Cardano (ADA) Price Prediction: Will ADA Price Eye $0.50 After the Chang Hard Fork?

Cardano's price today stands at $0.364234, with a 24-hour trading volume of $507.33 million. The market cap is $13.00 billion

Cardano's (ADA) price is showing signs of strength ahead of the Chang Hard Fork, which is set to occur on September 1, 2024. This hard fork is a crucial step in Cardano's path toward complete decentralization, a factor that has played a key role in boosting investor confidence.

The decision by major stakeholders in the Cardano ecosystem, including Intersect, Emurgo, the Cardano Foundation, and Input|Output, to proceed with the hard fork showcases the strong consensus and strategic direction within the community.

Recent challenges, such as the delay caused by insufficient exchange liquidity, have also been largely resolved, with a majority of exchanges now ready for the upgrade. This preparedness brings stability and reduces uncertainty, providing further support to ADA's price.

As the hard fork approaches, market participants are likely positioning themselves in anticipation of potential gains, which is contributing to ADA's current price levels. If the hard fork proceeds smoothly and successfully implements the planned enhancements, ADA could experience further upward momentum, making the $0.50 target increasingly achievable.Cardano's price today stands at $0.364234, with a 24-hour trading volume of $507.33 million. The market cap is $13.00 billion, giving it a market dominance of 0.62%. Over the last 24 hours, ADA's price has increased by almost 4%.

Cardano reached its all-time high of $3.10 on September 2, 2021, and its lowest price of $0.017354 on October 1, 2017. Since reaching its ATH, the lowest point was $0.234392 (cycle low), while the highest price since that low was $0.806108 (cycle high). Currently, the sentiment around Cardano's price prediction is neutral, with the Fear & Greed Index showing a score of 29, indicating fear.

Cardano's circulating supply is currently 35.69 billion ADA out of a maximum supply of 45.00 billion ADA. The yearly supply inflation rate is 5.53%, meaning 1.87 billion ADA were created in the past year.