Cardano cryptocurrency dropped by 11% in 3 days

The Cardano cryptocurrency (ADA) has lost more than 11% of its value in 3 days — all due to the recent postponement of the Vasil hard fork.

As it became known, ADA failed to stay above the $ 0.5 level, and at the time of writing, the cryptocurrency is trading at $ 0.4, but experts predict that Cardano will go even lower. Interestingly, earlier crypto analysts predicted an increase in demand for Cardano and, accordingly, an increase in value. The hard fork, dubbed Vasil, was expected to speed up block creation and improve the scalability of the Cardano decentralized application ecosystem, which would ensure interaction between sidechains.

However, at the end of July, it became known that the transition to the Vasil hard fork was postponed for several weeks. According to the developers, more time is needed to test and ensure a smooth process.

In anticipation of the hard fork, cryptocurrency analysts predicted that ADA’s price would rise to $ 0.60. Experts hoped that the altcoin would trade at $ 0.63 by the end of 2022, $ 2.93 by the end of 2025, and $ 6.54 by the end of 2030.