The bear attack on the market has been pretty obvious, as demonstrated by a lot of cryptocurrencies who are trading below their price support. Popular coins like Bitcoin [BTC], XRP and Cardano [ADA] have all be affected by this downtrend, with some suffering worse than others.
The price crash has also brought some surprising facts to light. As we approach the anniversary of Bitcoin hitting its all-time high, the comparison with the current prices shows that Cardano is the fourth-biggest loser in the one-year period.
The other three coins above it are Bitconnect, Qtum and ICON, cryptocurrencies that are not considered to be in the big leagues. The research indicates that Cardano is currently trading at a whopping 98% below its all-time high.
At the time of writing, Cardano was trading for $0.0298 while at its peak, it was trading for $1.179. Over the course of 2018, Cardano has been plagued with a lot of issues from within the IOHK Foundations as well as its users. The main complaint that users have with the cryptocurrency is the fact that the network is slow and updates are hard to come by.
IOHK’s Chief Executive Officer and founder, Charles Hoskinson, has also been in the news several times to state that Cardano has a lot of potentials that will allow users to build on it.
Despite the negative impacts, Cardano was given a boost recently when it was announced that Coinbase had decided to add Cardano to the list of 30 upcoming cryptocurrencies on its platform. Coinbase’s blog had stated:
“As we announced in September, Coinbase’s goal is to offer support for all assets that meet our standards and are fully compliant with local law. Over time, we intend to offer our customers access to greater than 90% of all compliant digital assets by market cap.”
The cryptocurrency exchange’s blog further stated:
“Our listing process may result in some of these assets being listed solely for customers to buy and sell, without the ability to send or receive using a local wallet.”
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