As a seasoned crypto investor with a strong belief in the potential of decentralized projects, I’m thrilled to see Cardano (ADA) outperforming other top 10 cryptocurrencies this week. With a weekly gain of over 20%, Cardano is preparing for an exciting hard fork, named Chang, which promises significant enhancements to its governance functionality.
The current ranking places Cardano (ADA) among the top 10 cryptocurrencies, and it has managed to increase its value by over 20 percent in just one week, surpassing the weekly growth rates of other major cryptocurrencies.
Cardano is gearing up for the Chang hard fork, which will roll out governance features gradually. This phased approach aims to facilitate a smoother experience for newcomers or those assuming expanded roles within the governance structure.
This week saw a notable achievement in the lead-up to the Chang hard fork as Cardano released node version 9.0. This signifies the conclusion of the main development phase for the foundational stage of on-chain governance, with only minor adjustments needed to integrate Cardano’s constitutional elements.
In the newly released Cardano node version 9.0, some long-awaited features have been incorporated. These include the ability to use Plutus v1 reference scripts and support for Plutus script signatures through CIP-69. This significant step is essential for implementing the decentralized governance outlined in CIP-1694.
Cardano price jumps
Currently, ADA has experienced a growth of 5.65% within the past 24 hours, reaching a price of $0.4227. Over the past week, there has been an impressive increase of approximately 20%, lifting its value.
The upcoming Chang update for Cardano has sparked renewed excitement within the community, as evidenced by the recent surge in ADA‘s value. This positivity is not unwarranted given Cardano’s historical trend of strong performance prior to significant upgrades.
As a researcher studying the cryptocurrency market trends, I’ve noticed an intriguing observation made by on-chain analytics firm IntoTheBlock. They pointed out that the price of Cardano (ADA) experienced a significant surge of approximately 130% over the course of a month leading up to its previous hard fork in 2021. This price increase took ADA from $1.35 to a peak of $3.10.
The enthusiasm surrounding the price of Cardano is fueled not just by the upcoming upgrade but also by the broader recovery of the cryptocurrency market. Not only has ADA seen growth in its USD value, but it’s also performing strongly against Bitcoin. For the past four days in a row, Cardano has posted gains versus Bitcoin, signaling robust market stability.
Over the next few days, observers will carefully watch the price trends of ADA to see if it continues to gain momentum.
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2024-07-13 15:40