Cardano Set for Major Upgrade, Giving ADA Holders Voting Power

Cardano is on the verge of a major upgrade as the Plomin Hard Fork rolls out on January 29, 2025, at 21:45 UTC.

This milestone will introduce on-chain governance, granting ADA holders direct voting power on crucial network decisions, from protocol upgrades to treasury allocations.

With 66.67% approval, the governance shift solidifies Cardano’s commitment to decentralized decision-making. While the Eastern Cardano Council abstained, the proposal passed, enabling a governance model where ADA holders actively shape the network’s future.

In support of the upgrade, Binance will temporarily suspend ADA deposits and withdrawals starting 20:45 UTC. However, trading will remain unaffected, and normal services will resume once the network stabilizes. The exchange has assured users that all technical aspects of the transition will be handled internally.

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Despite the Plomin upgrade, ADA has slipped 3.12% in the past 24 hours, trading at $0.9311. However, analysts anticipate long-term gains, fueled by governance enhancements, increased adoption, and broader market trends. Speculation suggests ADA could reach $7.50 by mid-2025, driven by network growth, BTC liquidity, and expanding developer activity.

As Cardano strengthens its governance framework, the ecosystem continues positioning itself as a leading blockchain for decentralized decision-making and sustainable innovation.

Alexander Zdravkov

Alexander has been working in the crypto industry for three years, during which time he has established himself through his active participation in monitoring market dynamics and technological innovations. His interest in cryptocurrencies and new technologies is not just a professional commitment, but a deep personal passion. He follows the news in the sector daily, analyzes trends, and is excited about every new step in the development of blockchain solutions. His enthusiasm drives him to continuously learn and share knowledge, as he sees the future in digital finance and its role in global transformation.