The Cardano (ADA) community is buzzing with excitement as the anticipated Chang hard fork approaches its launch date. There has been a surge of over 52% in ADA, the native token of the Cardano ecosystem, leading up to this significant event. Intersect, a member-based organization for the Cardano community, has been actively sharing updates and key details about the upcoming Chang hard fork on X (formerly Twitter) on August 20.
Intersect has revealed crucial dates for the Chang upgrade, indicating that most preparations have been completed. The Chang hard fork group recently held a meeting to review the project’s progress and gather feedback from the Cardano community. The proposed target date for “the Chang #1 hard fork” is set for Tuesday, August 27, with a final decision on the date planned for Friday, August 23. This decision is based on the readiness of essential metrics, which have shown consistent progress in recent weeks.
The Chang hard fork group has confirmed the readiness of key components and tools for the upgrade, including Stake Pool Operators (SPO), exchange liquidity, and updates from Decentralized Applications (DApps). All components have surpassed expectations, paving the way for a smooth transition to the new upgrade. The formal process for initiating the hard fork will commence with a four-day lead time to complete all necessary governance actions and approvals.
On August 21, Cardano’s native token, ADA, experienced a significant increase in trading volume, jumping over 54% according to Coinglass. This surge in trading activity reflects a growing interest from investors and could potentially signal a change in Cardano’s price dynamics. Despite months of consolidation, the rise in volume suggests a possible end to ADA’s price stagnation.
ADA’s current trading volume is up by 36.21%, reaching around $428.88 million. Additionally, ADA’s open interest has seen a slight increase of 4.66%. These positive changes, combined with the upcoming Chang upgrade, are likely contributing to the recent price surge in Cardano over the past 24 hours.
The Cardano community is eagerly awaiting the Chang hard fork launch, which promises to bring significant improvements and updates to the ecosystem. The surge in ADA’s trading volume and positive changes in key metrics indicate a growing interest and confidence in Cardano’s future. With the launch date drawing near, all eyes are on August 27 as the potential day for Cardano’s next major milestone.
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