Cardano Don Approve $70M IOE Grant, ADA Dey Eye Breakout
Di Cardano community don approve historic grant wey worth 96 million ADA (≈$70 M) for Input Output Engineering (IOE) to run one year upgrade roadmap for dem core protocol. The proposal gatz 74% voter approval, e mark di first time dem go direct fund Cardano core development from treasury. Dis milestone-based grant, wey Intersect governance body dey manage, go support beta scalability, cross-chain interoperability, developer tools and performance through projects like Ouroboros Leios, Hydra and Mithril. Dis disbursement go dey automatic through smart contracts and monthly update plus quarter budget report go dey required.
On-chain developer activity don increase, even though ADA drop under $0.62, dis show say builders still get strong confidence. For market, ADA dey trade near $0.73, e dey hold support around 200-day EMA (≈$0.70) and e dey test 50-day EMA at $0.72. Technical indicators show say MACD momentum dey improve and Bollinger Bands dey tight, e mean say ADA fit break above $0.74 and target near $0.79. If e no fit hold above 50-day EMA, e fit cause pullback go $0.68. Traders see IOE grant as bullish catalyst wey fit make Cardano network strong and carry ADA price momentum go.
Bullish
Di approval of 96 million ADA grant for IOE mean say community get strong support and e go make key network upgrades happen faster. Funding wey dey based on milestones plus on-chain check dey reduce execution risk. Plenty developer activity still dey despite price fall, e show say builders get confidence. Technically, ADA dey above 200-day EMA and dem don test 50-day EMA, together with better MACD momentum and Bollinger Bands wey tight, all these dey show say price fit rise reach $0.79. These factors join with the way treasury-backed development dey catalyze things, fit make ADA price get bullish outlook both short term and long term.