Cardano (ADA) Token Trading Volume Increases by 30 Percent in the Last 24 Hours

This spike comes amid the anticipation of the global crypto community towards major updates on the Cardano network

Jakarta - Cardano (ADA) trading tokens experienced a spike in trading volume of up to 30 percent in the last 24 hours, reaching IDR 6.2 trillion. This upgrade comes amidst the global crypto community's great anticipation for a major update to the Cardano network that is expected to change the dynamics of the crypto market.

This update, known as Node Version 9.1.0, has reached 69 percent completion. This update will be the launching pad for Chang's hard fork, an important milestone that will introduce more advanced on-chain decision-making mechanisms to the Cardano network. Currently, the community is just waiting for a little over 70 percent of Cardano validators, or what are known as Stake Pool Operators (SPOs), to update their nodes to the latest version before the launch of the Chang hard fork.

The latest data from CoinGlass shows that ADA trading activity in daily futures trading has jumped sharply, with total turnover reaching US$408.53 million (around Rp. 6.2 trillion). Apart from that, ADA spot trading volume also recorded an increase of 5.54 percent, reaching 337.77 million US dollars (around IDR 5.1 trillion). Overall, Cardano's total turnover across all markets reached around US$1 billion (around IDR 15.3 trillion).

Also read:

Interest Continues to Increase Ahead of Cardano's Chang Hard Fork

Many market players and investors are awaiting the impact of this update on ADA's performance in global markets. Chang's hard fork is part of Cardano's transition to the Voltaire era, which will introduce more decentralized on-chain governance and allow ADA holders and stake pool operators to participate in decision-making through an on-chain voting mechanism.

Node 9.1.0, as the latest version of the Cardano validator software, includes the Conway genetic files required to bypass the Chang hard fork. Additionally, this update also fixes several bugs and improves network stability. By reaching the threshold of 70 percent of validators upgrading their nodes, the launch of the Chang hard fork is imminent, bringing significant changes to the governance and operations of the Cardano network.

This English, Chinese, Japanese, Arabic and French version was generated automatically by AI. So, there may still be inaccuracies in the translation, please always refer to the Indonesian version as the main reference. (technology supported by DigitalSiber.id)

Tag: cardano crypto asset technology

The above is the detailed content of Cardano (ADA) Token Trading Volume Increases by 30 Percent in the Last 24 Hours. For more information, please follow other related articles on the PHP Chinese website!