Cardano (ADA) enthusiasts are buzzing with excitement as the Chang hard fork draws near. The native token of the Cardano ecosystem has seen a remarkable surge of over 52% in key metrics, adding fuel to the anticipation. Intersect, a vital organization within the Cardano community, recently took to X (formerly Twitter) on August 20 to provide detailed updates on the upcoming Chang hard fork.
Intersect has revealed crucial dates for the Chang hard fork launch, indicating that preparations are nearly complete. The Chang hard fork group convened for a meeting to assess the project’s progress and gather feedback from the community. The proposed target date for “the Chang #1 hard fork” is set for Tuesday, August 27, with a final decision scheduled for Friday, August 23. The official date is contingent upon the readiness of essential components, which have shown steady progress in recent weeks.
Ready for the Upgrade
Intersect confirmed that key components and tooling essential for the Chang hard fork are in place. The Stake Pool Operator (SPO), exchange liquidity, and DApps updates are all set and have surpassed expectations. The formal process for initiating the hard fork will commence four days prior to address all governance actions and approvals. In the event of a date change, September 3, 2024, has been earmarked as the next suitable window for the upgrade.
On August 21, ADA experienced a surge in overall trading volume, jumping over 54% and signaling increased trading activity and investor interest. This unexpected spike in volume could signify a shift in Cardano’s price dynamics, potentially indicating the end of its consolidation phase. Despite a previous 54% rise in volume, current trading volume stands at a substantial $428.88 million, with open interest on the rise as well. These positive metrics, coupled with the impending Chang upgrade, have likely contributed to Cardano’s recent price surge in the past 24 hours.
As Cardano gears up for the Chang hard fork, excitement and anticipation are at an all-time high within the community. With key dates announced and preparations nearing completion, the path to the hard fork launch looks promising. The surge in ADA’s key metrics and trading volume, along with positive market reactions, indicate a potentially bullish outlook for Cardano in the days to come. The stage is set for Cardano to make significant strides in the cryptocurrency landscape, and all eyes are on the road to Chang.
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