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