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Pundit Identifies Four Factors That Can Propel Cardano to $3

Abdulkarim Abdulwahab
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Pundit Identifies Four Factors That Can Propel Cardano to $3

Amid recent struggles for Cardano, a notable analyst identifies four key developments that could drive ADA up by 600% to $3 this year.

Cardano (ADA) has underperformed in the bull market in recent weeks, struggling to rise above the psychological $0.50 level. The ongoing market downturn has worsened ADA’s position, pushing it dangerously close to falling below $0.40.

Despite ADA’s continuous retreat from the $1 mark, there remains optimism about its prospects for the remainder of the year. Sebastian, a notable analyst, recently expressed confidence that ADA could reach $3 this year.

Notably, $3 is approximately Cardano’s all-time high, which it last reached during the height of the 2021 bull run. With ADA trading at $0.4322, it is 86% below its September 2021 ATH of $3.10.

Reclaiming this threshold in 2024 demands that ADA soar by over 600% within the next six months. This is a challenging feat, particularly since Cardano has not seen a rally of this magnitude during the current bull market. As a result, the analyst grounded his ambitious outlook on four upcoming developments within the Cardano ecosystem.

Four Factors Expected to Drive Cardano to $3 in 2024

Leading this list was Cardano’s recent collaborations with multiple public administrative entities in Argentina.

Cardano Argentina Partnerships 

On June 5, the Cardano Foundation partnered with Entre Ríos, a collaboration formalized by Governor Rogelio Frigerio and Cardano’s business development officer Rafael Fraga. This partnership looks to integrate blockchain technology into public administration, driving digital transformation.

Two days later, J.J. Siler, the Chief of Staff of IOG, signed a memorandum of understanding with the University of Buenos Aires. The aim is to host a constitutional convention exploring blockchain applications via Cardano. 

Emphatically, these partnerships are expected to enhance Cardano’s adoption in Argentina by demonstrating its practical applications in public administration.

Chang Hard Fork

The Cardano Chang Hard Fork has been teased as the most significant upgrade for the Cardano blockchain, which is anticipated this month. This hard fork is expected to mark a new era of decentralized governance for Cardano. 

Notably, Cardano is in the Basho era, which introduced Hydra. The next era is the Voltaire era, the final stage of its roadmap. This era focuses on complete decentralization through community governance, where ADA holders can influence the network’s future. The Chang hard fork is the first significant step in this era.

New dApp and 1.5B ADA Unlock

Furthermore, the analyst highlighted the launch of new dApps on Cardano and the anticipated unlocking of 1.5 billion ADA tokens from the treasury. These tokens will be invested in ecosystem growth and adoption, which are vital factors supporting Cardano’s potential journey to $3 this year.

Ripple CEO Provides Fresh Update Regarding Final Verdict in SEC Lawsuit

Lele Jima
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Ripple CEO Provides Fresh Update Regarding Final Verdict in SEC Lawsuit

Brad Garlinghouse, the CEO of Ripple Labs, provides a fresh update regarding when U.S. District Judge Analisa Torres will issue a final verdict in the SEC lawsuit. 

During the XRP Ledger Apex 2024 conference, Garlinghouse told an audience that Ripple is optimistic about reaching a resolution in the lawsuit soon, adding that the judge will determine the timeline for the final verdict. 

Court to Issue Final Verdict Before End of Summer 2024

Nonetheless, the Ripple CEO estimated that Judge Torres could issue the final verdict before the end of summer 2024. Notably, he clarified that summer might extend beyond August to September 21, the date marked as the astronomical end of summer. 

“We can’t control that [the outcome of the final resolution] now; the judge will make the decision when she makes a decision. My estimation is that it will be sometime before the end of the summer. Somebody asked me if summer is by the end of August; I pointed out that September 21st is the end of summer,” Garlinghouse remarked. 

Garlinghouse Questions Motive Behind Attack on XRP  

Furthermore, Garlinghouse expressed frustration with the SEC’s decision to target XRP first ahead of other crypto assets. The Ripple CEO questioned the timing and rationale behind the move.  

“There are things that are super frustrating. Why did the SEC go after XRP ‘first’?” the Ripple CEO quizzed. 

The comment suggests that the SEC first initiated legal actions against XRP when hundreds of other cryptos required similar scrutiny. Meanwhile, Garlinghouse is optimistic that the multi-year legal tussle is nearing a conclusion, projecting that the court will issue the final verdict before September 21. 

