The Cardano (ADA) community is buzzing with excitement as the Chang hard fork approaches. Intersect, a member-based organization for the Cardano ecosystem, recently provided detailed updates about the upcoming upgrade. According to Intersect, the majority of preparations for the Chang hard fork are already finalized. The organization has set a target date for “the Chang #1 hard fork” on Tuesday, August 27, pending a final decision on Friday, August 23.
The Chang hard fork group has confirmed that key components and tooling for the upgrade are ready. This includes Stake Pool Operator (SPO) readiness, exchange liquidity, and updates from Decentralized Applications (DApps). Intersect has outlined a formal process for initiating the hard fork, which will include a four-day lead time to conclude all necessary governance actions and approvals. If the August 27 date is not feasible, the next potential window for the upgrade would be on September 3, 2024.
In anticipation of the Chang hard fork, Cardano’s native token ADA has witnessed a significant increase in trading volume. Coinglass reports that the cryptocurrency’s trading volume jumped over 54%, indicating growing interest from investors. This surge in volume could be a signal of a shift in Cardano’s price dynamics, potentially ending the prolonged price consolidation phase experienced in recent months.
Despite previous volume spikes, ADA’s current trading volume is up by 36.21%, reaching around $428.88 million. The cryptocurrency’s open interest has also seen a slight increase of 4.66%. These positive changes in ADA’s metrics, along with the upcoming Chang upgrade, may be contributing to the recent price surge observed over the last 24 hours.
The Cardano community is eagerly awaiting the Chang hard fork, with preparations well underway and key dates set for the upgrade. The surge in ADA’s trading volume and positive changes in its key metrics indicate growing interest and potential price movements in the cryptocurrency market. As the Chang hard fork launch date approaches, all eyes will be on Cardano to see how this important upgrade will impact its ecosystem and market value.
