Cardano Foundation Gains Approval to Pursue Generic Top-Level Domains

The Cardano Foundation received 74.5% community approval to pursue top-level generic domain names .ada and .cardano. This allows participation in the upcoming ICANN application window, marking ICANN's first acceptance of such applications in 13 years.

The Cardano Foundation plans to enhance trust, accessibility, and innovation within its ecosystem through these domain names.
The venture is fully funded by the Foundation but required community support for approval.
225 entities voted: 186 supported, 24 opposed, and 15 abstained.
The approval threshold was 66.7%, allowing the proposal to pass with 74.5% support.

Following this news, ADA's price increased by 0.29%, trading at $0.4171 despite a 14.38% drop in 24-hour trading volume to $617.91 million. Analysts suggest potential mid-term growth to $1.20 and a possible long-term increase to $10.