Cardano ADA Rises in Volume As Fork Upgrade Reaches 69% Milestone

Cardano ADA has been rising in trading volume over the past 24 hours, as the Cardano team reached the 69% completion mark in the Chang Hard Fork upgrade. The Node Version 9.1.0 upgrade, which is now at 69% completion, is a big milestone for Cardano that will improve its on-chain decision-making capabilities.

The completion and launch of the Chang Hard Fork upgrade is expected not just to improve Cardano, but also to bolster its price. Once 70% of Cardano’s validators, or Stake Pool Operators (SPOs), have updated to the new node, the Chang hard fork will move forward with the launch. Additionally, data from CoinGlass shows a 30% increase in ADA perpetual futures trading volume over the past 24 hours. The volume reached a total turnover of $408.53 million.

Furthermore, the spot market trading volume for ADA has gone up by 5.54%, reaching $337.77 million. The total turnover for the Cardano token across all markets to approximately $1 billion. At press time, ADA is up to 0.3405, a 5% increase in 24 hours. This is a solid jump considering the recent market downturn that impacted all crypto negatively, including ADA.

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Cardano ADA to Boom Following Chang Hard Fork Completion?

Cardano’s ADA has reported a sluggish price approach over the past six months, unable to break past the critical price juncture of $0.50. The Chang update is set to bring new community participation facilities on Cardano, helping users access elements such as a Treasury and voting ordeals. Once it launches, perhaps Cardano can surge beyond its current price towards the $0.50 threshold and beyond. The overall rebound of the crypto market may also pump ADA further up upon completion of the Hard Fork upgrade.

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A precise timetable for the Chang upgrade is still unknown. However, it is expected to be one of the most important updates yet for Cardano and its users.