Binance Shows Support for Cardano’s Latest Hard Fork; More Price Changes Ahead?

Cardano Chang upgrade, launched on September 1, 2024, will see the blockchain transition into the Conway era.As anticipation heightens, Binance, the leading crypto exchange, has announced its support for this upgrade.

Some analysts believe the upcoming hard fork could positively impact ADA's price.

Binance Announced Support for the Chang Upgrade

Binance recently shared a blog post indicating its support for the Cardano's upcoming development. The Chang upgrade is a big step for Cardano as it will move the network into the Conway era. This upgrade aims to give more power to the Cardano community.

According to the blog post, Binance will handle all the technical requirements for users and suspend all ADA withdrawals and deposits on the blockchain to ensure a smooth transition.

Once the upgrade is complete, on-chain transactions will return to normal. This will ensure that users experience no issues while Cardano introduces new functionalities via the Chang upgrade.

This support from Binance shows that major players in the crypto world take Cardano seriously.The Chang upgrade was initially set for August 27, but the launch was delayed to allow everyone involved, including Binance and other exchanges, to prepare.

According to the Binance post, September 1 was the new date, and the Change Upgrade went live at approximately 21:45 UTC. This upgrade is noteworthy for Cardano fans as it's moving the network closer to its goal of being truly community-governed.

Bullish Predictions: Is Cardano Set for a Big Rise?

However, ADA has yet to recover from the recent bearish pressure, as it's still 6.87% down over the past seven days. Despite this price drop, some analysts are making big predictions about Cardano's future.

One analyst, Alan Santana, thinks Cardano could see a huge jump. According to the analyst, Cardano is going through different phases. The price of ADA was in a strong descending channel, but it stabilized as buyers entered the market.

Santana sees signs of a potential breakout; He calls the first signs of this an appetizer," a little taste of what might come next. This breakout indicates that investor sentiment is changing, suggesting that a more significant price increase could be coming.

However, Santana mentions that the market is currently experiencing a slight drop. He sees this drop as a short break before a larger upward trend begins. According to his analysis, the price could increase by more than 2,200%.

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