The latest data shows that 63% of stake pool operators (SPOs) have now upgraded to Node 9.1.0.
The hard fork will kick off the Voltaire era that specifically focuses on decentralized governance.
During the first part of the hard fork's implementation, Intersect, a member-based organization for the Cardano ecosystem, will release an interim version of the Cardano constitution. An interim Constitutional Committee (CC) will be responsible for upholding the Constitution. The interim committee will initially have seven members, with three seats being represented by the Cardano community.
At that point, the Cardano community is supposed to be fully responsible for the blockchain's future development.
A new bullish catalyst?
However, the token could experience a substantial rally following the much-anticipated upgrade that appears to be imminent. For the much-awaited hard fork to be activated, at least 70% of SPOs have to adopt the latest version of the node.
The ADA token remains outside of the top 10 with a valuation of roughly $11.5 billion.