Cardano is at risk of collapsing by 90%

Adam Beck, CEO of Blockstream, has predicted that the price of Cardano ADA $0.40 Cardano -0.84% Market capitalization $14.33 billion VOL. 24 hours $25.72 million could drop by another 90%. This forecast comes after Cardano founder Чарльз Хоскінсон" href="https://noworries.news/biography/charlz-hoskinson/" data-bio-id="10 311">Charles Hoskinson criticized the bitcoin community BTC $65,631.71 Bitcoin -0.67% Market capitalization $1.3 trillion VOL. 24 hours $0.74 billion .

Hoskinson has repeatedly stated that due to the conservatism of developers, Bitcoin risks losing its leadership position if there is no innovation.

However, the market did not support Hoskinson’s optimism. At the time of writing, Cardano holds only 1% of the flagship asset’s market capitalization, down from 10% three years ago. Cardano also dropped to 12th place in the cryptocurrency ranking, behind Dogecoin DOGE $0.02 Department Of Government Efficiency 3.39% Market capitalization $24.62 million VOL. 24 hours $0.2 billion , Tron, and Toncoin TON $1.26 Tokamak Network -2.31% Market capitalization $61.72 million VOL. 24 hours $37.95 million .

Despite the hopes for growth after the introduction of the Chang hard fork update, which Hoskinson called one of the biggest achievements in the project’s history, the ADA price did not show a significant rise.

Earlier, we reported that cryptocurrency market analysts predict a significant increase in the value of the Cardano (ADA) token. It is predicted that the price could rise by a record 2222% in the coming years.

This optimistic forecast is based on several key factors. First of all, Cardano continues to grow rapidly, attracting new investors and developers. The project is constantly innovating, making it attractive to users and businesses. In addition, the growing interest in decentralized financial services (DeFi) and smart contracts is contributing to the demand for ADA.