According to U.Today, Cardano, the tenth largest cryptocurrency by market cap, is set to record its fourth consecutive day of gains. After bouncing back from Monday's low of $0.33, ADA has been steadily increasing. If the day ends on a positive note, it will mark ADA's fourth day of gains. At the time of writing, ADA had risen by 4.02% in the last 24 hours to $0.40, outperforming the top 10 and reaching intraday highs of $0.402.

The surge in ADA's price is accompanied by an increase in the 24-hour large transaction volume, which stands at 26.35 billion ADA, up from the July 9 figure of 17.4 billion ADA. Large transactions in monetary terms amount to $10.04 billion, according to IntoTheBlock data. ADA's price rally is in line with the broader crypto market, which has seen a rise following a decrease in monthly inflation in June. This has provided a boost for the Federal Reserve to potentially lower interest rates later this year.

Expectations are also high for the upcoming Chang upgrade. Cardano has a positive track record before major upgrades, with prices generally trending upwards. The Chang upgrade will stagger the release of governance functionality, making it easier for those with new or additional roles in governance to adopt and onboard. The upgrade will be divided into two parts. Chang Upgrade 1 will deploy governance features to Cardano and begin the technical bootstrapping phase, as defined in CIP-1694. Chang Upgrade 2 will remove CIP-1694 from the technical bootstrapping step, enabling full on-chain governance functionality, such as DRep participation and governance actions.

Earlier this week, Node 9.0 was released, marking a significant step towards the activation of the Chang hard fork. Following this milestone, parameters and the final genesis file will be prepared, which is required for Node 9.01. After this, SPOs will be asked to upgrade again. Once the critical mass indicators are met, 70% SPOs and 80% exchange liquidity, Chang might be set to activate.