Cardano Treasury on the Rise
Cardano’s Treasury is growing rapidly, holding over 1.48 billion ADA, worth around $843 million. This war chest is designed to fund ongoing development.
Development Boost
The Treasury receives a fixed amount of ADA from each block of transactions confirmed (epoch). It also reserves a portion of transaction fees. As Cardano gains adoption and hosts more apps, the Treasury will continue to grow, providing funds for development.
Government Interest
Cardano is gaining favor with governments. Ethiopia is exploring using it for education, while agencies in the US and Europe are also looking into the platform.
Rumors of Partnerships
There are rumors that US states are considering Cardano for a transparent blockchain voting platform. However, details are scarce.
ADA Price Drop
Despite the Treasury growth, ADA prices have dropped 30% from March highs. Sellers have been active, pushing the price below $0.55.
Bullish Outlook
Some analysts remain bullish. The 2-week chart shows a green wave, similar to the one seen at the start of the 2020 bull run.