Previous Predictions on SEC Lawsuit 

This is not the first time Garlinghouse has predicted the potential end date of the SEC lawsuit. In 2022, the Ripple CEO projected that the court would resolve the lawsuit in the first half of 2023. 

During the 2023 Dubai Fintech Summit, he updated the timeline to the end of Q3 2023. The complexity of the SEC v. Ripple lawsuit makes it difficult for anyone to predict the timeline for the final resolution accurately. 

However, most experts following the lawsuit believe the court will issue the final verdict this year. As reported earlier, prominent XRP community figure Ashley Prosper speculated that the only factor delaying the final verdict is the ruling on whether SEC’s official Andrea Fox is an expert or summary witness. 

For context, the SEC submitted Fox’s declaration in support of its opening remedies-related brief on March 22. Interestingly, Ripple filed a rebuttal a month later, asking the judge to exclude the declaration while portraying her as an expert witness. 

The court’s ruling on the matter will significantly impact the outcome of the case. Hence, the court will address the matter before the final decision. Besides projections, there is still no official date regarding when the court will issue the final verdict. 

Top Trader Predicts Monumental 1,000% Shiba Inu Surge to $0.00022

Abdulkarim Abdulwahab
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Top Trader Predicts Monumental 1,000% Shiba Inu Surge to $0.00022

Valeriya, a crypto trader with a significant following in the community, argues Shiba Inu is primed for a 1,000% surge this month.

Shiba Inu has continued to defend the $0.000022 price level in the ongoing market dip. Despite bottoming at $0.00002112 in the last 24 hours, SHIB has seen slight relief, trading at $0.00002207 at press time. 

At this value, Shiba Inu shoulders a more than 15% loss in the price it sold for last week, but this represents a meager 1.75% loss over the last month. However, optimism remains high for a significant turnaround in June.

Shiba Inu Soaring 1,000% This Month

In a post on X, crypto trader Valeriya argued that Shiba Inu is on track for a 10X rally this month. She listed Shiba Inu alongside other high-performing tokens like Toncoin (TON) and PEPE as candidates for 1,000% price gains.

Notably, a 10X surge for Shiba Inu would set the prominent meme coin on a new historical path, potentially trading with just three leading zeros at $0.00022. While projections of Shiba Inu reaching this threshold are popular, the timeline for June 2024 is less common.

Shiba Inu community analyst SHIB Knight similarly proposed that the asset could make history this June. However, his target value is $0.0001, which would require a 300% surge. SHIB Knight’s forecast is grounded in his observation of Shiba Inu’s market trends rather than mere speculation.

Meanwhile, Shiba Inu’s ecosystem market specialist Lucie recently hinted at a $0.0002858 price surge for SHIB due to ongoing developments within its ecosystem.

Drawing from past performance, such as the 1,126% rise in October 2021, Lucie believes the strengthened ecosystem could lead to an even greater increase. However, she offered no timeline for this optimistic outlook.

Analysts Propose Extended Timeline for $0.00022

Analysts from the Changelly crypto exchange predict Shiba Inu could reach a $0.0002 price level by October 2028, revising an earlier forecast of $0.00024 by 2031. Telegaon analysts concur, projecting a minimum price of $0.000207 and an average of $0.000289 for SHIB in 2028.

Essentially, while the outlook of a 10X surge driving Shiba Inu to $0.00022 is widespread, the argument for such an occurrence this month is contestable. However, this does not eliminate its possibility, given Shiba Inu’s history.

Crypto Advisor Outlines Timeline for When Shiba Inu Could Slip into Full Bull Season

Sam Wisdom Raphael
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Crypto Advisor Outlines Timeline for When Shiba Inu Could Slip into Full Bull Season

Coach K, a Bangkok-based crypto advisor and TA expert, has outlined a timeline suggesting when Shiba Inu might enter a full bull market, drawing on historical context.

The market analyst presented this in a recent post on X, calling attention to Shiba Inu’s launch and subsequent price performance months later. This commentary comes at a time when SHIB is struggling to defend itself against further price dips, as bearish pressure mounts.

