Ethereum

Cardano

Bitcoin

Green

TL;DR
<ul>
 <li>ADA’s valuation has increased by 4%, trading around $0.35, following the announcement of the upcoming Chang Hard Fork upgrade.</li>
 <li>Despite the recent uptrend, the majority of ADA holders remain at a loss, with only 22% currently in profit, reflecting the challenges the cryptocurrency has faced recently.</li>
</ul>
<h2 id="span-data-preserver-spaces-true-a-href-https-cryptopotato-com-wp-content-uploads-2024-08-ada_cb-6-jpg-data-wpel-link-internal-rel-noopener-noreferrer-nofollow-a-span"><a href="https://cryptopotato.com/wp-content/uploads/2024/08/ADA_CB-6.jpg" data-wpel-link="internal" rel="noopener noreferrer nofollow"></a></h2>
<h2 id="ada-flashes-green">ADA Flashes Green</h2>
The cryptocurrency market headed south in the past several hours, erasing much of the gains recorded on August 20. Bitcoin (BTC), for instance, <a class="editor-rtfLink" href="https://cryptopotato.com/bitcoin-nukes-2k-in-minutes-as-crypto-markets-withdraw/" target="_blank" rel="noopener noreferrer nofollow" data-wpel-link="internal">dropped</a> below $60,000, while Ethereum (ETH) plunged under $2,600.
However, not all leading cryptocurrencies are in the red, with Cardano’s ADA being among the few that have charted some increases. The token’s price is up 4% on a daily scale, currently trading at around $0.35 (per CoinGecko’s data).
<figure id="attachment_355024" aria-describedby="caption-attachment-355024" style="width: 100%" class="wp-caption aligncenter"><a href="https://cryptopotato.com/wp-content/uploads/2024/08/ADA-Price-1.png" data-wpel-link="internal" rel="noopener noreferrer nofollow"><img class="wp-image-355024" src="https://cryptopotato.com/wp-content/uploads/2024/08/ADA-Price-1.png" alt="ADA Price" width="582" height="400" srcset="https://cryptopotato.com/wp-content/uploads/2024/08/ADA-Price-1.png 1038w, https://cryptopotato.com/wp-content/uploads/2024/08/ADA-Price-1-300x206.png 300w, https://cryptopotato.com/wp-content/uploads/2024/08/ADA-Price-1-1024x703.png 1024w, https://cryptopotato.com/wp-content/uploads/2024/08/ADA-Price-1-768x528.png 768w, https://cryptopotato.com/wp-content/uploads/2024/08/ADA-Price-1-50x34.png 50w" sizes="(max-width: 582px) 100vw, 582px"></a>
 <figcaption id="caption-attachment-355024" class="wp-caption-text">
 ADA Price, Source: CoinGecko
 </figcaption>
</figure>
ADA’s uptick follows an important announcement from the Cardano team. Tim Harrison – EVP of Community and Ecosystem Communications at Input Output – <a class="editor-rtfLink" href="https://x.com/timbharrison" target="_blank" rel="noopener noreferrer nofollow" data-wpel-link="external">said</a> the Chang Hard Fork upgrade is expected to go live on the mainnet on August 27. The final go/no go decision is scheduled for August 23, he added.
Cardano’s founder, Charles Hoskinson, also <a class="editor-rtfLink" href="https://x.com/IOHK_Charles/status/1825982003444875426" target="_blank" rel="noopener noreferrer nofollow" data-wpel-link="external">highlighted</a> the upcoming update, claiming that the “rocket is on the pad” and “governance is coming.”
According to the official announcement, the next appropriate window for the hard fork is September 3 (assuming it does not go live on the mainnet next week).
<blockquote>
 “However, the current indications suggest the 27th of August is viable, and that is what the hard fork working group technical teams are working towards. Pre-production will be a hard fork on the 22nd of August in preparation,” the disclosure <a class="editor-rtfLink" href="https://x.com/IntersectMBO/status/1825946121765896609" target="_blank" rel="noopener noreferrer nofollow" data-wpel-link="external">reads</a>.
</blockquote>
The Chang Hard Fork is a major upgrade for the Cardano blockchain, marking a step towards full decentralization and community-driven governance. It is part of the Voltaire era of the team’s development roadmap, which focuses on implementing a sustainable and distributed governance framework. The upgrade aims to enhance transparency, security, and community participation.
<h2 id="span-data-preserver-spaces-true-how-are-ada-holders-faring-span">How are ADA Holders Faring?</h2>
The asset’s recent price increase has slightly improved the situation for its investors. According to IntoTheBlock, around 22% of all ADA HODLers are currently <a class="editor-rtfLink" href="https://app.intotheblock.com/coin/ADA" target="_blank" rel="noopener noreferrer nofollow" data-wpel-link="external">sitting</a> on some paper profits, while over 75% are underwater.
In comparison, almost nobody invested in the token was in the green at the start of the month. Back then, the crypto sector <a class="editor-rtfLink" href="https://cryptopotato.com/over-500-billion-gone-from-crypto-markets-since-friday-here-are-the-biggest-losers-market-watch/" target="_blank" rel="noopener noreferrer nofollow" data-wpel-link="internal">experienced</a> a severe crash, which pushed its global market cap to well below $2 trillion. ADA was among the worst-affected coins, tumbling to a nine-month low of $0.27.
&nbsp;
&nbsp;
The post <a href="https://cryptopotato.com/massive-cardano-ada-update-scheduled-for-later-this-month-heres-what-you-need-to-know/" rel="noopener noreferrer nofollow">Massive Cardano (ADA) Update Scheduled for Later This Month: Here’s What You Need to Know</a> appeared first on <a href="https://cryptopotato.com/" rel="noopener noreferrer nofollow">CryptoPotato</a>.

Massive Cardano (ADA) Update Scheduled for Later This Month: Here’s What You Need to Know

Table of Contents

CryptoPotato_News

Other articles published on Aug 21, 2024

Pawfury PAW: The Next 100x Crypto Star? Here’s What Experts Are Saying

Clearpool Unveils Ozean: Exclusive Blockchain for Real-World Assets (RWAs)

FTX Fuels Crypto Market Rebound

Best Cryptos in August 2024 That Will Smash All-Time High in 2024 With 100x Upside

Elon Musk Drives DOGE Price Up: Discover How He Made It Happen

Memereum and Super Trump Coin Lead the Pack, But Is There a Dark Horse Emerging – MoonBag

Join our free newsletter for daily crypto updates!