In This Post:
- 10% Price Drop Likely: Cardano could dip to $0.32 before bouncing back to $0.39.
- Whale Activity Increases: Big investors are showing confidence in ADA’s future.
- More Active Users: Cardano’s network is getting busier even as the price drops.
Cardano Price Might Drop 10% as Worries Grow
Cardano (ADA) is going through a rough time, and its price could drop by 10%. People are worried because Charles Hoskinson, Cardano’s founder, hasn’t been seen or heard from since August 24. This has made some investors nervous. The delay of the Chang upgrade, now set for September 1, is also adding to the uncertainty.
In the last 24 hours, ADA’s price has fallen by 1.5%, and it might fall further to $0.32 before possibly bouncing back to $0.39. Despite these problems, there are signs that Cardano might recover.
Big Investors Still Believe in Cardano
Even though Hoskinson is missing, there are some good things happening with Cardano. Big investors, known as “whales,” are becoming more active. They’ve been making more large transactions in the last few days, even as ADA’s price has dropped.
Data shows that whales holding $100,000 or more in ADA have been buying more since August 24. This suggests they think ADA’s price will go up in the future. This confidence from big investors is a positive sign for Cardano, even if the price doesn’t show it right now.
More Users Are Active on Cardano’s Network
Another good sign is that more people are using the Cardano network. In the last 24 hours, active addresses jumped by 49%, reaching 36,184. This shows that more people are getting involved with Cardano, even though the price is going down.
However, even though more people are getting involved, they are not trading much. Instead, they might be holding onto their ADA because they’re unsure about the market. Data also shows that more traders are betting that ADA’s price will go down, which explains the cautious behavior.
Looking Forward
Cardano is at an important point. The price could drop by 10% to $0.32 before possibly bouncing back to $0.39. While the founder’s absence and the delayed upgrade are worrying, there are good signs like increased activity from big investors and more people using the network.
For investors, this might be a good time to watch the market closely. If ADA holds its support level and bounces back, those who buy during this dip could see good returns as the market improves.
