The Cardano blockchain is approaching its highly anticipated Chang upgrade, marked by the release of Cardano Node 9.0.0, which aims to introduce decentralized governance to the network. At the same time, Cardano's ADA is experiencing a substantial surge in large holder inflows, indicating increased interest and activity among major investors. Additionally, the blockchain-based sci-fi shooting game Chronoshot has become available for wishlisting on the Epic Games Store, showcasing Cardano's expanding presence in the gaming industry.
Chronoshot: A Sci-Fi Shooting Game Powered by Cardano, Now Available on Epic Games Store
Chronoshot, a free-to-play sci-fi shooting game powered by the Cardano blockchain, is now available for wishlisting on the Epic Games Store. This milestone marks a significant step for blockchain-based games making their way into mainstream gaming platforms.
Charles Hoskinson, the founder of Cardano, expressed his enthusiasm in a social media post, stating, "Cardano Games on Epic makes me happy." This sentiment echoes the growing anticipation among gamers and blockchain enthusiasts alike as they look forward to exploring this innovative game. Currently, Chronoshot is in its early access phase, indicating that it is still under development. However, Epic Games decided to introduce the game to players ahead of its full launch to gather feedback and build momentum.
The early access version of Chronoshot includes two single-player modes, each with its own leaderboard. This setup allows gamers to compete for high scores while testing out a select number of characters. The decision to release the game in early access is strategic, aiming to engage the gaming community early and incorporate their feedback into the development process. This approach also helps in building a dedicated player base well before the game's full release.
One of the most anticipated features, the multiplayer mode, will become available only after the full launch, expected later this year. This delay allows the developers to fine-tune the multiplayer experience and ensure a seamless launch.
Additionally, players will need to create a free RFLXT account to play the game. The RFLXT platform is designed to enhance gameplay by integrating dynamic Cardano-based non-fungible tokens (NFTs), which allow players to level up their characters and gain competitive advantages.
RFLXT has emphasized its commitment to interoperability, stating on X, "Our platform was always designed with interoperability in mind, so players on Epic will create RFLXT accounts and be able to utilize our RFLXT features in-game as they're launched." This integration not only adds a new layer of engagement for players but also showcases the potential of blockchain technology in gaming.
Leveraging Blockchain and AI
The RFLXT studio is at the forefront of leveraging blockchain and artificial intelligence to enhance gaming experiences. Their platform enables interaction with communities through digital doubles and games, creating a more immersive and personalized experience for users. According to RFLXT, the early access phase is designed to familiarize users with the platform over the next few months, encouraging them to engage with the development process.
Cardano (ADA) Sees Massive Surge in Whale Inflows: What Does It Mean for the Market?
Meanwhile, Cardano (ADA), currently ranked as the 10th largest cryptocurrency by market capitalization, is experiencing a significant surge in large holder inflows. This metric, which tracks the funds entering large holder, or whale, addresses, has shown a remarkable increase, signaling potential shifts in market dynamics.
According to data from IntoTheBlock, ADA has demonstrated an extraordinary 1,218% surge in large holder inflows. This surge was triggered by a dramatic spike in funds entering whale addresses, increasing from 14.51 million ADA on July 8 to a staggering 110.7 million ADA on July 9. This rise follows a period of flattened inflows that began on July 5, suggesting a renewed interest and activity among large holders.
Large Holder Inflows can be a critical indicator of market sentiment and activity. These inflows often signify substantial buying activity, as many whale addresses purchase ADA on centralized exchanges and then transfer their holdings to cold storage for long-term safekeeping. Such behavior can indicate confidence in the asset's future performance.
Moreover, spikes in Large Holder Inflows can also suggest price bottoms, as whales tend to buy in bulk following substantial price drops. Given the current market conditions, this scenario seems plausible for ADA. The crypto market has seen considerable fluctuations in recent weeks, with ADA prices falling to levels last seen in November 2023.
Currently, ADA's price is showing signs of stability, increasing by 1.37% in the last 24 hours to reach $0.3916. This price stabilization, coupled with the surge in whale inflows, might indicate that a significant market movement is on the horizon for Cardano. However, it's crucial to consider that large entities might also transfer funds for various business purposes, not solely for investment.
Potential Implications for ADA
The significant increase in whale inflows suggests several potential implications for Cardano:
Increased Buying Activity: The surge in large holder inflows indicates that whales are actively buying ADA, potentially signaling confidence in the asset's long-term value.
Market Confidence: As whales tend to buy substantial amounts of an asset, their activity can boost market confidence and attract more retail investors to ADA.
Price Stability: The influx of funds into whale addresses can contribute to price stability, as these large holders are less likely to sell their assets quickly, reducing market volatility.
Potential Price Bottom: The spike in inflows following recent price drops suggests that whales might be capitalizing on lower prices, potentially marking a price bottom for ADA.
The recent surge in whale inflows for Cardano comes at a time when the cryptocurrency market is navigating through a period of uncertainty and volatility. The broader market has experienced fluctuations, influenced by various factors such as regulatory developments, macroeconomic trends, and investor sentiment.
Cardano, known for its robust blockchain technology and active developer community, continues to attract attention from both retail and institutional investors. The recent spike in large holder inflows highlights the growing interest and confidence in ADA's potential.
Cardano Prepares for the Monumental Chang Upgrade with Release of Cardano Node 9.0.0
In a related development, Cardano (ADA) is advancing toward its highly anticipated Chang upgrade. This significant development is marked by the recent release of Cardano Node 9.0.0, which brings the blockchain closer to implementing one of its most ambitious upgrades to date.
Romain Pellerin, CTO at Input Output Global (IOG), emphasized the importance of this milestone on X, describing it as a "big deal" and a "foundational moment" for the Cardano community. In his announcement, Pellerin stated, "Hold onto your feathers, node 9.0.0 is out. Operators, ready yourselves for Chang upgrade. Chang brings decentralized governance, giving the Cardano community the power to vote and shape the network’s future on-chain."
Scheduled to occur by the end of July, the Chang upgrade is poised to be one of the largest in Cardano's history. This upgrade is particularly significant as it introduces decentralized governance to the Cardano blockchain, enabling the community to vote and influence the network’s future directly. The recent release of Cardano Node 9.0.0 is a crucial step towards this upgrade, facilitating the necessary groundwork for the transition.
Hoskinson also acknowledged the importance of this release, shining the spotlight on the potential impact of the Chang upgrade on the network's evolution.
Cardano has a history of positive responses to major upgrades. Notably, before its previous significant upgrade in 2021, ADA surged by 130%, increasing from $1.35 to $3.10 within a month. This historical context adds to the anticipation surrounding the Chang hard fork.
Details of Cardano Node 9.0.0
According to GitHub documentation, Node 9.0.0 is a major release that includes all the necessary changes for the Conway ledger era. This era introduces on-chain governance through CIP-1694, support for Plutus v1 reference scripts, and Plutus script signature support via CIP-69. This release is the first node capable of bridging the 9.0 hard fork (Chang) boundary on both the mainnet and long-running testnets like Preprod.
The release allows for the bootstrap phase of CIP-1694 in production environments (Protocol Version 9.0), though it does not yet enable DRep voting and all governance actions (Protocol Version 10.0). It is important to note that node 9.0.0 is delivered without a valid Conway-era Genesis file, which is required to cross the Chang hard fork. This file will be provided at a later date, necessitating a minor configuration update.
As Cardano approaches the Chang upgrade, the community and market participants are closely monitoring the developments. The introduction of decentralized governance is expected to enhance the platform's flexibility and responsiveness to community needs, potentially driving further innovation and adoption.
