1. Cardano Blockchain Development Progress

It seems that the U.S. Securities and Exchange Commission (SEC) has defined several cryptocurrencies, including Cardano (ADA), as securities. IOG, the research and development division of Cardano, has opposed the SEC’s claims and explicitly stated that ADA is not subject to U.S. securities laws. IOG supports regulations that respect the transparent and decentralized nature of Cardano and emphasizes the importance of understanding the role and value of blockchain, taking a stance directly against the SEC.

2. Metaverse Virtua Project

Concerns regarding the SEC’s actions have led to worries about a decline in the price of Cardano, but even in the worst-case scenario, it is argued that ADA will not fail as a cryptocurrency, and the likelihood of ADA being delisted from exchanges is low. While there may be some concerns due to the previous incident where XRP faced temporary trading suspension, similar measures are not anticipated for ADA.

3. ADA Market Analysis

The price of Cardano’s ADA has declined, and selling pressure currently dominates the market. It temporarily dropped to $0.359 and has since experienced a slight rebound. It is currently in a bearish market, with short-term price movements pointing downwards compared to long-term trends. Further declines are possible, and a rebound is needed. According to Elliott Wave Theory, there is a high probability of a downward trend, with a lower limit around $34.19. Caution is advised in the current situation, and a cautious approach is required regarding future price movements.

Quoted URL

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