tl;dr
The upcoming Cardano Chang hard fork on September 1st could potentially increase the value of Cardano (ADA) from $600 million to $10 billion, placing control entirely in the hands of the community. This shift represents a significant turning point in crypto history and may attract new developers and...
The upcoming Cardano Chang hard fork on September 1st could potentially increase the value of Cardano (ADA) from $600 million to $10 billion, placing control entirely in the hands of the community. This shift represents a significant turning point in crypto history and may attract new developers and investors to the Cardano ecosystem.
Market trends for ADA show cautious optimism, with a recent 2.25% price increase and mixed sentiment. The derivatives market indicates cautious trading activity, with a decline in speculative interest, although there is a bullish bias in long/short ratios on major exchanges.
Cardano’s (ADA) Chang hard fork, arriving on September 1st, promises a shift in their blockchain governance, as per Dan Gambardello’s recent post on X platform. This upgrade has the potential to redefine Cardano’s position within the crypto space. Here’s the key takeaway: over $600 million worth of ADA (based on today’s price) will be placed entirely under community control.
The Cardano Chang hard fork is set for September 1st and isn’t just another upgrade; it’s an actual turning point in crypto history. Please understand that over $600 million will be entirely in the hands of… — Dan Gambardello (@cryptorecruitr) August 29, 2024
This figure could balloon to $5 billion or even $10 billion as ADA’s value increases, signaling a new era of decentralization. Cardano, often seen as a dark horse in the crypto world, has consistently held its ground among the top ten cryptocurrencies. The Chang hard fork is not just a technical upgrade; it represents a shift in Cardano’s governance. This development could attract more developers, users, and investors to the Cardano ecosystem, positioning it as a leading community-driven blockchain.
Looking beyond the hard fork’s implications, Cardano’s current market performance shows positive trends. The price of ADA is $0.358232, with a 24-hour trading volume of $246,618,162. It has risen by 2.25% in the last 24 hours and a market cap of $12.88 billion. The circulating supply stands at 35,960,643,044 ADA coins, with a maximum supply of 45 billion ADA coins.
The derivatives market paints a mixed picture for Cardano. The trading volume dropped by 39.23%, reaching $275.93 million, reflecting cautious trading activity. Meanwhile, open interest rose slightly by 1.34% to $182.38 million, suggesting that more positions are being held despite lower trading activity. Source: Coinglass Options trading has witnessed a significant decline of 92.94%, pointing towards a decrease in speculative interest. However, long/short ratios on major exchanges like Binance and OKX reveal a bullish bias, with more long positions held by accounts and top traders. Nonetheless, higher long liquidations in different time frames indicate cautious behavior.
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Stock Market Analysis: C3 Ai Inc (C3)
Company: C3 Ai Inc
Sector: Technology, Services-Prepackaged Software
Market Cap: $2.92B
Revenue: $310.58M
Price: $28.39
Change: -2.34
Earnings per Share: 2.602
P/E Ratio: -0.901
Volume: 196M