New update on Cardano (ADA): reminiscent of the old days

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According to the latest post on Dan Gambardello's X platform, the Chang hardfork of Cardano (ADA) on September 1 promises a change in blockchain governance.

This upgrade has sparked a debate on whether ADA price will experience a bull run like in the old days. With over 600 million dollars worth of ADA, it will be completely community controlled. As the value of the altcoin increases, this figure could soar to 5 billion dollars or even 10 billion dollars, signaling a new era of decentralization.

🚨 CARDANO UPDATE! And I hope the VCs and institutions read this one…

The Cardano Chang hard fork is set for September 1st and isn’t just another upgrade; it’s an actual turning point in crypto history.

Please understand that over $600 million will be entirely in the hands of…

— Dan Gambardello (@cryptorecruitr) August 29, 2024

Cardano (ADA) hardfork gives hope

The Chang hardfork represents not only a technical upgrade but also a change in the management of Cardano. This development could position the Cardano ecosystem as a community-focused leading blockchain by attracting more developers, users, and investors.

Looking beyond the effects of the hard fork, Cardano's current market performance shows positive trends. The price of ADA is $0.358, with a 24-hour trading volume of $246,618,162. It has increased by 2.25% in the last 24 hours, with a market capitalization of $12.88 billion. The circulating supply is 35,960,643,044 ADA, and the maximum supply is 45 billion ADA.

The derivatives market is painting a mixed picture for Cardano. The trading volume dropped 39.23% to $275.93 million, reflecting increasing cautious trading. Meanwhile, open interest increased 1.34% to $182.38 million, indicating larger positions being held despite less trading.

This article does not contain any investment advice or recommendations. Every investment and trading movement involves risk, and readers should conduct their own research when making a decision.

ADA-6.8%
G-2.97%
X-3.12%
BLOK-2.73%
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