Cardano (ADA) has been in the headlines for a lot of reasons. While the asset has been struggling to stay in the coveted top 10, the network has been prepping for the upcoming hard fork. Sadly, ADA failed to maintain its place in the top 10 and is currently positioned as the 11th largest cryptocurrency. The meme coin was overtaken by Justin Sun’s Tron (TRX) whose market cap stands at $14 billion. Cardano is currently valued at $12.68 billion.
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With the first phase of the Chang hard fork expected to go live on the mainnet on August 27, the community has high expectations for the price of the altcoin. Currently, ADA is priced at $0.3527 with a daily uptick of nearly 2%. The community has been looking forward to the asset to reclaim $1 if not its all-time high of $3.10.
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Can ADA Hit $1 In September 2024?
It looks like the $1 mark will remain a dream for Cardano investors. According to data from Changelly, ADA will reach a maximum price of only $0.390 in the coming month. The firm revealed that the altcoin will dip to a low of $0.327. In addition, Cardano will trade at an average price of $0.359 throughout the month.
The upcoming hard fork, however, could bring in a bullish spike in the ADA market. Community-driven governance is expected to be introduced with the Chang upgrade, beginning with an interim network constitution and a Constitutional Committee. Elaborating on this upgrade, Cardano’s Charles Hoskinson further said,
“Cardano is 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.”
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