Cardano (ADA) has been underperforming compared to many other crypto projects for quite some time. While it previously occupied a position in the top 10 of cryptocurrencies in terms of market capitalization, it has now been overtaken by Toncoin (TON) and Dogecoin (DOGE), among others.
However, there is hope for the patient investor, with interesting developments such as the Chang hard fork on the horizon.
A Cardano rate of 2 dollars?
Crypto-analist Sebastian predicts a significant increase in Cardano’s value in the near future. At the time of writing, ADA is worth $0.44, but he estimates this value could rise to $2 by August.
If his prediction comes true, it would mean an increase of more than 350%. Sebastian points to historical price increases that often occur prior to hard forks and believes this trend will continue with the upcoming Chang hard fork.
What does the Chang hard fork entail?
The Chang hard fork, announced in late 2022, marks the start of Cardano’s “Voltaire” phase. This phase is seen as a milestone in the evolution of the network, with important technological, managerial and market-oriented improvements.
Voltaire focuses on full decentralization and self-governance of the network, transferring decision-making from the development team to the wider Cardano community. This decentralized governance system includes an annual budget, a treasury, and a mechanism for the community to make decisions and manage the network.
To enable the Chang hard fork, Cardano Node 9.0 will be released. This update is crucial because it lays the technological foundation for the hard fork and its associated improvements.
In addition to technology upgrades, Chang is expected to bring practical improvements such as faster decentralized exchanges (DEXs) and increased use of stablecoins. In addition, the hard fork will enable new listings of Cardano Native Tokens (CNTs) on central exchanges.
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Source: https://newsbit.nl/crypto-analist-voorspelt-cardano-koers-van-2-in-augustus/
