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Crypto News Flash (EN)

04/30/2024

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Cardano Investors Anticipate Chang Hard Fork: Potential Catalyst for ADA Bull Run

Cardano community is hyped over the forthcoming Chang Hard fork upgrade. While ADA price is not reflecting the growth sentiment yet, analysts are bullish on a breakout. Members of the Cardano (ADA)...

Cardano Investors Anticipate Chang Hard Fork: Potential Catalyst for ADA Bull Run
  • Cardano community is hyped over the forthcoming Chang Hard fork upgrade.
  • While ADA price is not reflecting the growth sentiment yet, analysts are bullish on a breakout.

Members of the Cardano (ADA) community are eagerly anticipating the launch of Chang hard fork which promises to be a game-changer for the network. The launch, which is slated to go live in Q2, 2024 could be a potential catalyst for ADA in the current bull run.

Enthusiasm for the Chang Hard Fork Launch

Taking to the X platform, prominent Cardano community member, Chris shared his sentiment on the launch of the Chang Hard Fork, stating, “I hear the Chang Hard Fork is going to be an absolute game changer for Cardano.”

I hear the Chang hard fork is going to be an absolute game changer for #Cardano. 🔥 https://t.co/r35P28slMb

— Chris O (@TheOCcryptobro) April 26, 2024

To provide context, the Chang hard fork is one of Cardano’s most important updates and marks the final stage of its roadmap, Voltaire. In this era, Cardano is set to deploy its governance journey throughout the year. As indicated, this fork will be deployed in three stages. 

The first stage will usher in a new governance feature called Delegate Representatives (DReps) to the network. Essentially, DReps are representatives or frontline officials of the Cardano community, elected by the community through ADA token delegation. Supposedly, they will be influential figures who will directly vote on all governance decisions and initiatives, guided by the Cardano Constitution.

The second stage focuses on a constitutional conference that will be held in Buenos Aires later this year. Governance officials will gather at the convention to draft the first version of the Cardano Constitution. 

Subsequently, the drafted Constitution will go for approval in the final stage. During this stage, the community will need to cast a vote to decide if the proposed legislation will become effective. Should the constitution be endorsed, it will serve as the cornerstone of Cardano’s decentralized governance model. It is important to note that the Cardano Constitution will be finalized by the end of the year.

ADA’s Potential Bull Run

ADA, the native cryptocurrency associated with Cardano has found itself under the watchful eyes of investors amid anticipation for the Chang hard fork. Taking the current price of ADA, the cryptocurrency projects the potential to break into a bullish stance in the aftermath of launching the Chang Hard Fork.

According to CoinCodex, Cardano has yet to build a strong market pace and is expected to see future price declines. The platform predicts that Cardano’s price momentum will stabilize after May 7, potentially helping the coin gain some stability. The coin is also expected to reach $0.49 by May 27, trading at $0.49 along the way. 

At the time of this writing, ADA is trading at $0.4423, down by 1.7% in 24 hours.

The market cap has also decreased by 1.69% to $15.7 billion. However, the trading volume is up 2.9% to $284 million. 

Prominent crypto analytics firm IntoTheBlock revealed that the average large transaction volume for Cardano has reached $13.84 billion daily over the past week. This increased activity among Cardano’s whales could be a sign of remarkable market movements and warrants attention from the crypto community. 

A probable breakthrough will increase buying pressure, encouraging investors to chase the $0.57 and $0.687 highs. Reiterating Crypto News Flash’s earlier reports, analysts believe that ADA could stage an explosive run in an attempt to break the $1 resistance level.


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This article is provided for informational purposes only and is not intended as investment advice. The content does not constitute a recommendation to buy, sell, or hold any securities or financial instruments. Readers should conduct their own research and consult with financial advisors before making investment decisions. The information presented may not be current and could become outdated.

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