Cardano Eyes $2 Target as Chang Hard Fork Looms

Cardano (ADA) is attracting renewed bullish interest ahead of its upcoming Chang hard fork, with some analysts predicting a potential surge to $2 by August.

Chang Hard Fork to Empower Users

The Chang hard fork, also known as Cardano Improvement Proposal (CIP) 1694, is expected to be implemented before the end of June. This upgrade will allow Cardano users to directly vote on proposals and influence the network’s development.

Cardano founder Charles Hoskinson considers CIP 1694 the most significant update in Cardano’s history, ushering in the “Age of Voltaire” for increased user control.

Analyst Predicts 370% Price Rise

A crypto analyst known as Av_Sebastian on X (formerly Twitter) believes the Chang hard fork will trigger a significant price increase. Sebastian cites historical trends, pointing to past Cardano network upgrades that fueled substantial price rallies.

The Alonzo hard fork in 2021, which introduced smart contracts, saw ADA surge over 30x in a year. Based on this precedent, Sebastian forecasts a similar price hike for ADA, potentially reaching $2 by August when all nodes are expected to be updated.

Cardano Founder Open to Collaboration

In other Cardano news, Charles Hoskinson expressed his disappointment over the lack of response from Elon Musk regarding potential collaboration opportunities. Despite shared interests and attempts to connect, Musk hasn’t reciprocated Hoskinson’s efforts.

Hoskinson remains open to collaborating with Musk, particularly for integrating Midnight Protocol to enhance privacy on the X social media platform.

Cardano Price Remains Subdued

Despite the bullish predictions, ADA’s price hasn’t yet reacted significantly to the upcoming upgrade. At the time of writing, ADA is trading around $0.43, reflecting a slight decline over the past week.

ABOUT THE AUTHOR See More

Arslan Butt

Index & Commodity Analyst

Arslan Butt serves as the Lead Commodities and Indices Analyst, bringing a wealth of expertise to the field. With an MBA in Behavioral Finance and active progress towards a Ph.D., Arslan possesses a deep understanding of market dynamics.His professional journey includes a significant role as a senior analyst at a leading brokerage firm, complementing his extensive experience as a market analyst and day trader. Adept in educating others, Arslan has a commendable track record as an instructor and public speaker.His incisive analyses, particularly within the realms of cryptocurrency and forex markets, are showcased across esteemed financial publications such as ForexCrunch, InsideBitcoins, and EconomyWatch, solidifying his reputation in the financial community.

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