Notably, The Crypto Basic recently discussed this bearish position, citing an analysis from market watcher The Don of Apes. He called attention to the possibility of a price drop below the $0.00002 territory. According to him, Shiba Inu might slump to $0.00001822, but this would represent a good entry point for investors.

Shiba Inu Rollercoaster Ride

This bearish condition follows a previous uptrend recorded by Shiba Inu earlier this year. SHIB exploded by over 370% from Feb. 24 to March 5, clinching a new yearly top above $0.000045. The correction that followed has now made it give up most of the gains. Despite this, Shiba Inu remains above its price point before the rally.

Interestingly, Coach K believes the dog-themed crypto asset might be repeating a pattern it recorded months after its launch. For context, shortly after launch, Shiba Inu witnessed occasional price surges, deleting multiple leading zeros and eventually spiking to $0.00003532 in early May 2021, per CoinGecko data. 

After this spike, SHIB witnessed a massive correction, collapsing by 80% to a low of $0.00000698 on May 22, 2021. Shiba Inu remained in this bearish state for a few months, largely consolidating and facing resistance to any attempts at a breakout.

The bearish season persisted until late September 2021, when SHIB began to show signs of a breakout. This coincided with the second phase of the 2021 bull run, providing enough strength for SHIB to break out of the bearish consolidation phase. 

Projected Timeline for the “Real Bull”

After the breach, Shiba Inu then skyrocketed to the all-time high of $0.00008845 in October 2021. Coach K sees this pattern repeating in the current bull run. Notably, Shiba Inu is currently in the bearish consolidation region. The next price surge could lead to more substantial gains.

Coach K expects this breakout and surge to occur after summer, as was the case in the previous bull market. He dubs this upcoming uptrend the “real bull.” While the analyst failed to set any price targets, others project that this bull run could lead to a breach of the current all-time high. For instance, media personality Eljaboom expects a SHIB spike to $0.00024.

Bitcoin Cash (BCH) Price Plunges 17% in 5 Days: Is This a Buying Opportunity?

Mark Brennan
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Bitcoin Cash (BCH) Price Plunges 17% in 5 Days: Is This a Buying Opportunity?

Bitcoin Cash price fell to a 25-day low of $447 on June 12, 2024; recent trends observed among BCH derivatives traders suggest the market bottom could be near. 

Bitcoin Cash Price Plunges to 25-day Low

The global crypto market slid into a consolidation phase on Tuesday, June 11, as bulls failed to sustain the positive start to the week. Bitcoin Cash mirrored the broader crypto market performance, tumbling to new weekly lows.

BCH’s flailing price performance dates back to June 7, when the US Non-Farm payrolls report triggered a considerable market crash. Since then, BCH price has struggled to find sufficient demand for a sustained rebound phase.

Bitcoin Cash Price Action (BCH/USD) | TradingView
Bitcoin Cash Price Action (BCH/USD) | TradingView

As seen in the chart above, Bitcoin Cash price has declined 16.81% from $520 on June 7, and falling as low as $439 within the daily timeframe on June 12.

After 5 consecutive days in decline, Bitcoin Cash price has now fallen to its lowest in 28 days dating back to May 15, 2024. With BCH price trending at historic lows, historical market data suggests that it could attract the attention of strategic investors on the sidelines looking to buy-in at the bottom.

BCH Funding Rates Enter Negative Zone as Rebound Phase Nears

In further affirmation that the BCH downtrend could be near the bottom, the majority of Bitcoin Cash derivatives traders have taken on a risk-averse outlook this week. As prices fell rapidly over the last 5-days, bull traders have suffered significant liquidations and are now unwilling to mount leverage LONG positions.

Coinglass’ Funding Rate trend tracks the percentage fees paid between SHORT traders and LONG contract holders in the BCH perpetual futures markets.

Bitcoin Cash Price vs. BCH Funding Rate | Coinglass
Bitcoin Cash Price vs. BCH Funding Rate | Coinglass

The chart above shows that the BCH Funding rate entered negative values on June 12, sliding as low as -0.003% at the time of publication. Negative values of funding rates mean that bears are dominant and paying fees to keep their SHORT contracts open, while bull traders rein in their positions.

When interpreted within the current market dynamics, it suggests that SHORT traders are now dominating the short-term momentum, and paying higher fees to keep their traders open, in hopes that BCH price will decline further in the days ahead.

When funding rates swing negative after a prolonged period of price downtrend, as observed in the BCH markets this week, it often signals that the bottom could be near.

