Cardano
Why Cardano is down 3.3% today
Analysis
Cardano (ADA) fell 3.3% over the past 24 hours as traders weighed near-term uncertainty around upcoming network changes, despite a newly released smart contract update ahead of an intra-era hard fork, which can prompt “sell-the-news” or risk-off positioning around upgrades. ADA sentiment was also likely pressured by a Coinbase-related service/outage announcement affecting ADA and other altcoins, which can disrupt trading access and liquidity in the short term.
Contributing Factors (2)
Cardano Welcomes New Smart Contract Release Ahead of Intra-Era Hard Fork
Cardano's intra-era hard fork to protocol version 11 introduces targeted improvements across Plutus performance, ledger consistency and node-level security.
Important Coinbase Announcement Concerning XRP, ADA, and Other Altcoin Investors
"Borrowing up to $100K in USDC against your tokens, instantly, without selling," the announcement reads.
Move Details
Explanation Confidence
Moderate confidence. Multiple factors may be contributing.