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Market

ADA lost 50% of ATH, can it reverse next year?

November 28, 2021 - Around 2 mins mins to read

ADA, the central native asset of the newest smart contract platform Cardano, hit $ 1.50 during a month-long freefall.

ADA lost 50 of ATH can it reverse next year

Source: TradingView

ADA has lost 50% since the beginning of September

On September 2, 2021, ADA price hit an all-time high of $ 3.1 before the smart contract functionality was activated. This major upgrade went live in mid-September when the Alonzo hard fork mainnet was activated.

However, the upgrade didn’t spark another uptick for ADA: the asset entered a multi-week “bear market”. On November 26, 2021, it reached its lowest level since the beginning of August.

The most obvious bearish catalyst in the medium term has been criticism of Cardano’s smart contract performance. The viability, speed and functionality of this system have been attacked by both Ethereum (ETH) and Bitcoin (BTC) maximalists.

In the short term, its poor performance was due to eToro, a mainstream derivatives trading platform, delisting ADA. The platform will prevent US clients from opening positions in ADA and TRX starting December 26, 2021 Bitcoin magazine reported.

Another rally in 2022?

Cardano’s creator, Charles Hoskinson, cited the lack of a global regulatory standard in the cryptocurrency and blockchain space as the reason for choosing eToro.

Hoskinson is confident that 2022 will be a glorious year for the Cardano ecosystem. He spoke of the roadmap for the coming year and called it a “burning ecosystem”.

He called Cardano’s technology “rare and hard to find,” claiming it could power “thousands” of products thanks to “so many amazing innovations.”

Join Bitcoin Magazine Telegram to keep track of news and comment on this article: https://t.me/coincunews

Annie

According to U.today

Follow the Youtube Channel | Subscribe to telegram channel | Follow the Facebook page

ADA

ATH

lost

reverse

year

Author

Annie

Championing positive change through finance, I've dedicated over eight years to sustainability and environmental journalism. My passion lies in uncovering companies that make a real difference in the world and guiding investors towards them. My expertise lies in navigating the world of sustainable investing, analyzing ESG (Environmental, Social, and Governance) criteria, and exploring the exciting field of impact investing. "Invest in a better future," I often say. That's the driving force behind my work at Coincu – to empower readers with knowledge and insights to make investment decisions that create a positive impact.
Market

ADA lost 50% of ATH, can it reverse next year?

ADA, the central native asset of the newest smart contract platform Cardano, hit $ 1.50 during a month-long freefall.

ADA lost 50 of ATH can it reverse next year

Source: TradingView

ADA has lost 50% since the beginning of September

On September 2, 2021, ADA price hit an all-time high of $ 3.1 before the smart contract functionality was activated. This major upgrade went live in mid-September when the Alonzo hard fork mainnet was activated.

However, the upgrade didn’t spark another uptick for ADA: the asset entered a multi-week “bear market”. On November 26, 2021, it reached its lowest level since the beginning of August.

The most obvious bearish catalyst in the medium term has been criticism of Cardano’s smart contract performance. The viability, speed and functionality of this system have been attacked by both Ethereum (ETH) and Bitcoin (BTC) maximalists.

In the short term, its poor performance was due to eToro, a mainstream derivatives trading platform, delisting ADA. The platform will prevent US clients from opening positions in ADA and TRX starting December 26, 2021 Bitcoin magazine reported.

Another rally in 2022?

Cardano’s creator, Charles Hoskinson, cited the lack of a global regulatory standard in the cryptocurrency and blockchain space as the reason for choosing eToro.

Hoskinson is confident that 2022 will be a glorious year for the Cardano ecosystem. He spoke of the roadmap for the coming year and called it a “burning ecosystem”.

He called Cardano’s technology “rare and hard to find,” claiming it could power “thousands” of products thanks to “so many amazing innovations.”

Join Bitcoin Magazine Telegram to keep track of news and comment on this article: https://t.me/coincunews

Annie

According to U.today

Follow the Youtube Channel | Subscribe to telegram channel | Follow the Facebook page

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