Cardano Launches 'Chang' Hard Fork, Introducing On-Chain Governance and Decentralized Decision-Making

Daily Top Performer — NULS (NULS)

Last Friday, the SPX index was up by 0.6%, investors are waiting for the June-quarter GDP report, which may impact future interest rate decisions by the Reserve Bank of Australia. The broader cryptocurrency market was up, with Bitcoin and Ether rising by 0.35% and 0.53%, respectively in the past 24 hours.

Today's top performer is NULS, which surged 10.6% after the announcement of the NULS Oracle as the first project of the Ecosystem Ignition Initiative.

NULS (NULS), founded on September 27, 2017, is a blockchain platform designed for enterprises, focusing on simplifying and reducing the cost of blockchain development. It offers modularity and subchain operability, allowing developers to customize the blockchain to their specific needs. NULS has announced the NULS Oracle, the first project under the NULS Ecosystem Ignition Initiative (NEII). This on-chain project will use Oracle services to improve user experience and will be integrated into more dApps as the ecosystem grows. It is currently in development.

Check Out the Latest Prices, Charts, and Data of NULSUSDT Perp!

Talk of the Town:

Cardano's "Chang" hard fork, activated on Sunday, introduces on-chain governance for the ADA cryptocurrency, allowing token holders to elect representatives and vote on development proposals. The upgrade replaces Cardano's founding entities with three new governance bodies: the Constitutional Committee, Delegate Representatives, and Stake Pool Operators. The Chang upgrade, which unfolds in two phases, marks the beginning of Cardano's Voltaire era, focusing on achieving full decentralization. This move aligns Cardano with the blockchain industry's decentralization ethos and enhances ADA's utility.

Check Out the Latest Prices, Charts, and Data of ADAUSDT Perp and ADA/USDT Spot!

Bitcoin Spot ETF Flows:

Between August 26 and August 30, 2024, the BTC Spot ETF experienced a significant decline. On August 26, the total ETF value was $202.6M, with no change in GBTC. By August 27, the total dropped to $127.1M due to reductions in both GBTC ($18.3M) and Non-GBTC ($108.8M). This decline continued with further decreases on August 28 and August 29, reaching $105.3M and $71.8M, respectively. On August 30, the total value rose to $175.6M despite substantial decreases in both GBTC ($70.2M) and Non-GBTC ($105.4M). Overall, GBTC saw a total decline of $119.2M and Non-GBTC $158.0M, resulting in a combined decrease of $277.2M. The current totals stand at -$19,852M for GBTC, $37,455M for Non-GBTC, and $17,603M overall.

Check Out the Latest Prices, Charts, and Data of BTCUSDT Perp and BTC/USDT Spot!

Airdrop to Watch:

Avantis updated its roadmap, announcing that the XP program will end on December 11, 2024, and the next phase will focus on decentralization and an airdrop. With only 17,248 users currently participating, Avantis, backed by Coinbase, presents a promising yet underutilized airdrop opportunity. Adding USDC liquidity on Avantis can earn XP and position you as a Base chain liquidity provider, potentially increasing your chances for the Base airdrop. There are still over three months to earn XP before the program ends.