If strategic investors take this cue to enter new positions, Bitcoin Cash’s price could be on the verge of entering a rebound phase.

BCH Price Forecast: $500 Retest is Viable

Bitcoin Cash price has declined 17% in the last 5-days, but with SHORT traders now mounting larger leveraged positions, a rapid price upswing could trigger a short-squeeze.

In this scenario, a bullish trend reversal would mean that short traders have to purchase larger volumes of BCH to cover their leveraged positions, thus sending prices rising even faster.

Looking at the active LONG vs SHORT contracts trends, BCH’s next major resistance cluster now lies at the $512 level.

 

Bitcoin Cash Price Forecast | Coinglass
Bitcoin Cash Price Forecast | Coinglass

As seen above, Leverage LONG contracts have now exceeded SHORT addresses by a margin of almost $5 million. At the time of writing, SHORT traders stand to lose $2.39 million if BCH price breaks above the $512.8 mark. Having held at a loss for weeks, many of these investors could opt to take early profits, inadvertently slowing that the Bitcoin Cash price recovery phase.

But on the flip side, if the bears force another wave of retracement, BCH bulls will have to mount steady support at the $430 level to avoid doubling their monthly timeframe losses.

Dormant Bitcoin Whale and Top Miner Move to Sell 9K BTC

Lele Jima
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Dormant Bitcoin Whale and Top Miner Move to Sell 9K BTC

Bitcoin faces intense selling pressure as a large investor moves 8K BTC to multiple addresses, including exchanges, at a time when the asset saw its largest OTC selling volume since March.  

The price of Bitcoin (BTC) plummeted heavily this week, crashing below $67,000 yesterday. Interestingly, Bitcoin has embarked on a major recovery today as its price has spiked 3.26% over the past 24 hours to $69,440. 

Despite Bitcoin’s remarkable gain in the daily charts, many investors have been cautious as they expect it to resume its bearish performance. This belief stems from the potential selling pressure facing Bitcoin this week. 

Bitcoin Faces Potential Selling Pressure 

CryptoQuant CEO and founder Ki Young Ju disclosed that Marathon Digital, the largest daily Bitcoin mining company, sold a whopping 1K BTC ($69.4M) yesterday. Young Ju speculated that Marathon sold the asset to cover its operational expenses. 

According to him, the transaction marks the largest over-the-counter (OTC) miner-related selling volume in a single day since late March, when a mining company sold 1.2K BTC. 

5.5 Years Dormant Address Awakens, Moves 8K BTC

Another reason why Bitcoin faces intense selling pressure is the movement of 8K BTC from an address that has been dormant for 5.5 years. Prominent crypto-focused Chinese reporter Colin Wu, citing data from Arkham Intelligence, revealed that the wallet transferred the 8K BTC to multiple addresses yesterday at 21:37 (UTC+8). 

Wu noted that the large investor transferred some funds to four Binance addresses, totaling 1.416K BTC. The previously dormant Bitcoin addresses also moved some assets to other exchanges, including KuCoin, Bybit, and Gate.io. 

Notably, the movement of funds from external addresses to exchanges typically signals the intention to sell. Unlike transactions relating to external wallets, blockchain data does not reveal what happens to these funds after they are sent to exchanges. 

Furthermore, the unknown user also moved a total of 150 BTC to Wintermute, an algorithmic trading firm. Other transactions indexed by Wu include the transfer of three sums of 882 BTC to three unknown addresses. 

The movement of the previously dormant 8K BTC and Marathon Digital’s sale of 1K BTC could mount selling pressure on Bitcoin as investors may move to shield themselves from the bearish impact of these developments. 

Nonetheless, Bitcoin is currently trading in green, with its price up 3.26% in the past day to $69,440. 

Ripple Officially Introduces Ripple USD (RLUSD) Stablecoin

Abdulkarim Abdulwahab
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Ripple Officially Introduces Ripple USD (RLUSD) Stablecoin

Ripple has officially unveiled Ripple USD (RLUSD), confirming RLUSD as its forthcoming stablecoin trading symbol.

This announcement first came from Ripple’s CEO Brad Garlinghouse during his session at the ongoing XRP Ledger Apex summit. Also present at the session was Ripple CTO David Schwartz.

