Cardano
Why Cardano is down 2.7% today
Analysis
Cardano (ADA) fell 2.7% over the past 24 hours despite generally constructive headlines, suggesting the upgrade news wasn’t enough to support near-term demand. U.Today reported a new smart contract release ahead of an intra-era hard fork, but the market still moved lower, indicating the update may have been largely anticipated or overshadowed by broader selling pressure in altcoins.
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.
XRP Vs. ADA Vs. LINK Vs. ETH: Which Alt Is More Undervalued and Has the Biggest Upside?
The conclusion was derived from the 30-day MVRV of each of those altcoins (and bitcoin).
Move Details
Explanation Confidence
Moderate confidence. Multiple factors may be contributing.