-day long-term moving average of $-. Key price levels to watch include the immediate resistance at $- and strong support at $-. A break above $- could signal a bull continuation, while falling below $- may test the next Fibonacci floor at $-.
Cardano (ADA) Support & Resistance Level
| Name | S3 | S2 | S1 | Pivot Points | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Classic | 0.196 | 0.216 | 0.233 | 0.253 | 0.27 | 0.29 | 0.307 |
| Fibonacci | 0.216 | 0.23 | 0.239 | 0.253 | 0.267 | 0.276 | 0.29 |
About ADA
About the author
