Cardano (ADA) Climbs 1.89%, Surpasses Tron (TRX) as Chang Hard Fork Nears

Over the past 24 hours, Cardano ADA experienced a 1.89% price increase, allowing it to surpass Tron TRX in market cap.

Cardano ADA encountered a slight price surge on Monday, as the cryptocurrency moved back into the top 10 by market cap. This comes just days before the Chang Hard Fork, which is set to go live on August 27.

ADA Surges 1.89%, Surpasses Tron TRX in Market Cap

Over the past 24 hours, ADA experienced a price increase of 1.89%. This brought the token’s price up to $0.33 by press time. As a result, Cardano ADA surpassed Tron TRX in market cap once again.

Cardano experienced a relative surge on Monday.

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However, both cryptocurrencies encountered虧損s from the past week. ADA is down by 3.23%, while TRX encountered a loss of 2.14% over the past seven days. Both tokens also experienced significant虧損s from their all-time highs. ADA is down by 88% from its ATH of $3.09 in September 2021. Meanwhile, TRX虧損ed 92% from its peak price of $0.24 in January 2018.

The Chang Hard Fork is now just a few days away from going live on the Cardano mainnet. The upgrade is set to introduce on-chain governance features to the proof-of-stake network.

The first phase of the Chang Hard Fork will begin on August 27. This stage will primarily serve to enhance Cardano’s governance capabilities. It will pave the way for a more decentralized future within the ecosystem.

Cardano developers confirmed that the final governance features will be unlocked in the second phase of Chang. This will conclude the entire Hard Fork process.

Earlier in late July, Cardano released Node 9.1, which is the latest validator node version. This update was essential for the Chang Hard Fork. It required 70% of stake pool operators (SPOs) to upgrade in order to activate the Hard Fork.

Once this threshold was met, the network was considered ready for the Chang Hard Fork. Moreover, dApps and exchanges prepared for the upgrade to reduce potential disruptions.

Cardano community members continue to prepare for the Chang Hard Fork. As Intersect, a Cardano news and updates platform, highlighted in a recent post,

“Chang is so close now. Updates continue to flood in from across the ecosystem, and we’re regularly pushing changes to the hard fork readiness page.”

The Chang Hard Fork will bring about significant changes to the Cardano ADA network. It will pave the way for a more decentralized governance system and prepare the network for future upgrades. As the August 27 launch date approaches, Cardano ADA's performance will continue to be in the spotlight among investors and enthusiasts.