Cardano ($ADA ) Moves Closer to Plomin Hard Fork Activation:
Key Milestone Reached
Cardano (ADA) is taking another significant step forward as it
prepares for the Plomin hard fork, a key event in its roadmap to fully decentralized governance. Input Output Global (IOG), the
development team behind Cardano, has officially signaled their support for the upcoming activation. This comes after a
thorough review of the network’s readiness, with all conditions
for the governance action, as outlined by the Interim
Constitution, now being met.
As of January 18, 2025, IOG has given the green light for the
Plomin hard fork to proceed, marking a pivotal moment in
Cardano’s development. The milestone was made possible due to the successful upgrade of at least 85% of stake pools, which
are now running client node versions (10.1.3 or 10.1.4) capable
of supporting the advanced protocol rules. This upgrade
ensures that the network can handle the new consensus
requirements and is a critical step toward the full deployment
of Plomin.
Beyond the technical advancements, Cardano’s growth is also
reflected in the rise of its Total Value Locked (TVL) in
decentralized finance (DeFi). In just the first month of 2025,
TVL has surged by 25%, increasing from $430 million to $538
million. Notably, DeFi platforms such as Liqwid, MinSwap, and
Indigo have contributed significantly to this growth, accounting for more than 60% of the increase. The momentum in Cardano’s ecosystem reflects the increasing interest and confidence from both developers and investors.
Despite a slight 4.8% dip in ADA’s price, which currently hovers
around $1.07, Cardano’s progress with the Plomin hard fork,
along with its expanding DeFi presence, signals positive long-
term prospects. The upcoming upgrade is set to play a key role
in further decentralizing Cardano’s governance, aligning with its vision of becoming a more efficient and self-sustaining
blockchain ecosystem.
#Cardano #ADA #PlominHardFork #DeFi
