The post Cardano Price To Crash by 35%, Keep An Eye Out For These Factors! appeared first on Coinpedia Fintech News

On Thursday, October 6, the eighth largest cryptocurrency by market cap, Cardano (ADA), dipped by 0.46%. However, today, the currency started the day on a positive note as it hit a high of $0.437.

However, the altcoin couldn’t maintain the bullish stance for long and slipped under the captivity of the bears yet again. At the time of writing, Cardano is valued at $0.427, with a plunge of 1.29% over the last 24hrs.

Meanwhile, though Cardano’s Vasil hard fork had promised to improve network stability, the upgrade has failed to gain traction with regard to its staking value.

Cardano’s TVL (Total Value Locked) is currently at $76.66 million as it has slipped by 76.49% from a high of $326 million which it hit in March this year. 

Cardano Price To Drop By 35%?

On the flip side, Cardano’s transaction volume has increased by 51.3%, and the smart contract use has surged by 11% with metadata and 14% without it.