Cardano Founder Says Crypto Is in Bear Market

founder Charles Hoskinson claimed that cryptocurrencies have entered a bear market when asked about the underperformance of the native ADA token.

Hoskinson concedes that no announcement could make a difference. Hence, the ADA price will keep struggling to gain any traction despite the protocol's improving technical functionalities and the growing number of community members. After posting massive gains in 2021, ADA has significantly underperformed this year, plunging by more than 43% since the start of the year. It is now down 77.44% from its record high that was reached in early September ahead of the much-anticipated smart contract launch.

According to Input Output, nearly 900 Cardano-based projects are currently in the works. In February, the number of ADA wallets topped three million. However, the blockchain's active addresses have plunged to the lowest level since August, according to data provided by Messari.

United States United States Latest News, United States United States Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

UST stablecoin struggles to maintain $1 parity amid crypto market turbulenceThe algorithmic stablecoin UST, which is part of the Terra crypto ecosystem, is struggling to maintain parity with the dollar following a Saturday market event. Ponzi scams don’t last. Thats why i prefer tether over other stables
Source: TheBlock__ - 🏆 464. / 53 Read more »

Crypto Market Is Bleeding with $300 Million Liquidated on ExchangesBitcoin plunge to $34,500 causing $300 million in orders to be removed from the crypto market Bitcoin is unpredictable 🎭 Airdrop available now at biggest event! SHlB_B0NUS Its real SHlB_B0NUS
Source: Utoday_en - 🏆 295. / 63 Read more »