In recent months, Cardano (ADA) has witnessed significant developments that could shape the future path of this blockchain. Strategic partnerships, technical changes, and regulatory decisions have all impacted the performance of Cardano’s price. One of the recent key events was Cardano’s collaboration with FC Barcelona. This project allows fans to participate in the club’s programs through Web3 technologies and AI, and receive exclusive non-fungible tokens (NFTs). On the other hand, Cardano Foundation’s implementation of the Plutus hard fork has brought significant changes to the governance of this blockchain, empowering ADA token holders in key decision-making processes. Additionally, Grayscale has filed for a Cardano exchange-traded fund (ETF) in the New York Stock Exchange, awaiting approval from the SEC, which could attract institutional investors and positively impact ADA’s price. However, regulatory pressures and recent market fluctuations remain potential threats to Cardano’s future. Technical analysis shows an upward trend for Cardano. After reaching $1.32 on December 13, 2021, ADA has corrected to $0.65, with strong demand levels between $0.42 and $0.46, indicating market stability.
