ADA
Cardano cancels 2026 summit after governance vote fails
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The Cardano Foundation has canceled its flagship 2026 Summit in Singapore after a treasury funding proposal failed to secure required approval from delegated representatives.
Cardano's ADA token has dropped to around 16 cents, its lowest level since December 2020. The decline followed comments from founder Charles Hoskinson and project setbacks. Social media attention and on-chain activity have increased sharply during the selloff.
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Cardano's ADA token has bounced 23% in the past 48 hours, defending a key support level amid broader market turmoil. The Chicago Mercantile Exchange plans to launch ADA futures products on February 9, alongside those for Chainlink and Stellar. However, analysts warn that the long-term bearish trend may limit the rally's sustainability.