Cardano (ADA) Reclaims Top 10 Placement Ahead of Chang Hard Fork

08/22/2024 12:44
Cardano (ADA) Reclaims Top 10 Placement Ahead of Chang Hard Fork

Cardano has managed to return to the top 10

Cardano (ADA) Reclaims Top 10 Placement Ahead of Chang Hard Fork

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Cardano (ADA), the native cryptocurrency of the eponymous proof-of-stake network, has managed to return to the top 10. 

Over the past 24 hours, ADA has surged by more than 5%, which made it possible for the cryptocurrency to surpass Tron (TRX) by market capitalization. 

As reported by U.Today, Cardano's much-awaited Chang hard fork is expected to be launched on Aug. 27 after months of anticipation. 

In late July, the network network finally became ready for the upgrade with the release of Node 9.1, the latest version of the validator node. It took a few weeks for at least 70% of stake pool operators (SPOs) to upgrade to the latest version of the node. As stated by Cardano developer Input Output, dApps, and exchanges also appear to be ready for the Chang hard fork. 

Related

Cardano (ADA) Price Turns Bullish as Key Upgrade Date Nears: Details

"Chang is so close now. Updates continue to flood in from across the ecosystem, and we're regularly pushing changes to the hard fork readiness page," Jack Briggs, Intersect's marketing and communications director, said in a social media post. 

The first phase of the implementation of the much-anticipated hard fork will prepare the ground for bringing on-chain governance features to the Cardano network. The final features of decentralized governance will be unlocked during Chang's second phrase. 

Related

Cardano (ADA) Reaches All-Time High, But Not in Price Yet

Even though the hype surrounding Changphase has managed to push the ADA price higher, the cryptocurrency is still down 88% from its record high of $3.09 which was achieved back in September 2021. Its current peak was achieved around the release of the Alonzo hard fork, which brought smart contracts to the Cardano network. 

About the author

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Alex Dovbnya

Alex Dovbnya (aka AlexMorris) is a cryptocurrency expert, trader and journalist with extensive experience of covering everything related to the burgeoning industry — from price analysis to Blockchain disruption. Alex authored more than 1,000 stories for U.Today, CryptoComes and other fintech media outlets. He’s particularly interested in regulatory trends around the globe that are shaping the future of digital assets, can be contacted at [email protected].

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