Cardano Poised for Potential 130% Surge Ahead of July Hard Fork

IconCryptoNewsTerminal Staff06 Jul, 2024

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Cardano Poised for Potential 130% Surge Ahead of July Hard Fork

Cardano (ADA) is gearing up for the highly anticipated Alonzo hard fork scheduled for the end of July. According to IntoTheBlock, a leading blockchain analytics firm, ADA is showing signs of a significant price rally in the lead-up to the hard fork. In the month preceding Cardano's previous hard fork in 2021, the price of ADA surged by an impressive 130%, from $1.35 to $3.10. This historical precedent suggests that ADA could potentially experience similar growth in the run-up to the Alonzo hard fork. The Alonzo hard fork is expected to bring smart contract functionality to the Cardano blockchain, making it possible for developers to build and deploy decentralized applications (dApps) on the platform. This major upgrade is seen as a catalyst for increased adoption and demand for ADA, potentially driving its price higher. It's important to note that cryptocurrency markets are highly volatile, and past performance is not indicative of future results. However, the historical data and technical indicators suggest that Cardano has the potential for substantial growth in the coming weeks as it approaches the Alonzo hard fork.

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