The Cardano (ADA) community is buzzing with excitement as the highly anticipated Chang hard fork approaches. ADA, the native token of the Cardano ecosystem, has seen a massive surge of over 52% in key metrics leading up to the upgrade. Intersect, a member-based organization for the Cardano ecosystem, recently shared detailed updates on the upcoming Chang hard fork on social media platform X (formerly Twitter). The organization revealed that the majority of preparations for the hard fork are complete and key dates have been set.
According to Intersect, the Chang hard fork group recently held a meeting to review the project’s desired milestones and gather feedback from the community. The target date for “the Chang #1 hard fork” is scheduled for Tuesday, August 27, pending a final decision on Friday, August 23. The team has confirmed the readiness of essential components such as Stake Pool Operators, exchange liquidity, and updates from Decentralized Applications. The hard fork process will commence with a four-day lead time for governance actions and approvals.
In the wake of the upcoming Chang hard fork, Cardano’s native token ADA has experienced a significant increase in trading volume. Coinglass reports a remarkable jump of over 54% in trading activity, indicating growing interest from investors. This surge in volume could signal a shift in ADA’s price dynamics, potentially marking the end of a prolonged consolidation phase. Current trading volume stands at around $428.88 million, with an open interest increasing by 4.66%.
With the Chang hard fork on the horizon and positive changes in ADA’s metrics, Cardano’s recent price surge can be attributed to these developments. The cryptocurrency market is closely watching the progress of the upgrade and the impact it will have on ADA’s performance. The upcoming hard fork represents a significant milestone for Cardano and its community, signaling potential growth and advancements in the ecosystem.
As Cardano prepares for the Chang hard fork, stakeholders and investors are eagerly anticipating the next steps in the project’s evolution. The surge in ADA’s trading volume and price movement reflect growing interest and confidence in the cryptocurrency. The successful implementation of the hard fork could propel Cardano to new heights and solidify its position in the competitive blockchain landscape. Stay tuned for more updates on Cardano’s Chang hard fork and its impact on the market.