Cardano Prepares For Voltaire In June, ADA Down 45% In 3 Months: Will Bulls Take Over?
Cardano will set up for Voltaire once the Chang hard fork goes live in June. Ahead of this, ADA price is still down -45% in three months
Cardano has been building, and even when the network supported ADA transfers only, it remained in the top 10 most valuable coins.
Over the years, it has maintained this huge valuation as the network developers introduced new changes, enhancing the network’s capability.
BREAKING: ADA/USDT $0,4503 +2,22% #Cardano pic.twitter.com/dkpRhXJ63I
— Cardano Feed ($ADA) (@CardanoFeed) June 10, 2024
Chang Hard Fork Expected In June, Cardano Prepares For Voltaire
In a post on X, Charles Hoskinson, the founder of Cardano, said the release of Node 9.0 is imminent this month. When this release goes live, the developer added, it would mark the activation of the highly anticipated Chang Hard Fork.
It looks like June will be the month that Cardano Node will reach 9.0. This means that Cardano is Chang fork ready and waiting for 70 percent of the SPOs to install the new node. Then, a hard fork can occur pushing Cardano into the Age of Voltaire.
It's the most significant…
— Charles Hoskinson (@IOHK_Charles) June 9, 2024
As a crucial step towards the Chang hard fork, Cardano recently launched node version 8.9.2. This update addresses a critical peer-to-peer networking issue.
While validator nodes don’t have to update immediately, those running outdated software would be barred from processing transactions.
The network would transit through Chang to Voltaire, the last phase of its development roadmap. Cardano, like Ethereum, would be fully decentralized and efficient, where ADA holders would vote on proposals, shaping how the platform evolves.
Considering what the Chang hard fork will mean for Cardano, Hoskinson said the update will be one of the most significant milestones for the network and the broader crypto scene.
Of note is that Cardano will now evolve into a “decentralized civilization” with a global reach.
Currently, Cardano is in the Basho stage, where developers are working on changes to make it more efficient and performant. In Voltaire, the goal is to make Cardano decentralized via a community-first approach.
Cardano Improvement Proposal (CIP) 1694 lays the groundwork for creating a sophisticated voting system by the end of the year. Interestingly, further advancements will enable proxy participation and treasury withdrawals.
Cardano would empower ADA holders through these changes and allow the community to decide which projects receive funding.
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ADA Price Down -45% In 3 Months: What Happens Next?
It remains to be seen whether the Chang upgrade and the transition to Voltaire will lift ADA prices. After the impressive run, the coin dropped to as high as $0.80 in March 2024.
ADA is down -45% from 2024 highs at spot rates and continues to move horizontally. The sharp fluctuation late last week means the downtrend will remain until ADA closes firmly above the local resistance at $0.50.
(ADAUSDT)
Though past upgrades like Alonzo marking the start of Basho, for example, marked the beginning of a bull run, it is unclear what will happen next.
So far, Ethereum and Bitcoin are pulling back from their local resistance levels, impacting sentiment across the board.
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Disclaimer: Crypto is a high-risk asset class. This article is provided for informational purposes and does not constitute investment advice. You could lose all of your capital.
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