In anticipation of the upcoming Cardano Chang hard fork, Binance has confirmed its readiness, pushing exchange preparedness to a critical level.
This development comes on the back of a recent surge in the number of exchanges prepared for the upgrade, as the blockchain network gears up for one of its most significant updates.
As earlier reported by The Crypto Basic, the Chang hard fork team initially planned the hard fork for August 27 after assessing the readiness of key stakeholders and resources.
Binance Now Ready for Chang
However, on Aug. 24, Cardano founder Charles Hoskinson announced a postponement to Sept. 1, five days forward. According to him, this was due to many exchanges still not being ready, including Binance, which holds the highest Cardano liquidity at 15.73%.
At that time, only 31 exchanges had signaled their readiness. Interestingly, the number has now increased to 37, according to latest data sourced by block explorer Cardanoscan. Accordingly, Binance has joined the list of exchanges fully ready.
The Chang hard fork represents a critical step in Cardano’s evolution, and exchange readiness is essential for ensuring a smooth transition. Binance, the world’s largest cryptocurrency exchange by trading volume, signaled its readiness just four hours ago.
Besides Binance, other leading exchanges also indicated readiness today. These include Bithumb, Bybit, and Gate.io. Notably, Bitfinex became the first exchange to signal readiness earlier this month.
Cardano Chang Hard Fork Preparedness
Overall, 64% of exchanges, representing 37 platforms, are now ready for the hard fork. Another 17%, accounting for 10 exchanges, are currently in progress. Among these, HTX (formerly Huobi) is the most prominent, with 7.25% of liquidity. Bitget follows closely with 4.13%.
Cardano Chang Hard Fork Preparedness | Cardano scan
On the other hand, 11 exchanges, representing 19%, have not yet started preparations. Among these, Lithuanian-based exchange P2B holds the most significant liquidity at 3.21%, while the rest have less than 1% each.
In addition to exchange readiness, most wallets, including hardware wallets like Ledger, Trezor, and Keystone, as well as light wallets like Lace, Nami, and Begin, have signaled their readiness for the upgrade.
Moreover, IOHK, Cardano’s development company, announced an important update to the Daedalus wallet on Aug. 20, further preparing the ecosystem for the upcoming hard fork. Meanwhile, Stake Pool Operators (SPOs) are also showing strong support, with 92% already indicating readiness.