- ADA is trading almost 90% lower than its September 2021 record high.
- On a Chang node-ready version, more than 74% blocks have been generated.
Cardano’s [ADA] The ongoing Chang Hard Fork is a positive development for the evolution of blockchain towards decentralized governance.
The Chang upgrade Has not had a profound impact on ADA’s pricing.
Chang upgrade нкурс
Cardano had informed in earlier communications that the Chang Hard Fork would take place in two phases: Chang #1 and Chang # 2, each with specific governance components.
The first phase which lays down the foundations of decentralized government for ADA owners was started last month.
For Chang #1, the critical threshold is 70% upgrade of all Changs. stake The pool operators are able to achieve 85% liquidity in the Chang candidate mainnet.
The term “In terms of” stake Cardano now has a pool ready status, with all SPOs having installed Node v9.1.0.
Explore the latest Explorer data shows that 74.02% of all blocks in the last 8 hours were minted by SPOs on v9.1.0 – the mainnet candidate for the hard fork.
Exchange liquidity readiness At the time of publication, lagged was at 20,16%. WhiteBIT Bitfinex BitMart and BitMart among others are six of the exchanges that have already committed to supporting Chang.
Sixteen more were working to make sure their systems are compatible to the latest versions of nodes to support Post-upgrade Transactions and operations
A second phase of Chang is anticipated to begin later in the year. However, no date or official schedule has been released.
The growth of ecosystems and network activity
Santiment Analytics, the blockchain analytics firm, released a report last week. reported Cardano was ranked 3rd in the notable development activities across 30 days until August 5th.
Cardano’s network activity is increasing, but it has not been noticeable. This can be seen in the slowdown in adding new users.
AMBCrypto’s view of IntoTheBlock data The number of Cardano address with a current ADA balance remained relatively constant at 4,45 million over the past year.
The network’s active users and transaction counts have remained relatively stable over the past three months.
IntoTheBlock reported that Cardano settles around $7.2 Billion daily in volume on the chain, translating into a NVT (Network Value Transactions) ratio of 2.62.
This low ratio of NVT indicated that ADA usage was not valued in comparison to the value it received on the network.
ADA/USDT Price Action
ADA began a downward trend in March, and dropped from $0.82 per token to $0.39 by June’s end. Losses increased after token prices fell below critical support levels of $0.32 at the beginning of this month.
Bulls tried to reclaim the $0.40 resistance level before challenging $0.45, where ADA rejected mid-July.
Click Here to Read Cardano’s [ADA] Price Prediction 2024 – 2025
As of the date this was written, ADA/USDT traded below their 100 and 200 day simple moving averages.
Price action is mixed, but not overly so. Speculators are closely watching key levels in order to gauge the direction of prices. next Price movement.
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Source: ambcrypto.com