The Cardano (ADA) community is abuzz with excitement as the highly anticipated Chang hard fork approaches its launch. The native token of the Cardano ecosystem has experienced a surge of over 52% in key metrics leading up to the upgrade. Intersect, an organization within the Cardano ecosystem, recently provided comprehensive details and updates on the Chang hard fork, highlighting key dates and the progress of preparations for the upgrade.
Intersect revealed that the Chang hard fork group has finalized most of the preparations for the upgrade. A meeting was held to review the project’s desired thresholds and gather feedback from the Cardano community. The target date for the Chang #1 hard fork is set for Tuesday, August 27, with a final decision to proceed or not to be made on Friday, August 23. The readiness of key metrics, such as Stake Pool Operator (SPO) readiness, exchange liquidity, and DApp updates, has shown steady progress, leading to the proposed launch date.
The Chang hard fork team has verified the readiness of all key components and tools for the upgrade. The formal process for initiating the hard fork will include a four-day lead time for necessary governance actions and approvals. In the event of a change of dates, the next suitable window for the upgrade would be on September 3, 2024. However, all indications currently point towards August 27 as the most viable date for the Chang hard fork launch, with a pre-production hard fork scheduled for August 22.
On August 21, Cardano’s native token, ADA, experienced a significant rise in overall trading volume, jumping over 54% at the time. This surge in volume could signal a shift in Cardano’s price dynamics, potentially marking the end of a consolidation phase. The current trading volume for ADA is up by 36.21%, totaling around $428.88 million, with open interest also seeing a slight upward momentum of 4.66%.
The positive changes in ADA’s metrics, including the upcoming Chang upgrade, have likely played a role in fueling Cardano’s recent price increase in the last 24 hours. With growing interest and trading activity, the cryptocurrency may be poised for further gains as the Chang hard fork approaches its highly anticipated launch.
Leave a Reply