Cardano’s hotly anticipated ‘hard fork’ was met with something of a damp squib in Monday’s early deals.
ADA, the tradeable Cardano crypto token, was down 10%, trading around $2.35 dollars in a broadly negative market for the crypto market.
On Sunday evening, the Cardano blockchain was upgraded successfully with a ‘hard fork’ named alonzo. It enables the use of ‘smart contracts’, which provide the basis for an ecosystem of decentralised applications, finance and, most likely, increasingly popular NFTs.
So if this is good news, why did the token drop? Isn’t this growing Cardano ecosystem enough to make buyers happy? Watching the full video to get all the answers!