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A Wyoming Government Official Says “Cardano Is Not Decentralised, Run By a Company”: Big Controve...
Cardano is a popular Proof-of-Stake (PoS) crypto network. This project was developed & launched by Charles Hoskinson in 2017. Before the Cardano project, Hoskinson was one of the contributing developers in the Ethereum project, as a co-founder. Because of some disagreement with the core Ethereum co-founder Vitalik Buterin, Hoskinson left the Ethereum project to develop & launch his separate blockchain as a rival of Ethereum.
On 14 Dec 2024, A video clip was shared by Cardano enthusiasts, in which a Wyoming stablecoin project official called Cardano a non-decentralized blockchain network & also claimed that a company (IOG) runs it.
Cardano is not decentralized, but based in Wyoming, and run by a company, according to the Wyoming Stable Token @wyostable @wyoapollo 🤡 #Cardano pic.twitter.com/sOTqJR0sRI
— St₳ke with Pride 🌈 SPO & DRep (@StakeWithPride) December 14, 2024
In short, the Wyoming stablecoin project official believes the Cardano blockchain is run by Input Output Hong Kong Global (IOG) under a centralised medium.
In response, Cardano founder Charles Hoskinson said that the person who called Cardano a non-decentralized blockchain network is a former Ethereum developer firm Consensys employee.
Hoskinson explained that Cardano was criticized because he was a former Ethereum project contributor, and some interpreted his actions as negativity toward Cardano due to his past rivalry with Ethereum.
This is the guy who made the decision to exclude Cardano, XRP, ICP, Bitcoin, Hashgraph, etcBut he did include Ethereum. He knows a lot about it, given his former employer was Consensys… https://t.co/wfC2thhTB6
— Charles Hoskinson (@IOHK_Charles) December 14, 2024
Hoskinson claimed that this is the only person who excluded Cardano, XRP, ICP, Bitcoin, Hashgraph, etc like top crypto projects from the contribution in Wyoming stable token.
Wyoming Stable Token & controversy
A month ago, the Wyoming stable token project team considered taking help from Solana, Avalanche, Sui, Steller, Ethereum, Polygon, Arbitrum, Base, & Optimism.
At the time, Cardano’s founder claimed that a former Ethereum employee played a clever game against Cardano, like innovative crypto projects. He also claimed that Wyoming Stable token project officials didn’t follow any proper way for all the crypto project teams to demonstrate blockchain functionality.
Read the full story here! https://t.co/5r7WWJ1zF2#Cardano Founder Slams Wyoming for Snubbing $ADA Team in #Wyoming Stablecoin Project
— Bitcoinik (@Bitcoinikdotcom) November 23, 2024
Read also: Cardano ($ADA) coin following super rocket pattern! Hoskinson Reveals Decentralised Map 2025
Cardano Whales Acquire Over 80 Million ADA in Recent Surge
According to Odaily, on-chain analyst Ali (@ali_charts) revealed on the X platform that Cardano whales have purchased more than 80 million ADA in the past 48 hours. This significant acquisition highlights the growing interest and activity among large holders of Cardano's native cryptocurrency, ADA.The recent buying spree by these influential investors suggests a potential shift in market dynamics, as whales often play a crucial role in influencing price movements and market sentiment. The substantial volume of ADA acquired indicates confidence in the cryptocurrency's future prospects, possibly driven by ongoing developments and partnerships within the Cardano ecosystem.This surge in whale activity comes amid a broader context of fluctuating cryptocurrency markets, where investor sentiment can rapidly change based on various factors, including technological advancements, regulatory updates, and macroeconomic trends. As Cardano continues to evolve and expand its capabilities, the actions of these large holders may signal a strategic positioning for anticipated growth and adoption.Market observers and participants will likely keep a close watch on further movements by Cardano whales, as their actions could provide insights into the potential trajectory of ADA's value and its role within the broader cryptocurrency landscape. The recent acquisition underscores the importance of monitoring on-chain data to understand the behavior of key market players and their impact on the digital asset market.
I do expect a new ATH to come for this ecosystem in Q1 - 2025.
$ADA
This one has been doing great, but it's just barely up. Back in the old range, and I think that $0.75 & $1 are two great swing trade entry zones. I do expect a new ATH to come for this ecosystem in 2025.
