Cardano

Foundation

Captain

Shiba Inu

Cardano price surged today, fueled by excitement surrounding the upcoming Chang Hard Fork, a significant upgrade to the Cardano blockchain. The upgrade, expected to finalize soon, has prompted bullish predictions from crypto analysts, suggesting ADA might hit $0.7 in the near future. 
Notably, this optimistic outlook is further supported by Cardano’s efforts to enhance its governance structure and decentralization. 
<h2 id="cardano-price-eyes-0-7-breakout">Cardano Price Eyes $0.7 Breakout</h2> 
Cardano price has seen a notable increase amid growing anticipation for the <a href="https://coingape.com/cardano-chang-hard-fork-completion-june-says-founder-charles-hoskinson/" target="_blank" rel="noopener">Chang Hard Fork</a>, a pivotal update expected to enhance the Cardano blockchain’s functionality. Prominent crypto market analyst Captain Faibik has shared a positive outlook on ADA’s price trajectory. 
Faibik pointed out a falling wedge formation on Cardano’s daily chart, a pattern typically associated with bullish trends. In a recent X post, he has shared a price chart of Cardano and stated: 
<blockquote>
 ADA Falling Wedge formation on the daily timeframe Chart! Expecting Breakout soon, So Keep an eye on it.
</blockquote> 
Meanwhile, the chart indicates that ADA could rally to $0.7 in the coming days, aligning with the optimistic sentiment surrounding the Chang hard fork. Historically, such technical patterns have preceded significant price movements in <a href="https://coingape.com/cardano-ada-goes-interchain-with-ibc-sidechain/" target="_blank" rel="noopener">Cardano</a>, making this forecast particularly compelling. 
<figure style="width: 100%" class="wp-caption aligncenter">
 <img decoding="async" src="https://pbs.twimg.com/media/GROWRwlbAAAAfdP?format=jpg&amp;name=4096x4096" alt="Cardano price chart" width="755" height="363">
 <figcaption class="wp-caption-text">
 Source: Captain Faibik, X
 </figcaption>
</figure> 
Besides the anticipation of the upgrade has energized the broader crypto market, creating a favorable environment for ADA’s potential breakout. The Chang Hard Fork, set to be finalized this month, promises to bring substantial improvements to Cardano’s infrastructure. 
According to Cardano founder <a href="https://coingape.com/cardano-ada-shoots-9-as-charles-hoskinson-unveils-world-mobile-partnership/" target="_blank" rel="noopener">Charles Hoskinson</a>, the upgrade aims to decentralize Cardano further, enhancing its governance model and boosting its market appeal. The Cardano Foundation has also emphasized the importance of this upgrade, underscoring its role in advancing the network’s governance and overall ecosystem integrity. 
Also Read: <a href="https://coingape.com/us-sec-delays-spot-ethereum-etf-launch-sends-back-s-1-forms/" target="_blank" rel="noopener">US SEC Delays Spot Ethereum ETF Launch, Sends Back S-1 Forms</a> 
<h2 id="chang-upgrade-to-boost-decentralization-and-governance">Chang Upgrade to Boost Decentralization and Governance</h2> 
The Chang Hard Fork represents a major milestone for Cardano, aiming to establish a more decentralized governance framework. In an announcement on June 27, the <a href="https://coingape.com/cardano-shifts-governance-to-icc-and-reveals-readiness-for-chang-hard-fork/" target="_blank" rel="noopener">Cardano Foundation</a> outlined its new governance role, detailing its participation in the Interim Constitutional Committee (ICC) and its involvement in the ICC election. 
Notably, this initiative is designed to ensure robust, transparent governance for the Cardano ecosystem, setting the stage for its long-term success. The proposed governance model includes several action types like parameter changes, hard fork initiations, and informational actions. 
Meanwhile, this model aims to balance inclusivity and diversity while offering effective checks and balances through <a href="https://coingape.com/cardano-founder-charles-hoskinson-reveals-next-steps-for-ada-governance/" target="_blank" rel="noopener">DReps</a>, SPOs, and others. As part of this governance overhaul, the Cardano Foundation will serve as a member of the ICC, helping to manage protocol changes and collaborate with SPOs on hard forks. 
As of writing, <a href="https://coingape.com/price/cardano/" target="_blank" rel="noopener">Cardano price</a> soared 1.85% to trade at $0.3955, with its one-day trading volume rising 25% to $328.63 million. Notably, the crypto has touched a high of $0.402 in the last 24 hours, while CoinGlass data shows that ADA Futures Open Interest jumped around 4% to $220.38 million. 
Also Read: <a href="https://coingape.com/shiba-inu-burn-rate-rockets-1100-shibs-climb-to-0-00002-imminent/" target="_blank" rel="noopener">Shiba Inu Burn Rate Rockets 1100%, SHIB’s Climb To $0.00002 Imminent?</a> 
The post <a href="https://coingape.com/cardano-price-ada-nears-breakout-for-0-7-ahead-chang-upgrade/">Cardano Price: ADA Nears Breakout For $0.7 Ahead Chang Upgrade</a> appeared first on <a href="https://coingape.com">CoinGape</a>.

Cardano Price: ADA Nears Breakout For $0.7 Ahead Chang Upgrade

Table of Contents

Coingape News Media

Другие статьи, опубликованные 29 июн. 2024 г.

Nasdaq Implements AI to Streamline Board Functions

Huge Token Unlocks in July – One Token’s Supply Will Increase by 42 Percent – Here’s the Full List

Who is afraid of crypto derivatives? | Opinion

Shiba Inu’s Undervaluation Signals Potential for Major Price Rally

VeChain’s VeBetterDAO Token Now Available on Major Exchanges

Phishing Scams Target TON Users

Join our free newsletter for daily crypto updates!