Cardano (ADA) is hoping to hit big this bull season as the token’s Chang Hard Fork Upgrade date draws closer. The fork is set to unveil a wealth of scalability perks for the token, as well as bring in governance options for the ADA community to tinker and explore.
Once the fork is integrated into the ADA ecosystem, Cardano’s price is also expected to follow suit, trading at levels past $0.40. The crypto community is also hoping for the token to surpass the $1 price threshold, which is long overdue for the token to achieve and get over.
Also Read: Cardano: ADA To Pump At $10, Analyst Predicts
Cardano ADA May Forecast: Is $1 In Sight?
ADA’s ambitious Chang Hard Fork Upgrade is crucial for its ecosystem in many ways. Firstly, the fork will unveil governance options for the ecosystem to interact with, bringing in democratic voting mechanisms.
“Chang Upgrade Number One will deploy governance features on Cardano, initiating the technical bootstrapping phase outlined in SIP 1694. This phase sets the stage for decentralized voting, governance actions, and more.”
The upgrade will also usher in a “bootstrapping update,” introducing features related to on-chain governance.
“Chang Upgrade Number Two takes SIP 1694 out of the technical bootstrapping phase, unlocking the final features of on-chain governance, including delegated representative participation and Treasury withdrawals. This is monumental, as it empowers the community to propose and fund new projects, ensuring the sustainability and evolution of the Cardano ecosystem.”
Once the fork is deployed in Q2, 2024, the 2024 ADA price is forecast to skyrocket past usual price thresholds.
For May, CoinCodex predicts ADA to surge by 4% to trade at the $0.44 price level.
“According to our current Cardano price prediction, the price of Cardano is predicted to rise by 4.75% and reach $0.449975 by June 12, 2024. Per our technical indicators, the current sentiment is bearish, while the Fear & Greed Index is showing 57 (greed). Cardano recorded 11/30 (37%) green days with 4.18% price volatility over the last 30 days.”
Similarly, ADA may continue to climb slowly, gradually peaking at new price marks as the date of the fork becomes clear.
When Will Cardano Hit $2?
CoinCodex further adds that ADA may spike by 200% by the end of 2024 to hit $1.75.
Also Read: Analyst Predicts Timeline For Cardano’s (ADA) Bullish Price Breakout
“Cardano may be within a range of $0.395344 and $1.752494. If it reaches the upper price target, ADA could increase by 289.67% and reach $1.752494.”
At the same time, Coinpedia, another notable crypto portal, forecasts ADA to surge to $2 by the end of 2024.
“The Cardano coin price brings a buying opportunity as it may soon cross $1 and reach the $1.5 mark. Therefore, with a bull run in 2024, Cardano may rise to create a new swing high of $2.02.