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Cardano ready to hand over control of $681 million treasury to the community

Fast Take
  • Cardano will hand over control of its treasury to its community.
  • The treasure is estimated at US$681,9 million.
  • Cardano has the 8th largest treasury in the sector.
ADA Cardano surpasses Bitcoin and Ethereum in daily transaction volume
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In a significant development in its ecosystem, Cardano (ADA) is close to handing over control of its treasury worth an estimated $681,9 million to its community, as highlighted by cryptocurrency tracker TapTools in data shared on June 13.

The very significant milestone for blockchain highlights Cardano's commitment to decentralization and community governance in its ecosystem. “Cardano has the 8th largest treasury in the sector and is being handed over to the community,” noted the TapTools survey.

The platform shared an image showing data relating to Cardano's treasury, highlighting that the blockchain holds ADA tokens valued at a staggering $681,9 million. In an unusual move, Cardano's treasury includes only its native ADA tokens.

 

It is worth noting that Charles Hoskinson reaffirmed recently the Cardano principles: Decentralization and Freedom. In a landmark moment for the cryptocurrency community, Charles Hoskinson, founder of the Cardano blockchain, brought to light a crucial message about the fundamental purpose of cryptocurrencies. The Cardano leader used a quote from the 1938 song “I Don't Want to Set the World on Fire” to exemplify the cryptocurrency ideal, saying: “Remember, crypto doesn't want to set the world on fire, it just wants to set the world on fire. wants to light a flame in your heart.”

Charles Hoskinson reveals Hard Fork this month to boost Cardano

Charles Hoskinson, the founder of Cardano (ADA), highlighted that blockchain is approaching an important update in its ecosystem. The Chang hard fork is expected to be launched later this month, promising to usher in a new era in the network that was titled the “Era of Voltaire”. The Chang hard fork aims to implement Voltaire, characterized by being a new governance system.

Read also   Could Cardano (ADA) cryptocurrency be the next big thing on the market? Analyst explains

Given the fervor that heats up the Cardano community amid developments in the ecosystem, many wonder whether this will drive a price increase for the ADA cryptocurrency.

“It looks like June will be the month that Cardano Node reaches 9.0. This means that Cardano is ready for the Chang fork and waiting for 70% of SPOs to install the new node. Then, a fork could occur pushing Cardano into the Age of Voltaire. It is the most significant milestone in the history of Cardano and the industry as a whole,” he said.

Disclaimer: The views and opinions expressed by the author, or anyone mentioned in this article, are for informational purposes only and do not constitute financial, investment or other advice. Investing or trading cryptocurrencies carries a risk of financial loss.
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