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Cardano's Biggest Players Unite Behind 70M ADA Push to Spark On-Chain Growth
Source: CryptoNewsNet Original Title: Cardano’s Biggest Players Unite Behind 70M ADA Push to Spark On-Chain Growth Original Link: The Cardano network’s core developing teams have pushed through a 70 million ADA treasury withdrawal to fund a slate of long-delayed infrastructure integrations, a move that represents the most coordinated ecosystem action the network has seen in years.
ADA is higher by 9% over the past 24 hours, modestly outpacing a broader crypto market surge.
The proposal — backed by various teams such as Input Output, the Cardano Foundation, EMURGO, Intersect, and the Midnight Foundation — cleared a governance vote with more than 60% support from delegated representatives, making it the fastest approval since Cardano’s on-chain voting system went live.
Funds will be put into developing stablecoins, credible oracle feeds, cross-chain bridges, custody integrations, and analytics tooling, among other improvements to benefit the Cardano ecosystem.