Cardano (ADA) Primed for Another Explosive Rally as Chang Hard Fork Nears, Mimicking 2021 Alonzo Fork
- WBOYOriginal
- 2024-07-15 11:05:40325browse
The community is abuzz with anticipation over the forthcoming Chang hard fork, scheduled for the second quarter of 2024.
Anticipation is palpable within the community as we approach the Chang hard fork, slated to take place in Q2 of 2024. This upgrade marks a pivotal step in Cardano's journey toward decentralized governance, ushering in the start of minimum-viable community-run governance in the blockchain ecosystem.
As Chang draws closer, the historical performance suggests a potential huge rally in the price of ADA.
Cardano's Chang fork is approaching quickly. As the final hard fork in Cardano's roadmap toward decentralized governance, Chang is set to usher in an era where Cardano is fully run by community members and not actively managed by Cardano development company Input Output Global (IOG).
Instead, this new era of Cardano governance will empower holders to delegate their ADA tokens to boost greater engagement and participation in the governance of the blockchain protocol.
According to Cardano creator Charles Hoskinson, Chang is the “most significant milestone in the history of Cardano,” which will ultimately enable the blockchain network to facilitate a “decentralized civilization spanning the entire world with millions of residents.”
2021 saw the Hard Fork that brought Dapps and Smart Contracts to Cardano
In 2021, one of the most highly-anticipated events in the crypto industry was the Cardano Alonzo Hard Fork, which finally brought the excitement of decentralized applications (dapps) and smart contracts to the ecosystem.
This anticipation drove the ADA price to its current lifetime high of $3.09. According to data from IntoTheBlock, the Cardano price rallied from a low of $1.35 to over $3.10 in the month leading up to the hard fork.
By the time the Alonzo Hard Fork was completed in September 2021, the ADA price had already rallied by over 130%.
Cardano preparing for Chang Hard Fork, set to happen by the end of July. Before its previous hard fork in 2021, it's worth noting that $ADA surged 130%, from a low of $1.35 to over $3.10 in just a month.
This spectacular performance has raised hopes that the impending Chang milestone could spark a meteoric price rally for ADA. If it plays out similarly to the 2021 hard fork, expectations are already high that Chang could propel the ADA price to the coveted $1 price tag.
However, it is important to note that the ADA token has seen a decline in its performance in 2024, with the token dropping out of the top 10 coins by market capitalization in early April to make way for the Telegram-linked cryptocurrency Toncoin (TON).
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