#Cardano enthusiasts are eagerly awaiting the upcoming Chang hard fork, which is expected to be completed by the end of July. This update marks a significant step forward in $ADA 's journey towards decentralized governance, aimed at giving its community unprecedented control over the blockchain ecosystem.
Named after early governance pioneer Phil Chang, this hard fork marks a second major transition, moving from an administrative model dominated by global input and output (IOG) to a more decentralized one where #ADA token holders are directly involved in decision making .
(adsbygoogle = window.adsbygoogle || []).push({});
The Chang update promises to usher in the #CardanoGPT Voltaire era, where community management becomes the cornerstone of its operating system. This shift is expected to increase engagement among ADA holders, allowing them to delegate tokens and directly contribute to network development and decision-making processes.
Charles Hoskinson, founder of Cardano, hailed the Chang hard fork as the most significant milestone in blockchain history. He envisions a future in which Cardano evolves into a globally decentralized civilization, attracting millions of people around the world under community governance.
Historically, Cardano hard forks have caused significant price rallies. In 2021, the Alonzo hard fork, which introduced smart contracts to the platform, took ADA from $1.35 to a peak of $3.10 during the month leading up to the fork. This surge reflected the market's anticipation and optimism for significant technological upgrades in the ecosystem.
As Cardano prepares for the Chang hard fork, market sentiment is once again bullish. The historical precedent set by previous updates suggests that ADA may experience significant price fluctuations before and after Chang's implementation.
Cardano/USD 1-day price chart, Source: Trading Review
Currently, Cardano is trading at around $0.37, and investors and analysts are keeping a close eye on price movements. A 1-day RSI (relative strength index) of 44.83 indicates a balanced market, neither bullish nor bearish. However, a 1-day #MACD that is running below the signal line indicates a potential short-term bearish outlook.
Traders are keeping a close eye on whether ADA can match or even surpass its 2021 performance with the help of the Chang hard fork. Based on historical trends, some are predicting that #ADA/USDT could experience an upward trajectory and could even break the $1 mark in the near future.
