The third cryptocurrency has already lost 5% over the last day and more than 15% for a week.
From the high above $ 3, Cardano lost about 22%.
Alonzo's long-awaited hard fork has finally happened and heralds a new milestone in the development of the Cardano network. Now you can create and deploy smart contracts.
However, the project team warned that the development is not complete and various bugs are possible, do not expect great opportunities to appear now. This statement is quite logical and will help protect developers from possible claims if the hard fork did not work.
In such decentralized blockchains with unlimited access, problems are inevitable. This update has raised investors' expectations and such an attitude towards the project may turn into disappointment. Experts point out that it is worth lowering some expectations.
The first release of Cardano took place in September 2017. The project was conceived by Ethereum co-founder Charles Hoskinson, a competitor to the original platform with a focus on academic research, but without smart contracts, such competition was impossible.
The new growth cycle of Cardano may be associated with the next stage in the development of the ecosystem. If the project continues to develop according to the roadmap, then, while maintaining the current demand and a positive situation in the crypto market, by the end of the year ADA may approach the level of $ 5.
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