Cardano's price performance in 2024 has disappointed ADA holders.
Max Maher discusses the reasons and solutions to this disappointment.
Maher's solution is surprisingly simple.
In 2024, the cryptocurrency market came to life with the advent of the bitcoin-ETF. #BTC skyrocketed and many #altcoins followed suit, but #Cardano seems to have missed out. While other cryptocurrencies were on the rise, #ADA holders were perplexed as to why their favorite project was under threat.
While the Cardano community was suffering from falling prices, fingers were pointing in different directions. Marketing shortcomings were popular scapegoats, and many blamed ADA's failures on a lack of promotion. However, as the final quarter of 2024 approached, influencer Max Maher stepped in, offering a fresh perspective on how to turn the tide of ADA's failure.
As 2024 approached, Cardano's price performance became increasingly painful for its loyal holders: in March, ADA rose 60% to $0.80, just as other cryptocurrency markets surged with the bitcoin-ETF dotcom effect. Since then, however, things have gone downhill.
To understand the disappointing results of ADA, many blame the lack of marketing efforts: a survey conducted by Rick McCracken, the manager of the DIGI betting pool, showed that 68% of respondents consider the marketing of Cardano weak compared to other major projects.
If you dig deeper, McCracken's survey revealed other concerns of Cardano followers. The lack of a major stable U. S. dollar and poor integration with the broader crypto ecosystem were cited as other potential reasons for the weak ADA price performance.
SnEK member Maher spoke out on the matter in a recent post, adding that Cardano's problems could also be attributed to a lack of
"narrative momentum
" compared to the #BTC spot ETF and Solana memcoin craze.
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