Cardano Foundation has spun out Veridian as an independent Swiss company and tokenized most of its 1 million shares on the Cardano blockchain. Veridian is the first company using the new CIP-0113 programmable-token standard for equity.
Cardano price has retreated toward $0.23 after rejection at the top of an ascending parallel channel, bringing the lower boundary near $0.21 into focus as daily and 4-hour momentum weaken. TradingView's Binance ADA/USDT daily chart showed Cardano at $0.
ADA was down 10.27% over 24 hours, while long liquidations reached $2.16 million across major exchanges in one hour.
ADA fell 4.86% over 24 hours, while $850,000 in long positions were liquidated during the same hour.
Cardano set a new single-block throughput record of 436 TPS on October 7, surpassing a 345 TPS reading recorded earlier the same day. The milestone reflects burst capacity rather than sustained network-wide throughput, while Ouroboros Leios is expected to target around 1,000 TPS as Cardano expands scalability. ADA traded near $0.
Veridian became the first company to use Cardano's new programmable-token standard for its equity, though the tokenized shares are not being offered to the public.
The analyst pointed to Cardano's position between its 20-week and 50-week moving averages and cited early 2020 as a similar period.
The application appeared during Reveal Day but has not received final approval or delegation.
The Cardano Foundation said on October 8 that its .ada application advanced to the next phase of ICANN's New Generic Top-Level Domain program after appearing among the submissions moving forward on Reveal Day. The initiative followed a governance action that passed with roughly 75% community support, with the Foundation seeking .
Veridian's independence could accelerate digital identity innovation, impacting global security, privacy standards, and blockchain adoption. Cardano Foundation spins out Veridian as an independent digital identity company.
The Cardano Foundation has spun out Veridian as an independent digital identity company after three years of development, with its shares tokenized on Cardano and plans to seek investors in 2027. The Cardano Foundation, in an announcement dated Oct.
ADA's latest 10% rally looks more like fresh leverage building up rather than a pure short squeeze.