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Simon Chandler
Author
Simon Chandler
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ADA has risen by 3% in the past 24 hours, with its jump to $0.79 coming after Cardano voted with an 85% majority to ratify its first ever constitution.
The coin is now up by 4.5% in the past fortnight, but remains down by 21% in a month, following a period of tariff- and inflation-related turbulence and uncertainty.
ADA does, however, remain up by 25% in a year, with the coin’s fundamentals strengthened in the wake of the constitution’s confirmation.
And with the Chang hard fork also initiating in the past couple of days, the medium- and long-term future looks increasingly promising for Cardano.
Cardano Ratifies Constitution with Overwhelming 85% Approval – Will ADA Surge?
Cardano had an interim constitution in place since June of last year, yet the newly approved constitution introduces a few important changes, related to widening participation, providing a clear amendment process, and also ensuring transparency in decision-making.
The new constitution received approval from 85% of voters, with voting taking place primarily via the delegation of ADA.
An interim constitutional committee also voted 7-0 to ratify the constitution, and over time Cardano will replace this committee with an elected one.
More immediately, the constitution’s approval has allowed for the initiation of the long-awaited Chang hard fork, which will expand on-chain governance and help foster greater development.
This is all very bullish for ADA, which has outperformed the market today as a result, with its chart showing a strong improvement in momentum.
Most notably, its 30-period average (orange) is just about to overtake the 200-period average (blue), forming a golden cross that often signals a breakout.
ADA’s relative strength index (purple) also looks bullish, insofar as it has risen from 30 only a couple of days ago to around 60 today.
It would therefore appear that some buying pressure has returned to Cardano, although its trading volume remains relatively low today, at $642 million.
This represents a massive 91% drop-off compared to where it was in December.
However, one substantial buy could be enough to set off Cardano, and given the coin’s fundamentals, it could rise strongly in the coming months.
It may reach $1 again by Q2, before climbing to $2.50 by H2.
High-Potential New Altcoins – Which Tokens Are Set to Explode?
ADA is a fundamentally strong coin, but it has remained something of a slow burner for quite a while now, so some traders may prefer to look to alternatives with more short-term potential.
Of course, picking a new alternative that will rally strongly can be a tricky business, but one way of narrowing the field is to look to presales that have been successful in attracting above-average funding.
One new token doing that just now is MIND of Pepe (MIND), an ERC-20 cryptocurrency that has raised $6.6 million in its accelerating presale.
What’s interesting about MIND of Pepe is that it will launch an autonomous AI agent, which in the vein of Truth Terminal will generate its own meme coins.
Not only that, but MIND of Pepe’s platform will scan masses of social and market data to produce market analysis and advice, while also using big data to identify trends it will tap into via its self-generated tokens.
As its native token, MIND is bullish because it’s the only way of gaining access to its pronouncements, while it will also grant early access to the tokens it creates, before they list.
MIND could therefore attract considerable demand, with investors able to buy it early by going to the MIND of Pepe website.
MIND is currently selling at $0.0033587, with this price set to rise again tomorrow.
Judging by how much it has raised, and judging by its follower count on X, it has every chance of having a big opening when it lists in the coming weeks.
