- Cardano’s Plomin hard fork has shifted governance control to ADA holders.
- The upgrade enhances decentralization, making Cardano unique among top cryptocurrencies.
- Dan Gambardello predicts a potential price target of $13 if historical trends repeat.
Cardano has officially transitioned to a fully decentralized governance model with the launch of the Plomin hard fork. According to crypto analyst Dan Gambardello in a video posted on X, the upgrade, which went live this week, transfers control from the project’s founding entities to ADA token holders.
Gambardello argues the shift strengthens Cardano’s position in the market, predicting a price target of $13 based on historical trends.
What the Plomin Hard Fork Means for Cardano
Before the hard fork, governance decisions were made by Cardano’s three founding organizations: the Cardano Foundation, Input Output Global, and EMURGO.
With Plomin, these responsibilities are now in the hands of the community. More than 98,000 ADA holders, over 3,300 stake pool operators, and 745 delegated representatives now participate in governance. That makes Cardano one of the most decentralized blockchains in the top 10 by market cap.
According to Gambardello, decentralization has long been a key focus for Cardano. Unlike other major cryptocurrencies, where core teams or organizations control upgrades, ADA holders can now vote on major network decisions. This includes treasury management and future hard forks.
Price Outlook: Can ADA Realistically Reach $13?
Even with the significance of the upgrade, ADA’s price has remained relatively flat. However, Gambardello suggests that Cardano could be in position for a major rally.
Related: Cardano Transitions to Full Decentralized Governance – ADA On the Rise?
In his commentary, Gambardello compared ADA’s potential path to Ethereum’s performance in previous cycles. He noted that Ethereum surged 5,800% from its bear market low to its bull market high in the last cycle. If ADA follows a similar pattern, it could reach approximately $13 this cycle. This would bring its market cap close to $500 billion.
More conservative estimates suggest ADA could rise to $7–$10, reflecting 4,400% growth from previous lows. These targets align with historical crypto cycles, where major projects have experienced exponential gains following key upgrades.
Institutional Interest and Market Trends
Cardano has also caught the attention of institutional investors. Tuttle Capital recently applied for a 2x leveraged ETF for Cardano. Also, Grayscale readded ADA to its Digital Large Cap Fund, a sign of growing confidence in its long-term potential.
On-chain data also shows increased whale accumulation, further suggesting that large investors are preparing for a possible price increase.
Related: Cardano Price Set for Breakout? Prediction for January 28, 2025
While short-term price movement remains uncertain, Dan Gambardello emphasizes that patience is key. ADA must first break key resistance levels at $1.00, $1.06, and $1.25 to confirm a bullish trend.
If Cardano sustains momentum and follows historical patterns, the $13 target could become a reality this cycle. As of this press time, ADA is trading at $0.9616, representing a 1.6% increase in the past day.
Disclaimer: The information presented in this article is for informational and educational purposes only. The article does not constitute financial advice or advice of any kind. Coin Edition is not responsible for any losses incurred as a result of the utilization of content, products, or services mentioned. Readers are advised to exercise caution before taking any action related to the company.
