{"id":522511,"date":"2023-03-10T04:05:07","date_gmt":"2023-03-10T04:05:07","guid":{"rendered":"https:\/\/wncen.com\/?p=522511"},"modified":"2023-03-10T04:05:07","modified_gmt":"2023-03-10T04:05:07","slug":"cardano-sheds-23-in-value","status":"publish","type":"post","link":"https:\/\/wncen.com\/news\/cardano-sheds-23-in-value\/","title":{"rendered":"Cardano Sheds 23% In Value As ADA Woes Pile Up – Here’s Why"},"content":{"rendered":"
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Cardano has found itself on rough terrain anew in the past few weeks, and barely able to hit its target, thus giving proponents and investors in the crypto some headaches.<\/p>\n

As a result of recent profit taking by intermediate-term investors, its value has fallen by 22% in the past 21 days. As a result, it has been one of the market’s worst-performing assets. There has been an 12% drop<\/a> in price over the past week, with current trading at $0.3075.<\/p>\n

Related Reading: Shiba Inu Is The Crypto Of Choice By Top 100 Ethereum Whales \u2013 Here\u2019s Why<\/a><\/div>\n

\"\"<\/h2>\n

Will Cardano (ADA) Retreat Further?<\/strong><\/h2>\n

Indications coming from the broader cryptoverse suggest that ADA price may retreat even farther in the near future. Bears have so far succeeded in using their long claws and dominate the market as of late, and a 7.5% decline can happen within the next two weeks.<\/p>\n

ADA’s decline in price has resulted in a drop in its market valuation which, based on latest data by Coingecko, sits around $11.2 billion. In the monthly timeframe, ADA lost 23%<\/a> of its value, which is nearly 4% more than its bi-weekly figure.<\/p>\n<\/div>\n

\"\"<\/p>\n

\n

Cardano’s price drop can be linked to the ongoing selling pressure from the intermediate-term investors who have found it quite a challenge to bet into the asset’s recent upward motion. Profitability has dropped by about 10% as a result of the lack of speculative value.<\/p>\n

Some experts are still very upbeat about Cardano’s prospects, despite its recent setbacks. Despite being out of step with current market trends, its fundamentals are solid.<\/p>\n

ADA: See-Sawing Between Support & Resistance<\/strong><\/h2>\n

Charles Hoskinson<\/a> designed the native token for Cardano, and since August 2021, when it peaked at $3.160, it has been steadily declining in value. It hit a record low of $0.239 in December of 2022.<\/p>\n

The price of Cardano has been see-sawing between support and resistance at $0.4005 since the start of the year. And, as it stands, the future price path for the crypto asset may all depend on whether ADA can really pull off a major rally or falter.<\/p>\n

For its part, Bitcoin floundered near the $21,000 support zone. Bitcoin’s retest of this region of support should have elicited a more robust positive reaction than what was shown in the preceding hours.<\/p>\n

This may be an early indication that a wave of selling could once again spread across the cryptocurrency market. Cardano, just like the rest of the major cryptos, has a strong correlation with the price movement of Bitcoin.<\/p>\n

