Cardano leads in sustainability reporting ahead of MiCA regulations

The Cardano Foundation has released sustainability indicators for its network. This is well ahead of the European Union’s Markets in Crypto-Assets (MiCA) regulations, which are set to take full effect in December 2024. 

Cardano’s sustainability report was developed in partnership with the Crypto Carbon Ratings Institute (CCRI). It showcases the network’s energy-efficient Proof-of-Stake consensus mechanism.

This approach mainly reduces electricity consumption compared to Proof-of-Work blockchains like Bitcoin. The report provides detailed information on Cardano’s total annualized electricity usage, carbon footprint, and even the marginal power required per transaction.

Fredrik Gregaard, CEO of the Cardano Foundation, emphasized the importance of this initiative, stating, “By developing MiCA-compliant indicators, we want to ensure adherence to regulations and set a benchmark for the industry.”

Cardano ADA long-term price prediction

While Cardano focuses on sustainability, long-term price predictions for its native token, ADA, paint an optimistic picture. Crypto exchange platform Changelly has released a bullish analysis for ADA.

The platform suggests that ADA could potentially reach $100 by 2040. This would require a five digit price hike from its current price of around $0.4094.

The forecast doesn’t stop there. Changelly predicts ADA could hit $250 just six months after reaching $100. The analysts set a minimum price target of $192 by September 2040.

Looking even further ahead, they suggest a $360 price point could be achievable by 2050, requiring an astounding 87434.4% growth over 26 years.

Even though ADA is showcasing muted performance lately, these ambitious predictions, alongside Cardano’s commitment to sustainability and regulatory compliance, present a glimpse of hope for the coin.

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Also Read: Shiba Inu price eyes higher ground after massive token burn

Vignesh Karunanidhi

Vignesh Karunanidhi is a crypto journalist with a knack for making complex financial topics accessible and entertaining. Through his engaging writing style and strong social media presence, he have built a dedicated community of crypto enthusiasts eager to stay informed about the latest market trends and innovations. Additionally, Vignesh offers valuable perspectives on the factors driving crypto prices.

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