Cardano (ADA) experienced one of the most significant changes in 2022 on February 14, 2022. So, will it be enough to stop the multi-month price drop?
Cardano network is updating, but price dropped below $1
According to Input Output Global, a software developer team behind Cardano development, the newest upgrade to Cardano’s codebase is now live. cryptocoin.com As we reported, every Plutus script (Cardano-specific software program for applications) can now use 12% more of Cardano’s (ADA) processing power. Additionally, the block size of the network has also reached 80 kilobytes, according to Cardano architectural director John Alan Woods.
Simultaneously, the Cardano (ADA) price is falling to its lowest level since mid-February 2021. On various spot exchanges, ADA is currently trading at $0.98, the lowest price since February 23, 2021. As a result, the ADA price has lost almost 66% from its ATH level of $3 in September 2021.
Finder panelists predicted ADA price for years to come
Despite this significant decline for months, many experts remain optimistic about Cardano’s long-term prospects. Research and survey firm Finder hosted a panel to analyze professional opinions on Cardano (ADA).
ADA price is poised for a 58x increase, according to Finder panel participants (crypto-entrepreneurs, analysts, influencers, academics, advisors, etc.). Other results revealed that analysts were 50% less optimistic than now in their Cardano (ADA) forecasts in July 2021, predicting a 28-fold increase over eight years.
Experts pointed out some problems in the Cardano network
Issues put forward by experts included dApp vulnerabilities and the UK’s ADA ban. It should also be remembered that despite being called the “Ethereum Killer”, Cardano lags behind Vitalik Buterin-led Ethereum in terms of development and has been harshly criticized for its poor speed in releasing important updates. On this issue, NDAX CEO Bilal Hammoud states, “ADA is one of the least appreciated altcoin projects, and once smart contract and DeFi solidify, we may see many projects migrate to this network.”
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