<\/strong><\/p>\n

ADA currently has a market cap of $10.7 billion on the daily chart | Chart: TradingView.com<\/a><\/pre>\n
Related Reading: Stacks (STX) Crumbles 36% After Weeks Of Rally<\/a><\/div>\n
Strong Foundations Despite Challenges<\/strong><\/h3>\n
As some market observers are pessimistic about Cardano’s future, it still has solid foundations. The future movement may be heavily influenced by whether or not it is able to retake the $0.400 long-term resistance area.<\/p>\n
Meanwhile, a recent internet dispute<\/a> that has erupted between Cardano developer Charles Hoskinson and a Reddit user with the handle Demesisx may have been one of the triggers for the collapse in price of ADA.<\/p>\n
In an open letter, the Reddit user accused Hoskinson of having close ties to alt-right figures such as billionaire Elon Musk and Jordan Peterson.<\/p>\n
Hoskinson pushed back, escalating the debate into a huge dispute that may negatively effect the token’s value.<\/p>\n
-Featured image from God TV<\/em><\/p>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n","protected":false},"excerpt":{"rendered":"
Cardano has found itself on rough terrain anew in the past few weeks, and barely able to hit its target, thus giving proponents and investors in the crypto some headaches. As a result of recent profit taking by intermediate-term investors, its value has fallen by 22% in the past 21 days. As a result, it has been one of the market’s worst-performing assets. There has been an 12% drop in price over the past week, with current trading at $0.3075. Related Reading: Shiba Inu Is The Crypto Of Choice By Top 100 Ethereum Whales \u2013 Here\u2019s Why Will Cardano (ADA) Retreat Further? Indications coming from the broader cryptoverse suggest that ADA price may retreat even farther in the near future. Bears have so far succeeded in using their long claws and dominate the market as of late, and a 7.5% decline can happen within the next two weeks. ADA’s decline in price has resulted in a drop in its market valuation which, based on latest data by Coingecko, sits around $11.2 billion. In the monthly timeframe, ADA lost 23% of its value, which is nearly 4% more than its bi-weekly figure. Cardano’s price drop can be linked to the ongoing selling pressure from the intermediate-term investors who have found it quite a challenge to bet into the asset’s recent upward motion. Profitability has dropped by about 10% as a result of the lack of speculative value. Some experts are still very upbeat about Cardano’s prospects, despite its recent setbacks. Despite being out of step with current market trends, its fundamentals are solid. ADA: See-Sawing Between Support & Resistance Charles Hoskinson designed the native token for Cardano, and since August 2021, when it peaked at $3.160, it has been steadily declining in value. It hit a record low of $0.239 in December of 2022. The price of Cardano has been see-sawing between support and resistance at $0.4005 since the start of the year. And, as it stands, the future price path for the crypto asset may all depend on whether ADA can really pull off a major rally or falter. For its part, Bitcoin floundered near the $21,000 support zone. Bitcoin’s retest of this region of support should have elicited a more robust positive reaction than what was shown in the preceding hours. This may be an early indication that a wave of selling could once again spread across the cryptocurrency market. Cardano, just like the rest of the major cryptos, has a strong correlation with the price movement of Bitcoin. ADA currently has a market cap of $10.7 billion on the daily chart | Chart: TradingView.com Related Reading: Stacks (STX) Crumbles 36% After Weeks Of Rally Strong Foundations Despite Challenges As some market observers are pessimistic about Cardano’s future, it still has solid foundations. The future movement may be heavily influenced by whether or not it is able to retake the $0.400 long-term resistance area. Meanwhile, a recent internet dispute that has erupted between Cardano developer Charles Hoskinson and a Reddit user with the handle Demesisx may have been one of the triggers for the collapse in price of ADA. In an open letter, the Reddit user accused Hoskinson of having close ties to alt-right figures such as billionaire Elon Musk and Jordan Peterson. Hoskinson pushed back, escalating the debate into a huge dispute that may negatively effect the token’s value. -Featured image from God TV<\/p>\n","protected":false},"author":557,"featured_media":522568,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[3],"tags":[12333,12332,1286,6664],"class_list":["post-522511","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news","tag-ada","tag-cardano","tag-charles-hoskinson","tag-crypto"],"acf":[],"yoast_head":"\nCardano Sheds 23% In Value As ADA Woes Pile Up - Here's Why<\/title>\n<meta name=\"description\" content=\"Cardano has found itself on rough terrain anew in the past few weeks, and barely able to hit its target, thus giving proponents and investors in the\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/wncen.com\/news\/cardano-sheds-23-in-value\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Cardano Sheds 23% In Value As ADA Woes Pile Up - 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But for Christian, that's not just a metaphor, it's a lifestyle. By day, he navigates the ever-shifting tides of the cryptocurrency market, wielding words like a seasoned editor and crafting articles that decipher the jargon for the masses. When the PC goes on hibernate mode, however, his pursuits take a more mechanical (and sometimes philosophical) turn. Christian's journey with the written word began long before the age of Bitcoin. In the