- Cardano won’t be getting its Chang upgrade In August,
- ADA reacted positively despite the delays in the network
Cardano The news is out today about the major setback it experienced with its much-anticipated upgrade. Hard fork has been delayed. As anticipation grew amongst investors and members of the community, ADA charted an upward trend.
The attention now turns to the reaction of ADA to this new development.
Cardano has a brand new look upgrade The date is a good way to start.
Previously, AMBCrypto reported that the Cardano Chang hard fork It was tentatively scheduled to occur on the 27th of August. The hard fork has been moved to September.
Cardano CEO Charles Hoskinson announced this delay in a post on X (formerly Twitter), on 23 August. Hoskinson said that the delay was due to major exchanges such as Binance not being ready to support the fork. His post stated that the next The hard fork window is available from now onwards, namely 01 September.
Cardano Chang is an important tool. upgrade This marks the transition of the network into Voltaire’s era which is centered on decentralized governance. This hard fork is introducing on-chain mechanisms of governance. Holders of ADA will have a direct say in the future direction and development.
The decentralized nature of the Cardano network is strengthened by this development. This also increases community involvement in the decision-making process.
What ADA did in the buildup to the Hard Fork
Expectations around the Cardano Chang’s hard fork has led to the altcoin increasing by 13% over the past few weeks. The trend may continue if market participants perceive the implementation to be a success for the network.
ADA price has not seen any reaction to the postponement of the hard-fork announcement. AMBCrypto analyzed its daily chart and found that the price of ADA had increased at the close of trade on Wednesday, 23 August. ADA, in fact, gained 3.98% on its charts and was traded around $0.39.
ADA’s Relative Strength Index had a reading around 60. This indicates a positive trend. As with any large network, there are some limitations. upgradeIt is possible that the market will experience short-term volatility while it adapts to its new governance structure and overcomes any technical obstacles which may occur during implementation.
Cardano is still in the top 10
In recent days, Cardano The number ten position in cryptocurrency has seen a tight competition between (ADA) and Tron (TRX). market capitalization rankings. The difference in market value between the two assets is just millions. This makes it a close race to see who will be ranked higher.
– Is your portfolio green? Look at the Cardano Profit Calculator
Cardano Chang Hard Fork could give ADA the push it needs to regain ADA’s tenth place. It is exciting to see the anticipation surrounding this network. upgrade This may increase investor activity and interest.
This move may help ADA regain its top ten ranking and increase the market cap of the company.
“This article is not financial advice.”
“Always do your own research before making any type of investment.”
“ItsDailyCrypto is not responsible for any activities you perform outside ItsDailyCrypto.”
Source: ambcrypto.com