Cardano’s Voltaire era just got real—95% of delegates greenlit its Constitution, locking in governance power moves.
DeFi's booming: TVL popped to $686M, projects hit 1,979, and ADA’s up 184%—now at $1.20; IOG says Cardano’s racking 100M+ transactions and a crazy 2.65M in November alone.
On-chain review’s next, but Cardano’s already proving it’s not just hype—it’s ecosystem goals.
Based on historical cycle research and market momentum, cryptocurrency expert Dan Gambardello predicts a Cardano price increase to $2.
His October prognosis when ADA traded at $0.35 has come true with the token's surge past $1, but the rally's rapidity raises short-term price action concerns.
Historical Patterns Predict $2 Cardano Price. Gambardello compares Cardano's current market behavior to its prior bull cycle, concentrating on Bitcoin's halving events.
Based on previous fractal patterns, the analyst correctly predicted Cardano's return to dollar-plus territory on October 11th when the token was $0.35.
This research is based on cryptocurrency market cyclicality, especially the association between Bitcoin halving occurrences and altcoin seasons.
It seems Cardano is in a similar situation as 2021, before its price surge.
Cardano price's current technical structure resembles the previous cycle's breakout pattern but with far more velocity.
The researcher finds “bull market doors”—technical resistance levels that, when breached, led to price gains.
These swing high and lower high levels are important technical indicators for price growth.
Once Cardano pricing breaks over its present barrier, Gambardello says it might reach $2 “in a matter of weeks,” similar to how it rose after hitting $1 in past cycles.
Current rally speed raises concern
Even seasoned observers are surprised by Cardano's rapid climb. Gambardello said that breakthrough to bull market resistance took 31 days, compared to 80 days in 2021.
Key moving averages show the quick rise. The 20-day, 50-day, and 200-day moving averages separated quickly after periods of consolidation.
The route to $2 is apparent despite near-term caution. After consolidation, Gambardello says $2 could be reached “in a matter of a couple of weeks.”
Cardano Foundation X Account Hacked Please Don’t Interact With fake Posts Wait for an official announcement on recovery $ADA holders don’t panic, stay diamond hands 🙌🏻💎
technical analysis for $ADA /USDT along with trade signals and three target levels:
Technical Analysis (ADA/USDT)
Current Price: 1.1988 USDT
24h High: 1.3264 USDT
24h Low: 1.1401 USDT
Price Movement: ADA has recently shown a positive trend (+3.51%) over the past 24 hours, indicating a potential bullish momentum. However, it’s facing some short-term volatility with negative changes in 15m, 1h, and 4h intervals.
Key Support and Resistance Levels
Support: The key support level is around 1.1400 USDT. If the price falls below this level, it may look for support near 1.1000 USDT.
Resistance: The price is facing resistance near 1.3000 USDT, with a potential breakout point at 1.3264 USDT (24h high).
Trade Momentum
Short-term Momentum: The short-term momentum is slightly bearish due to negative changes observed in the 15m, 1h, and 4h intervals. However, the 24h positive price movement suggests that ADA is on an upward trend in the longer term.
Medium-term Momentum: If the price breaks above 1.3000 USDT, it could gain further bullish momentum towards the next target levels.
Trade Signals
1. Buy Signal:
Enter at or near 1.2000 USDT if the price shows signs of holding above support.
Set a Stop Loss at 1.1400 USDT to minimize risk.
2. Sell Signal:
If the price fails to break the resistance at 1.3000 USDT, consider exiting or setting a Take Profit target at 1.3200 USDT or higher.
Target 3: 1.3500 USDT (Aggressive target if the breakout sustains).
Trade Momentum Summary
Bullish Momentum: ADA is showing strong potential for upward movement if it maintains its position above 1.2000 USDT and can break through resistance near 1.3000 USDT.
Bearish Momentum: If the price dips below 1.1400 USDT, a bearish trend may develop with further downside targets.
Just in: @FilFoundation & @blockfrost_io are teaming up to power @Cardano apps with #Filecoin’s decentralized storage!
Blockfrost will archive its @IPFS Gateway clusters on #Filecoin, introducing a new service tier combining IPFS and Filecoin storage for Cardano builders. 🌐
This collaboration boosts app resilience and unites two leading layer-1 ecosystems: Cardano & Filecoin.