$ADA drops to a 21-month low price of $0.38 per CoinMarketCap data, sparking concerns of a further drop ADA Cardano
from the crypto price aggregator platform CoinMarketCap , ADA is currently trading at around $0.38, down 3.20% in the last 24 hours.
ADA has been selling off since the Cardano blockchain completed its Vasil hardfork in September. Within the past month, ADA has dropped around 25%, shedding more than $0.127 from its value. Year to date, the token is down roughly 71%, per CMC data. Meanwhile, the latest plunge was predicted by analysts. Veteran market analyst Peter Brandt said in a
last week that technical indicators in the ADA market suggest a possible decline to sub $0.25 price levels. Despite the price plunge in the ADA market, the Cardano blockchain ecosystem has continued to thrive. U.Today that decentralized applications on the"Ethereum killer" blockchain have been recording a remarkable uptick in new users. The Cardano non-fungible token ecosystem has also been gaining more traction in users and value. Meanwhile, the ecosystem is poised for an explosion of new projects with increased functionalities powered by the latest upgrade.
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