Cardano (ADA) has recently underperformed compared to other crypto projects. Previously ranked in the top 10 cryptocurrencies by market capitalization, it has now been overtaken by coins like Toncoin (TON) and Dogecoin (DOGE.
Hope for Patient Investors
However, there are positive developments on the horizon for patient investors, such as the upcoming Chang hard fork.
Can Cardano Reach $2?
According to crypto analyst Sebastian, Cardano's value is set to rise significantly in the near future. Currently, ADA is valued at $0.44, but he predicts that this could increase to $2 by August.
If his prediction comes true, it would represent a gain of over 350%. Sebastian points to historical price increases that often occur before hard forks and believes this trend will continue with the upcoming Chang hard fork.
This expectation does not include a possible collaboration with Elon Musk. If there is a collaboration, there will be a multiple price explosion
What Does the Chang Hard Fork Entail?
The Chang hard fork, announced at the end of 2022, marks the beginning of Cardano's "Voltaire" phase. This phase is a significant milestone in the network's evolution, bringing important technological, governance, and market-oriented improvements.
Voltaire focuses on complete decentralization and self-governance, transferring decision-making from the development team to the broader Cardano community. This decentralized governance system will include an annual budget, a treasury, and mechanisms for the community to make decisions and manage the network.
To support the Chang hard fork, Cardano Node 9.0 will be released. This update is crucial as it lays the technological foundation for the hard fork and its associated improvements.
In addition to technological upgrades, Chang is expected to bring practical improvements, such as faster decentralized exchanges (DEXs) and increased use of stablecoins. Furthermore, the hard fork will enable new listings of Cardano Native Tokens (CNTs) on central exchanges.
