Cardano has always been one of the most significant cryptocurrencies existing in the space. Boasting a truly decentralized structure unfazed by scathing DDOS attacks, many highly revered the chain. However, ADA is yet to project significant price recovery action, compelling its holders to ask whether it’s profitable to hold ADA.
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Node 9.0.0 Installed, Cardano Ready To Embrace Chang Hard Fork
The Installation of node 9.0.0 has been dubbed as a significant milestone for ADA. The achievement has inched Cardano closer to embedding the highly anticipated Chang Hard Fork.
The fork, which is scheduled to go live soon, comes with a plethora of new functionalities for users and the chain to interact and explore. For instance, post-the-fork deployment, Cardano will be able to deliver governance-centric features to its users. This entails ADA having its treasury, a system where the community can vote on crucial ADA matters of its Ecosystem.
The fork deployment will bring in features like an introduction to Dreps, the Cardano constitution convention, voting system to tempt new-age users.
“The Chang hard fork is scheduled for Q1, 2024 through Q2, 2024 and will introduce the concept of minimum-viable community-run governance to the Cardano blockchain by instituting the capabilities for on-chain community consensus, governed by a constitution. This means that all Cardano stakeholders (ADA holders) will be able to participate in shaping the direction of the network.”
Commenting on the completion of Node 9.0.0, Charles Hoskinson took to X to share his enthusiasm about ADA’s upcoming upgrade
Cardano ADA July Forecast
The Chang Hard Fork deployment will trigger serious changes in ADA’s price path. However, the technical platforms for now have predicted paths for ADA based on its current price markers.
According to CoinCodex, Cardano may undergo a significant price uptick before it picks up its pace further down the line.
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The token may note a slight price uptick of 9% by the end of July 2024 to trade at the $0.41 price mark.
“The price of Cardano may rise by 9.41% and reach $ 0.412942 by August 9, 2024. Per our technical indicators, the current sentiment is Bearish while the Fear & Greed Index is showing 28 (Fear). Cardano recorded 14/30 (47%) green days with 5.85% price volatility over the last 30 days.”
The token however may shed 5% of its value back this week to trade at a low price threshold of $0.35.