The Cardano (ADA) community is abuzz with excitement as the Chang hard fork, a highly anticipated upgrade, is set to launch soon. Intersect, a member-based organization for the Cardano ecosystem, recently provided comprehensive details and updates on the upcoming Chang hard fork. The organization revealed that preparations for the upgrade are nearly complete, with key dates for the launch already set.
Intersect announced that the target date for the first installment of the Chang hard fork, known as “Chang #1,” is scheduled for Tuesday, August 27. However, the final decision on proceeding with this date will be made on Friday, August 23. The Chang hard fork group has reviewed the project’s desired thresholds and received feedback from the Cardano community, leading to the proposal of these dates.
The Chang hard fork group has verified that key components and tooling for the upgrade, such as Stake Pool Operator (SPO) readiness, exchange liquidity, and updates from Decentralized Applications (DApps), are all set. The team has confirmed that these components have exceeded expectations, signaling a positive outlook for the upcoming hard fork.
Next Steps and Potential Changes
In preparation for the Chang hard fork launch, a pre-production hard fork is scheduled for August 22. If there are any changes to the set dates, the next suitable window for the upgrade would be on September 3, 2024. However, all indications currently point towards August 27 as the most viable date for the launch.
Surge in Trading Volume
On August 21, Cardano’s native token, ADA, experienced a significant increase in trading volume, jumping over 54% according to Coinglass. This surge in trading activity highlights growing interest from investors and could potentially signal a shift in Cardano’s price dynamics. Despite previous months of consolidation, the cryptocurrency’s rising volume indicates a possible end to its price stagnation.
ADA’s current trading volume is up by 36.21%, reaching approximately $428.88 million. Additionally, the cryptocurrency’s open interest has seen a slight upward momentum, increasing by 4.66%. These positive changes, coupled with the upcoming Chang upgrade, are likely contributing to Cardano’s recent price increase over the last 24 hours.
The Cardano community is eagerly anticipating the Chang hard fork and the potential positive impact it could have on ADA’s price dynamics. With preparations nearing completion and key dates set, all eyes are on August 27 as the possible launch date for this highly anticipated upgrade.
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