Cardano (ADA) Price Turns Bullish as Key Upgrade Date Nears: Details

As a seasoned researcher who has witnessed the rollercoaster ride that is the cryptocurrency market, I find myself intrigued by the current price action of Cardano (ADA). Despite the general market uncertainty and losses in major players like Bitcoin and Ethereum, ADA seems to be bucking the trend.


Currently, the value of Cardano (ADA) – the eleventh-largest cryptocurrency based on market cap – is seeing an uptick in its price, despite a mixed trend observed across the broader crypto market.

Following several days of stability, the price of ADA hinted at an uptrend. This bullish trend is noteworthy given the wider crypto market’s uncertainties, making ADA’s price activity especially meaningful.

The top digital currencies, Bitcoin and Ethereum, are experiencing setbacks as investors hold their breath for the disclosure of the minutes from the most recent Federal Reserve gathering. In the past 24 hours, Bitcoin dropped by approximately 1.99%, whereas Ethereum saw a fall of around 2.54%. Numerous other cryptocurrencies are also grappling with losses within this timeframe.

Currently, as I type this, ADA has climbed by 2% over the past 24 hours to reach $0.3515. It has also increased by 3% in the last week. This growth follows on from a dip on Monday when its price was at $0.327, marking a rebound from that point.

As a crypto investor, it’s thrilling to witness the surge in Cardano’s ADA price aligning with the momentous milestone of the upcoming Chang hard fork. Yesterday, a proposed timeline for the activation of this upgrade was unveiled, igniting a wave of excitement within the crypto community as we eagerly await its implementation.

As the Chang 1 hard fork activation day draws near, I find myself keeping a keen eye on the Cardano (ADA) price, hoping it maintains its recently discovered bullish energy. The market’s movements are intriguing, and I can’t help but wonder what impact this hard fork might have on my crypto portfolio.

Cardano Chang 1 dates announced

In a recent update, Intersect – a community group focused on the Cardano ecosystem – announced proposed dates for the initial Chang hard fork (Chang #1) to take place on the main network.

— Intersect (@IntersectMBO) August 20, 2024

The mainnet hard fork is planned for Tuesday, August 27th. A final decision on whether it will proceed or not is expected by early Friday, August 23rd.

Based on my research findings as a researcher, while Intersect suggests that the Chang hard fork should occur on September 3, current indications seem to point towards August 27 as a more feasible date. This appears to be the target that the hard fork working group technical teams are striving for at this moment.

Beginning August 22, we’ll kick off the preliminary phase, which involves a significant update known as a “hard fork” called Chang. This hard fork will usher in Plutus V3 and on-chain governance to enhance the Cardano network’s capacity for handling more transactions (scalability) and its level of decentralization.

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2024-08-21 16:24