Cardano hears voices of the game over as its native token price drops by 40%. Are these voices just speculations or do they have some reality?
Cardano hears voices of the game over:
One of the main Ethereum-based rivals, Cardano-ADA, is struggling in its price performance. The ongoing price correction of the digital assets was expected because a lot of cryptocurrencies have made their ATH. Cardano’s native token ADA has also made a new ATH but in the price correction, its price has dropped drastically. Crypto price action sentiments aren’t yet on a flat tire. This downtrend of the coin is due to many reasons.
The price of the Cardano’s native token has dropped by over 40% in the market, according to a report. This downtrend of the coin started after making a new ATH when the price was nearly changing hands for good in terms of price action. The main reason behind this is the launch of the smart contract and the investor’s expectations from it. How people thought that the launch of the smart contract will bring something better for the blockchain.
Most rivals on-chain projects such as Solana, Algorand, and Elrond are already having DApp support on their network. But the infrastructure of the Cardano got delayed and many developers can’t launch their DApp on the chain. This is the reason, Cardano hears voices of the game over. SOL took full advantage of the situation and flipped Cardano within the space of the top ten cryptos.
Cardano hears voices of the game over but I think that there is more hope for the project to regain its full strength than ever before. Read more here.