- ADA’s price has remained at $0.3
- In the last few months, there has been no change in the number of holders.
Cardano [ADA] Hard forks are approaching, an event which often draws attention to blockchain networks as new upgrades and features are introduced.
The steady numbers of ADA owners suggest that the excitement and anticipation around ADA has not increased significantly.
Cardano prepares for Chang upgrade
Coming soon Chang Hard Fork The following are some examples of how to use CardanoAs reported by IntoTheBlockIt is drawing attention due to its promise of significant network changes.
Previous hard forks have caused ADA to react in the past. It is possible that similar reactions will occur this time.
Community-driven governance has been introduced as one of the key developments in the Chang Hard Fork. This change aims at decentralizing decision-making, allowing ADA owners to have a more direct role in the network’s governance.
This is a way to increase democratic participation within an ecosystem. It is in stark contrast with existing centralized governance.
The hard fork event will launch a Constitution Convention. It is an important step towards formalizing governance and operating principles for the network.
The convention is a gathering of various stakeholder groups to create a Cardano constitution. The convention will produce a fundamental document outlining the rights of participants.
After the draft phase is complete, the Cardano Constitution proposal will be presented for the community to vote.
Cardano is still fighting
This price analysis shows the trend of prices for Cardano The (ADA) showed a difficult year, with a downward trend that was noticeable. The price chart shows that ADA’s decline has been significant, with a drop of 41%.
It was recently trading around $0.36 and had dropped by over 1%. Notably, ADA’s price dropped by over 11 percent in one week on the 4th July.
There is still a chance for a recovery despite this downward overall trend. The current Relative Strength Index, which is below 40, supports this possibility.
RSI values below this threshold typically indicate that an asset has been oversold. ADA Market sentiment could shift from pessimistic and overly optimistic to more balanced.
Holders stay steady
Analysis of the total number of holders in the Cardano In recent months, the network trend has been stable.
As at this moment, there are approximately 4,48 million wallets that contain one ADA. Since the start of the month, this figure has been fairly constant.
Data from the past three months confirms this trend. It shows that there were around 4,47 million holders in that time period.
You can read more about it here Cardano (ADA) Price Prediction 2024-25
Cardano’s community size is relatively stable despite ADA prices fluctuating.
This may indicate that a large number of holders are long-term and not easily influenced by market fluctuations.
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Source: ambcrypto.com