Cardano (ADA) To Spike $5.50 After Chang Fork Update? This Analyst Think So

Juhi Mirza
Cardano ADA
Source – NewsBTC

The Cardano ecosystem is undergoing massive changes as the token gears up to welcome the widely anticipated Chang Hard Fork Upgrade. The Chang Hard Fork update is set to usher in a new era for ADA users, bringing essentials like governance to the system for users to work with.

Regarding the upcoming Chang Fork Upgrade, ADA founder Charles Hoskinson shared key details, adding that the ADA chain is now 70% ready to embrace the newest fork development. But how will the fork deployment impact the future price of ADA? Let’s find out.

Also Read: Can Flourishing ADA Partnerships Help Cardano Surge To $0.75- $1?

Hoskinson Shares Views on Governance for ADA

Charles Hoskinson, the founder of Cardano, has shared a new update on the upcoming Chang Hard Fork Upgrade on ADA. Hoskinson shared that June is the month when Cardano’s node will reach 9.0. Per the ADA chief, this development would entail that the chain is 70% ready to embrace the new node, after which the fork will be deployed to push Cardano into the Voltaire era.

“It looks like June will be the month that Cardano Node will reach 9.0. This means that Cardano is Chang fork-ready and waiting for 70 percent of the SPOs to install the new node. Then, a hard fork can occur, pushing Cardano into the Age of Voltaire.”

Later, the ADA chief went forward to explain the importance of the Chang Hard Fork Upgrade. The update will bring in the governance functionalities on Cardano, bringing in features like governance, budgets, and treasury for an open ecosystem alignment and movement.

“It’s the most significant milestone in the history of Cardano and for the industry as a whole. Cardano will be a decentralized civilization spanning the entire world with millions of residents. We’ll have the most advanced blockchain governance system, annual budgets, a treasury, and the wisdom of our entire community to guide us.”

With Chang Hard Fork deployment news in sight, the ADA community is anticipating notable price changes to be documented in the ADA ecosystem. While some anticipate Cardano’s peak at $1, others predict an extensive range of price paths for Cardano to breach very soon.

Analyst Predicts $5.50 Price Threshold for Cardano Post Chang Fork Update

Notable crypto analyst Chris O has shared a new price prediction for ADA after the Chang Hard Fork deployment. Per Chris, ADA can easily breach the $5.50 threshold, provided it soon gains consistent leverage from staunch ADA loyalists.

“My short-term $ADA price prediction (just for fun, NFA) By Chang HFE #1: $1.25. By Chang HFE #2: $5.50. Feel pretty confident in this.”

Another crypto analyst, Lucid, took to X to share another prediction for ADA. The expert went a mile ahead to predict that ADA’s price would peak at $10 post-fork deployment, sending bullish shivers of change across the ADA community.

“Cardano has a 1.5B $ADA Treasury!🏆With Chang coming to Cardano on July 17th, 2024, everyone must learn about SanchoNet and Intersect! These are our tools for governance on Cardano and how we use the billion-dollar ADA Treasury! 🏋️‍♂️Marketing 🔥.Scaling 🔥. $10 $ADA 🥇”