Shiba Inu Crypto- How Cardano’s Chang Hard Fork Could Reshape the Crypto Landscape
Shiba Inu Crypto- Cardano’s ADA has been riding a wave of positive momentum, gaining about 9% over the past week. With the cryptocurrency trading around $0.36 and a market capitalization exceeding $13 billion, ADA ranks as the 12th largest cryptocurrency by market value. This recent uptrend is not just a random occurrence but is tied to a significant development in the Cardano ecosystem that could potentially drive ADA’s value even higher in the coming weeks.
What is the Chang Hard Fork, and Why Does It Matter?
Scheduled to go live on August 27, the Chang Hard Fork is a crucial upgrade for the Cardano blockchain. As reported by CryptoPotato, this upgrade is expected to usher in the Voltaire era, a phase focused on achieving full decentralization within the Cardano network. The final decision on whether this upgrade will proceed as planned will be made on August 23. However, the development team has identified another suitable window for the upgrade on September 3. While the exact date remains fluid, all signs point to the end of August as a viable target, which is what the Cardano team is working towards.
The Chang Hard Fork isn’t just another upgrade; it’s a landmark event that will significantly transform how Cardano operates. The Voltaire era marks a shift towards community-driven governance, enhanced transparency, and added security within the ecosystem. These changes are expected to make Cardano more resilient and adaptable, setting the stage for broader adoption and increased usage of its ADA token. Investors are keeping a close eye on this development, as successful implementation could further bolster ADA’s price.
SHIB Gains Additional Support, But ADA Leads the Pack
While Cardano’s ADA has been the star performer, the popular meme coin SHIB has also been making gains, albeit at a slower pace. Over the past seven days, SHIB has shown positive movement, though not as strong as ADA. The primary catalyst for SHIB’s recent uptrend has been the additional support it received from the US-based crypto exchange Kraken. Kraken has expanded its margin trading program to include several new trading pairs, including SHIB/EUR. Margin trading, while offering the potential for higher profits, also comes with increased risks, particularly the risk of liquidation. This option allows traders to use borrowed funds for leveraged trades, provided they offer collateral, which can include digital assets.
Other major exchanges have also thrown their weight behind SHIB. Robinhood has enabled SHIB trading services for residents of New York State, and Coinbase has introduced 1000SHIB-PERP perpetual futures contracts. These developments are crucial for SHIB’s liquidity and accessibility, making it easier for investors to trade and potentially increasing demand for the token.
BTC Remains Volatile Amid Political Speculation
Bitcoin (BTC), the largest cryptocurrency by market cap, has experienced a volatile few days, with its price fluctuating between $57,000 and $61,500. Currently, BTC is trading closer to the upper end of this range, around $60,800. The recent uptrend in BTC’s price is believed to be linked to a potential political announcement that could have significant implications for the cryptocurrency market.
Speculation is rife that independent US presidential candidate Robert F. Kennedy may soon exit the race and endorse Republican nominee Donald Trump. Trump has positioned himself as a pro-crypto candidate, promising to create an environment where Bitcoin and other cryptocurrencies can thrive if he wins the presidency. This has led many in the industry to speculate that a Trump victory could be a bullish signal for Bitcoin’s price.
Recent polls show Trump leading the race, with 53% of the total votes compared to 46% for his main opponent, Kamala Harris. If this trend continues, Bitcoin could see further price appreciation as more investors view a Trump presidency as favorable for the cryptocurrency market.
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