When asked, Garlinghouse revealed that the Ripple stablecoin will be named RLUSD, humorously referring to it as the “Real USD.” However, he noted that the term “RLUSD” was inspired by “Ripple USD.”

Ripple Officially Introduces RLUSD

Following the revelation from Ripple’s chief executive officer, the company formally introduced the RLUSD term through its official website and social media accounts. 

 

Significantly, this announcement follows the company’s trademark application for the same name with the U.S. legal database registry, Justia, a month ago. 

While the trademark application was still under review, community members stumbled upon the filing and began speculating that RLUSD might be the chosen ticker for Ripple’s stablecoin.

The application detailed that RLUSD would be used for electronic financial services, specifically for managing virtual currency payments and transfers.

During the period of speculation, Ripple neither confirmed nor denied the rumors. The eventual confirmation of RLUSD as the stablecoin’s name has not gone uncriticized as community members had hoped for names like USDX or USDR.

However, as reported by The Crypto Basic, Ripple is unable to use USDX or USDR due to their prior adoption by other entities in the stablecoin market. Specifically, Flare Networks had already announced USDX as the name for its stablecoin, and ‘USDR’ has been adopted by the issuer of the Real USD stablecoin.

Ripple USD (RLUSD) Trading This Year

Significantly, the now-announced Ripple USD (RLUSD) is not yet live. Ripple plans to launch the stablecoin on the XRP Ledger and Ethereum before the end of 2024. RLUSD will be a 1:1 USD-backed stablecoin, offering transparency and stability to the market.

Ripple’s pivot towards the stablecoin market aims to capture a share of this rapidly growing sector, projected to reach a valuation close to $3 trillion in the next four years.

Bitcoin Surges Amid Lower-than-Expected CPI Data and Fed Rate Cut Speculations

Zabi
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Bitcoin Surges Amid Lower-than-Expected CPI Data and Fed Rate Cut Speculations

Bitcoin rose to $69,499 after May’s CPI data showed a drop to 3.3%, fueling market optimism for rate cuts and boosting the crypto market.

The recent release of the U.S. Consumer Price Index (CPI) data for May revealed an unexpected decline, leading to notable movements in the crypto market, particularly driven by Bitcoin. 

The unadjusted CPI annual rate in May was 3.3%, slightly lower than the anticipated 3.4% and a decrease from the previous month’s 3.4%. Similarly, the unadjusted core CPI annual rate fell to 3.4%, compared to the expected 3.5% and the prior month’s 3.6%. This marks the lowest core CPI annual rate since April 2021.

Bitcoin’s Price Movement

Following the release of the CPI data, the crypto market responded with notable price increases. Bitcoin’s price surged to $69,499.12, reflecting a 3.86% increase in the last 24 hours. 

This rise came amid aggressive buying of June 13 calls and a substantial increase in the funding rate, indicating market anticipation of an upside surprise. QCP Capital noted that an inline CPI print and a neutral Federal Open Market Committee (FOMC) outcome could lead to the crypto market retesting its recent highs.

Analyst Ali Martinez highlighted Bitcoin’s historical tendency to rebound after FOMC meetings. His recent chart showed Bitcoin’s price climbing from around $68,020 to a peak of $69,276.93 before a minor pullback. 

Ali’s chart analysis indicate a sharp price increase and subsequent profit-taking. Michaël van de Poppe, founder of MN Trading, observed that lower-than-expected CPI data led to significant drops in the Dollar and Treasury yields, further fueling the bullish sentiment for Bitcoin and altcoins.

Future Expectations 

The drop in gasoline prices reportedly contributed to the unexpected decline in the CPI, leading the market to anticipate a 25 basis point interest rate cut by the Federal Reserve in November, with a 100% probability. 

However, a rate cut in September remains uncertain, per Colin Wu. This anticipation of rate cuts has bolstered optimism in the crypto market, despite a recent retracement where Bitcoin briefly fell to a daily low of $66,741.

Historical patterns and current market conditions suggest continued bullish trends, with prominent analysts viewing the dips as buying opportunities.

Ripple Plans Pivot of XRPL EVM Sidechain from XLS38D to Axelar Bridge This Year

Sam Wisdom Raphael
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Ripple Plans Pivot of XRPL EVM Sidechain from XLS38D to Axelar Bridge This Year

Ripple has revealed a major pivot for the XRPL EVM Sidechain, opting to transition from the originally planned XLS38D bridge to the Axelar bridge.

