Cardano Price Crashes Amid Governance Vote Deadline Looms

Cardano's price plummeted this week, losing over 6.3% in intraday trading, after a previous surge of more than 20% in just seven days.

The decline comes as Cardano's Constitutional Committee vote is running out of time, with only a few days left before the September 1 deadline to seat four elected members.

Currently, DRep support stands at 43%, while SPO support is at 15%, well below the required thresholds of 67% and 51%, respectively.

The vote's failure could lead to a shrinkage in the Constitutional Committee from seven active members to just three, potentially bottlenecking certain governance actions that require committee approval.