Cardano: Expert warns of 90% drop

The Cardano blockchain recently received a major upgrade, known as the “Chang upgrade,” which was successfully implemented and represents a step forward for the network. However, even with this technical achievement, the question remains: is Cardano truly on the path to success, or could the price of the ADA token collapse by up to 90% at any moment?

Charles Hoskinson, founder of Cardano, recently announced that the network has entered the so-called “Bootstrap” phase, marked by the implementation of new governance structures essential for the decentralization of the blockchain, ensuring that decisions are made collectively by the community, and not centralized in a single authority.

Charles Hoskinson has repeatedly criticized the resistance to innovation in the Bitcoin community, predicting that Cardano could, in the long term, surpass market giants such as Bitcoin and Ethereum. Currently, however, Cardano only has about 1% of Bitcoin’s market cap and has dropped out of the top 10 cryptocurrencies, now sitting at 11th place.

As such, Cardano finds itself at a critical juncture. While technical developments and moves towards decentralization are positive, uncertainty about the long-term stability and market position of the ADA token persists.

The coming months will be decisive in determining whether Cardano can deliver on its promises or whether the most pessimistic predictions will come true and the token’s price will collapse.

Source: Investing.com