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ADA Price Is Down 40%, The End-Game for Cardano?


coinquora.com 21 November 2021 11:37, UTC
Reading time: ~2 m

Crypto price action sentiments are not yet on a flat tire. This time, one of the major Ethereum-based rivals, Cardano (ADA) seems to be facing a hard time in its price performance. In that sense, does this represent the end-game for Cardano or there is more hope for it in the coming days?

According to a report, Cardano’s native token ADA, has its price dropped by over 40% in the market. The drastic price drop commenced from Cardano’s all-time high (ATH) when it was nearly changing hands for good in terms of price action.

Beginning of its rally of late, several other cryptos have taken ADA’s downtrend as a huge advantage to perform strongly, more and more. Particularly, Solana (SOL) garnered huge momentum and has presently flipped Cardano within the space of the top ten cryptos.

Technically, like how people thought that the launch of Cardano’s much-anticipated smart contract will bring something better, eventually, it seems that it’s just toying around. Many attribute ADA’s underpriced action to some of its pieces of infrastructure that got delayed during the launch. With this, lots of developers can’t release their DApps built on the Cardano blockchain for now.

Meanwhile, on-chain projects such as Solana, Algorand, Elrond are already having DApp support on their network. That said, despite anything that will happen, there is more hope for Cardano to regain its full strength than ever before.


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