Apart from the BASHO team, the Plutus core team worked on adding decentralized governance support, as defined in CIP-1694, to Plutus v3. The Lace team continued the implementation of Posthog analytics and dedicated efforts to add Trezor support and implement the multi-delegation feature.
The report also mentioned updated statistics of the Cardano blockchain. The blockchain’s total transactions reached 72.7 million, while its native tokens exceeded 8.6 million.reached 1,271, while the number of projects launched touched 136.While development activity remained high, the native token’s price action turned bearish. As per, ADA’s price declined by more than 6% over the last week. At press time, it was trading at $0.2915 with a market capitalization of over $10 billion.
The price drop caused its MVRV Ratio to plummet. Additionally, negative sentiment around Cardano also remained relatively high. However, the whales continued to show interest inThe good news was that the bearish price trend might come to an end in the coming days. This possibility was pointed out by Coinglass. According to the chart, Cardano’s Open Interest was declining.
A drop in the metric usually means that the on-going market trend might change, giving hope for a price uptick.
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Source: CryptoAmb - 🏆 22. / 68 Read more »
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Source: CryptoAmb - 🏆 22. / 68 Read more »