XRPL EVM Sidechain to Launch This Year

This transition aligns with the company’s preparations for the eagerly awaited debut of the XRPL EVM Sidechain. As outlined in a recent press release, Ripple has disclosed that the planned pivot, in collaboration with Peersyst, is slated for later this year.

The choice to transition to Axelar is driven by the growing need for a streamlined and robust bridge solution. Ripple’s team has emphasized that the general trajectory of the blockchain industry inherently involves multi-chain ecosystems.

Ripple CTO David Schwartz spotlighted this development during the XRPL Apex summit. Peersyst has affirmed its dedication to executing this transition promptly, with the objective of launching the EVM Sidechain following the completion of Axelar Network integration.

A Pivot from XLS38D to Axelar Bridge

Although XLS38D was initially under consideration for the XRPL EVM Sidechain, its intricate token transfer process posed significant hurdles. By exclusively prioritizing Axelar, Ripple aims to streamline operations and mitigate these complexities. Ripple intends to assess adoption and engagement with XLS38D over the coming year, offering updates in response to community input.

The introduction of the XRPL EVM Sidechain opens up exciting prospects for developers in decentralized finance (DeFi) and the tokenization of real-world assets. This initiative aims to enhance the functionality and accessibility of the XRP Ledger (XRPL).

According to the press release, the integration of the XRPL EVM Sidechain with the mainnet will entail utilizing a bridge featuring wrapped XRP (eXRP) as the primary asset and gas token. This bridge is designed to facilitate seamless interoperability and optimize transaction processing between XRPL and the EVM Sidechain.

The XRPL EVM Sidechain will rely on Axelar as the sole bridge for acquiring eXRP from XRPL. Additionally, Axelar will facilitate the bridging of other tokens between the XRPL and more than 55 blockchains within its ecosystem. The decentralized architecture of Axelar’s bridge, overseen by a resilient network of validators, guarantees a secure and reliable infrastructure.

Peersyst CEO Ferran Prat emphasized Axelar’s preparedness and compatibility in facilitating the integration of eXRP into the XRPL EVM Sidechain. Presently, the Peersyst team is engaged in transitioning the primary bridge to Axelar for the devnet.

Expert Predicts Timeline For Cardano to Hit $2

Zabi
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Expert Predicts Timeline For Cardano to Hit $2

The Cardano Chang hard fork could propel ADA to $2, predicts analyst Sebastian, with major upgrades in governance and smart contract efficiency.

Crypto analyst Sebastian has provided an update on the upcoming upgrade for the Cardano blockchain, indicating that June will mark the initial node upgrade. According to him, by August, all nodes should be updated, and the Chang Hard Fork is expected to be live. 

Sebastian predicts that ADA, currently trading at $0.4254, could reach $2 by August based on historical price surges preceding hard forks.

The Chang Hard Fork and Cardano’s Voltaire Era

The Chang Hard Fork, first announced in late 2022, is set to usher in Cardano’s “Voltaire” era. This phase will transition decision-making power from IOHK to the wider community. Charles Hoskinson, Cardano’s CEO, also confirmed that Cardano Node 9.0, which will enable the fork, is truly slated for release. 

According to Hoskinson, this development is a milestone in Cardano’s history. He emphasized the community’s role in achieving a decentralized governance system, which includes annual budgets, a treasury, and collective wisdom guiding the network.

Historical Precedents 

Community member Rami highlighted that past hard fork events have led to ADA price increases. The Chang Hard Fork is expected to enhance smart contract efficiency through Plutus v3 and introduce on-chain governance, distributing 1 billion ADA to the community. 

As the upgrade rolls out, improvements in decentralized exchanges (DEXs) speed, increased stablecoin usage, new central exchange (CEX) listings for many Cardano Native Tokens (CNTs), and the upcoming midnight airdrop are also anticipated.

Cardano’s Progress Amid Skepticism

Despite facing criticism from crypto influencers and media, Hoskinson maintains that Cardano is on track for substantial progress. He noted the disconnect between Cardano’s actual advancements and its portrayal by detractors. 

During this press, the price of Cardano (ADA) stands at $0.4253, with a 24-hour trading volume of $496,920,640. This indicates a 0.88% decrease in the past day and a 7.73% drop over the last week.

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