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The crypto market has been constantly recording volatile price action over the past few days. This has created a Fear, Uncertainty, and Doubt (FUD)-like situation in the crypto space. Moreover, the market leader, Bitcoin's price, is currently valued at $59,168 with a 24-hour change of -2.27%.
It appears that positive sentiment for Cardano outweighs that for Ripple as a critical upgrade is nearing.
Intersect, a key member-based organization dedicated to the Cardano ecosystem, has announced the official timeline for the upcoming Chang hard fork via X. This update is pivotal in the ongoing development of the Cardano network, aimed at enhancing protocol efficiency and governance mechanisms.
Raoul Pal said that Cardano and Ripple have no innovative edge and losing ground to other emerging projects. Investors are eagerly awaiting for the Cardano Chang hardfork which will bring a community-driven governance model.
Cardano has fallen out of the top 10 cryptocurrencies by market cap, replaced by Tron
Intersect, a Cardano membership organization, has proposed the Chang hard fork for implementation on Aug. 27. In an Aug. 20 post, Intersect explained that its proposal was based on a thorough review of the project's progress, community feedback, and the Chang hard fork working group's sentiments.
A few days ago, Cardano's (ADA) price slipped to $0.32, bringing the altcoin's year-to-date performance lower. However, as of this writing, an approximate 5% increase has helped ADA revisit $0.35.
Founder of IOG, the company behind Cardano, Charles Hoskinson has published a tweet, responding to Raoul Pal's criticism of ADA and XRP.
Traders said that bitcoin would need to break above the $61,000 level and stay above it if sentiment were to change among market participants. PLUS: Trump retakes lead over Harris and Tron's TRX surges on Sunpump.meme's growth.
Investor sentiment took a hit on August 20 as notable crypto analysts, including Raoul Pal and Max Prime, voiced concerns about XRP's and ADA's future. The cryptocurrency's performance is being closely scrutinized amid ongoing legal challenges and broader market movements. Let's explore what's happening around XRP, and ADA.
Here's what might have fueled ADA's latest price uptick.
Cardano price may be staging a comeback, as the price has already surged 8.38% in the last three days, all while the Bitcoin price bounced between $58,000 and $61,000. This data reveals that the Cardano network developments have begun to impact price, especially compared with other high-priced coins belonging to relatively low-performing chains.
ADA is trading at $0.34, having gained just 2% over the past week. This decline reflects broader market trends and raises questions about the future trajectory of Cardano.
After completing the scaling and performance-based Basho phase, the Cardano Foundation announced the move to decentralized governance with Voltaire. Data from Cardanoscan revealed that 24% (14) of exchanges were ready for the transition, 36% (21) were in progress, and 40% (23) still needed to start working on the transition.
Cardano has risen by 2% in the past 24 hours, with the ADA price climbing to $0.3512 on a day when the crypto market has dropped by 3%.
Recent forecasts suggest that Cardano (ADA) could experience monumental gains if Ethereum (ETH) and Solana (SOL) achieve significant price milestones. Market commentator King Aryan has recently shared his ambitious projections for several major cryptocurrencies, including ADA, hinting at an extraordinary potential for growth if broader market trends align.
Data shows Cardano is witnessing a stronger bullish sentiment than the other top cryptocurrencies like Bitcoin and XRP. Cardano Sentiment Is Currently At Its Highest Of 2024 According to data from the analytics firm Santiment, the sentiment around cryptocurrencies has marked an improvement following the rebound Bitcoin and others have enjoyed.
In an unexpected twist of events, Cardano (ADA) has officially been ousted from the top 10 cryptocurrencies by market capitalization. The popular altcoin has also been usurped by Tron (TRX), marking a significant shift in the crypto market.
Cryptocurrencies remain a hotbed of opportunities, and 2024 is no exception. In a year marked by market shifts, several digital currencies are gaining attention due to their innovative technologies and promising growth potential. From emerging presale opportunities to well-established coins breaking new ground, we'll explore the top four cryptocurrencies expected to grow significantly in 2024.
Cardano has recently experienced a notable drop in its 1-week volatility, reaching its lowest level in six weeks. Typically, a decrease in volatility signals that the market is consolidating, preparing for a significant price movement.
Tim Harrison, the VP of Community and Ecosystem Communications at Cardano developer Input Output, has announced that the first phase of the Chang hard fork is expected to go live on the mainnet on Aug. 27.
Cardano (ADA) has recently slipped out of the top 10 cryptocurrencies by market capitalization, now trailing behind Tron (TRX), which boasts a market cap of $13.10 billion compared to Cardano's $12.23 billion.
TL;DR Cardano has released Daedalus 6.0.0, a crucial update ahead of the Chang hard fork, necessary for the transition to the Conway era. The new version includes the node update 9.1.0, improvements to the Ledger and Trezor hardware wallet libraries, and fixes for Linux systems with AppArmor.
Most of the coins from the top 10 list are again in the green area, according to CoinMarketCap.
