Cardano's ADA Gains Momentum with Upcoming CIP-1694 Update - Can ADA Price Hit $1?

• The upcoming Chang hard fork and the announcement of the CIP-1694 update which will mark the transition into the final Voltaire era, have led to Cardano’s significant price surges amidst stagnant market conditions.
• The Voltaire era will introduce crucial governance and treasury management functionalities, potentially driving ADA’s price surging.

---

In the teeth of stagnant market conditions, ADA, Cardano’s native token is currently showing signs of life with the token experiencing notable price surges. Cardano, led by Charles Hoskinson has become a precedent of technological developments.

Cardano, best known for its scientific and methodical approach is on the verge of taking a major leap in its meticulously planned roadmap. 

Cardano, which is fast approaching its final stage, Voltaire, is about to partake in what the prolific writer (Voltaire) advocated. Voltaire was a stern advocate of freedom of speech among others.

This final stage sets the table for voting and treasury management functionality in the blockchain industry. This means that ADA holders have the freedom to vote on beneficial topics and features of the Cardano ecosystem.

Delving deep into the specifics of this major upgrade, as earlier reported, scheduled for late this month, Charles gave the green light saying” we are fork ready” meaning that Cardano was ready for the Chang Fork. This was before he announced that the network’s upgraded node 9.0 (which is a crucial factor for the Chang Fork) was ready to roll out. Charles Hoskinson stated in a YouTube video:

 Governance in particular, its taken about 2 years to get all the pieces of sub-1694 together, and its really an amazing thing to see that node 9.0.0 is nearly out. 

It’s worth noting that the Chang hard fork represents a crucial transition into the Voltaire era for Cardano, marking the final phase of its roadmap.

This Fork will pave the way for two major upgrades, Chang Upgrade Number One and Chang Upgrade Number Two to follow.

Chang Upgrade Number One, outlined in SIP 1694, establishes the groundwork for decentralized voting and governance actions. The second upgrade completes the on-chain governance framework, enabling delegated representative participation and treasury withdrawals.

Subsequent to the the announcement of the SIP 1694 which is expected by the end of July, Charles highlighted that all elements of the aforementioned have been finalized marking a significant step towards governance and decentralization. 

Following the news of the highly anticipated Chang fork, we examine historical patterns that have accompanied previous forks, marking the significant transition of eras within Cardano’s roadmap and whether Cardano is poised to reach the $1 mark. 

Cardano Upgrade To Usher New ATH

As the community eagerly awaited the Mary hard fork of the Shelly era, which was a turning point for Cardano,  ADA experienced a significant price surge with the token surging from around $0.30 to over $1.

Remarkably, another hard fork that made the front page was the Alonzo hard fork of the Goguen era. This particular hard fork saw Cardan’s price soaring to a new all-time high. The Cardano hard fork was met with considerable enthusiasm and drove  ADA from a low of $0.2 to a whopping all-time high of $3.10.

It is also worth noting that after the groundbreaking event, the aftermath was however brutal as it left the token struggling to regain its footing and liquidity

Just $0.6 away from $1, at the time of writing Cardano is changing hands with $0.4015 marking a substantial 21.15% price surge in the last week. The CIP-1694 upgrade and increasing Cardano adoption point to a prolonged growth trajectory for the network that could see ADA soaring to the $1 mark.

---

Recommended for you: