Cardano ADA Price Jumps 3.8% After $71M Development Fund Approval

Cardano's ADA is up 3.81% today at $0.733 after the community approved a massive $71 million funding package for network upgrades. This could be huge for ADA's future.

ADA Price Rallies on Historic Community Vote

Cardano's development team just got approval for 96 million ADA (worth $71 million) from the treasury. The vote passed with 74% support - that's 200 votes for, only 6 against.

This is the first time Cardano's community directly funded core development. We're talking 13% of the entire treasury here. The smart part? Payments are milestone-based, so the team has to deliver to keep getting paid.

What This Means for Cardano ADA Price

Two big upgrades are planned:

• Hydra: Layer-2 scaling for faster, cheaper transactions. Currently, Cardano takes 20 seconds per block and costs 0.34 ADA per transaction.

• Project Acropolis: Complete node redesign to make it easier for developers to build on Cardano.

More developers = more apps = more demand for ADA. Simple economics.

The competition is heating up though. Solana just boosted capacity by 20%, and Ethereum has major upgrades coming. But Cardano's community-driven approach just secured serious backing.

ADA sits at #10 with a $25.96 billion market cap. If these upgrades deliver, this $71 million could be the best investment Cardano ever made.