Cardano’s ADA Price Skyrockets 30% as CIP 1694 Paves the Way for Decentralization

• Cardano’s native token, ADA, has seen a 30% price surge since the start of 2021.
• Charles Hoskinson, Cardano’s founder, has responded to comments about ADA’s skyrocketing price and boasted that additional gains are coming with upcoming improvements on the Cardano Network.
• The Cardano Improvement Proposal (CIP) 1694 seeks to bring Cardano into the Voltaire Era.

The start of 2021 has seen Cardano’s native token, ADA, experience a massive surge in its trading price. After hovering around the $0.25 mark for the past month, the price of ADA has skyrocketed nearly 30%, leading to Cardano’s founder, Charles Hoskinson, taking to Twitter in celebration. In his response tweet, Hoskinson boasted that more gains are coming as the Cardano Network is improved, and he thanked the Cardano community for their continued support and hard work.

The primary driver behind ADA’s skyrocketing price is the hype around the upcoming DJED stablecoin launch. The DJED stablecoin, which is set to launch in 2021, will be the first stablecoin to be launched on the Cardano blockchain. Additionally, the news that Hoskinson’s new healthcare facility would accept ADA as payment could have also contributed to the token’s mad surge.

The next step in Cardano’s journey is the Cardano Improvement Proposal (CIP) 1694, which seeks to bring Cardano into the Voltaire Era. CIP 1694 is a proposed upgrade that will enable a smooth transition into fully decentralized governance. The proposal was put forward by Jared Corduan, a software engineering lead at Input Output Global, Cardano’s developer company, in November 2022.

If adopted, CIP 1694 will be the fifth and final stage in Cardano’s roadmap, and it will see millions of people collaborating for the growth and utility of ADA. It will also mark the beginning of a new era for Cardano and its native token, as the network begins to move towards full decentralization.

Charles Hoskinson and the Cardano team are confident that with the implementation of the CIP 1694, the Cardano Network will be even stronger and more useful than ever before. They are looking forward to the launch of the DJED stablecoin and the next steps in Cardano’s journey towards full decentralization. With this in mind, it’s no wonder that ADA’s price is skyrocketing, and it’s likely to continue to do so for the foreseeable future.