Bitrabo Editorial
The Cardano Chang Hard Fork looms, anticipated to be a significant catalyst for the ADA price. Speculation is rife that this hard fork’s completion might unleash a price rally propelling ADA towards its previous peak of $3.1. However, the burning question remains: can this surge match the monumental 2021 rally following the Alonzo Hard Fork?
Recalling the Phenomenal 2021 Cardano Surge
In 2021, the Cardano Alonzo Hard Fork marked a pivotal moment in the crypto space by introducing smart contracts and DeFi functionality to the network. This highly anticipated upgrade ignited a surge in ADA’s price.
Leading up to the hard fork, ADA’s price soared from a modest $0.2 to an impressive $3.1. By the completion of the Alonzo Hard Fork in September 2021, ADA had surged over 1,400%, outshining major cryptocurrencies like Bitcoin and Ethereum during the bullish market phase.
The remarkable 2021 rally underscored the market’s optimism surrounding hard forks and their potential to boost prices. With the upcoming Cardano Chang Hard Fork, similar enthusiasm could fuel another impressive price rally, echoing the events of 2021.
Will ADA Price Emulate the 2021 Rally?
The Cardano Chang Hard Fork, originally slated for Q2 as per founder Charles Hoskinson, missed its projected completion timeline. This delay extends the runway for market momentum to gather steam ahead of the anticipated upgrade.
Regarding ADA’s price trajectory, expectations are high that it could breach the $1 mark. However, drawing parallels to the 2021 surge, a comparable rally might propel the price beyond the anticipated threshold.
A 1,400% surge from current levels could elevate ADA’s price to approximately $5.7 at its peak, setting a new all-time high this year, akin to the 2021 performance post-hard fork.
As of the latest update, Cardano is trading at $0.41, reflecting a 4% increase over the past 24 hours.