As the Cardano (ADA) community awaits the upcoming hard fork, the price of ADA was seen slipping. The altcoin has struggled to retain itself in the top 10. Cardano is currently the 11th largest cryptocurrency with a market cap of $13.36 billion. Tron (TRX) and Toncoin (TON) have taken over this asset. Amidst this, the price of the network’s native cryptocurrency was seen tumbling down by 2.40% over the past 24 hours. At press time, the asset was trading at $0.3719, a daily low for ADA.
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It looks like the cryptocurrency with carry forward its current notion throughout the week. According to data from Changelly, ADA will encounter slight drops in the coming days and dip to $0.360933. But things will take a different turn during the weekend as the altcoin will descend to a low of $0.355540. Cardano will end the month of August on a bitter note. The community has to place their bets on September 2024.
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Can The Chang Hard Fork Be A Game Changer For Cardano?
Cardano is anticipating the Chang hard fork on September 1. The blockchain is awaiting the advent of a new era of decentralized government as part of this event. The upcoming changeover will be governed by the Treasury community. Furthermore, the size of this community is projected to be 1.5 billion ADA or nearly $900 million at the current time.
Furthermore, with this update, the network enters a new period known as Voltaire. Holders of ADA will have a direct influence on the decision-making processes that will shape its future. While the hard fork is yet to occur, the community hopes that this could boost the price of the cryptocurrency.
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