hallowed halls of academia, he honed his craft as a feature writer for his college paper. This early love for storytelling paved the way for a successful stint as an editor at a data engineering firm, where his first-month essay win funded a months-long supply of doggie and kitty treats \u2013 a testament to his dedication to his furry companions (more on that later). Christian then roamed the world of journalism, working at newspapers in Canada and even South Korea. He finally settled down at a local news giant in his hometown in the Philippines for a decade, becoming a total news junkie. But then, something new caught his eye: cryptocurrency. It was like a treasure hunt mixed with storytelling - right up his alley! So, he landed a killer gig at NewsBTC, where he's one of the go-to guys for all things crypto. He breaks down this confusing stuff into bite-sized pieces, making it easy for anyone to understand (he salutes his management team for teaching him this skill). Think Christian's all work and no play? Not a chance! When he's not at his computer, you'll find him indulging his passion for motorbikes. A true gearhead, Christian loves tinkering with his bike and savoring the joy of the open road on his 320-cc Yamaha R3. Once a speed demon who hit 120mph (a feat he vowed never to repeat), he now prefers leisurely rides along the coast, enjoying the wind in his thinning hair. Speaking of chill, Christian's got a crew of furry friends waiting for him at home. Two cats and a dog. He swears cats are way smarter than dogs (sorry, Grizzly), but he adores them all anyway. Apparently, watching his pets just chillin\u2019 helps him analyze and write meticulously formatted articles even better. Here's the thing about this guy: He works a lot, but he keeps himself fueled by enough coffee to make it through the day - and some seriously delicious (Filipino) food. He says a delectable meal is the secret ingredient to a killer article. And after a long day of crypto crusading, he unwinds with some rum (mixed with milk) while watching slapstick movies. Looking ahead, Christian sees a bright future with NewsBTC. He says he sees himself privileged to be part of an awesome organization, sharing his expertise and passion with a community he values, and fellow editors - and bosses - he deeply respects. So, the next time you tread into the world of cryptocurrency, remember the man behind the words \u2013 the crypto crusader, the grease monkey, and the feline philosopher, all rolled into one.","sameAs":["jomarjet01"],"url":"https:\/\/wncen.com\/author\/jomarjet01\/"}]}},"parsely":{"version":"1.1.0","meta":{"@context":"https:\/\/schema.org","@type":"NewsArticle","headline":"Cardano Sheds 23% In Value As ADA Woes Pile Up – Here’s Why","url":"http:\/\/wncen.com\/news\/cardano-sheds-23-in-value\/","mainEntityOfPage":{"@type":"WebPage","@id":"http:\/\/wncen.com\/news\/cardano-sheds-23-in-value\/"},"thumbnailUrl":"https:\/\/wncen.com\/wp-content\/uploads\/2023\/03\/a-24.png?resize=200%2C200","image":{"@type":"ImageObject","url":"https:\/\/wncen.com\/wp-content\/uploads\/2023\/03\/a-24.png?fit=763%2C511"},"articleSection":"Cryptocurrency Market News","author":[{"@type":"Person","name":"Christian Encila"}],"creator":["Christian Encila"],"publisher":{"@type":"Organization","name":"NewsBTC","logo":"https:\/\/wncen.com\/wp-content\/uploads\/2020\/06\/cropped-cropped-cropped-favicon.png?w=32"},"keywords":["ada","cardano","charles hoskinson","crypto"],"dateCreated":"2023-03-10T04:05:07Z","datePublished":"2023-03-10T04:05:07Z","dateModified":"2023-03-10T04:05:07Z"},"rendered":"<script type=\"application\/ld+json\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@type\":\"NewsArticle\",\"headline\":\"Cardano Sheds 23% In Value As ADA Woes Pile Up – Here’s Why\",\"url\":\"http:\\\/\\\/wncen.com\\\/news\\\/cardano-sheds-23-in-value\\\/\",\"mainEntityOfPage\":{\"@type\":\"WebPage\",\"@id\":\"http:\\\/\\\/wncen.com\\\/news\\\/cardano-sheds-23-in-value\\\/\"},\"thumbnailUrl\":\"https:\\\/\\\/wncen.com\\\/wp-content\\\/uploads\\\/2023\\\/03\\\/a-24.png?resize=200%2C200\",\"image\":{\"@type\":\"ImageObject\",\"url\":\"https:\\\/\\\/wncen.com\\\/wp-content\\\/uploads\\\/2023\\\/03\\\/a-24.png?fit=763%2C511\"},\"articleSection\":\"Cryptocurrency Market News\",\"author\":[{\"@type\":\"Person\",\"name\":\"Christian Encila\"}],\"creator\":[\"Christian Encila\"],\"publisher\":{\"@type\":\"Organization\",\"name\":\"NewsBTC\",\"logo\":\"https:\\\/\\\/wncen.com\\\/wp-content\\\/uploads\\\/2020\\\/06\\\/cropped-cropped-cropped-favicon.png?w=32\"},\"keywords\":[\"ada\",\"cardano\",\"charles hoskinson\",\"crypto\"],\"dateCreated\":\"2023-03-10T04:05:07Z\",\"datePublished\":\"2023-03-10T04:05:07Z\",\"dateModified\":\"2023-03-10T04:05:07Z\"}<\/script>","tracker_url":"https:\/\/cdn.parsely.com\/keys\/wncen.com\/p.js"},"jetpack_sharing_enabled":true,"jetpack_featured_media_url":"https:\/\/wncen.com\/wp-content\/uploads\/2023\/03\/a-24.png?fit=763%2C511","amp_enabled":true,"_links":{"self":[{"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/posts\/522511"}],"collection":[{"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/users\/557"}],"replies":[{"embeddable":true,"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/comments?post=522511"}],"version-history":[{"count":0,"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/posts\/522511\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/media\/522568"}],"wp:attachment":[{"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/media?parent=522511"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/categories?post=522511"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/tags?post=522511"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}