Disclaimer: The opinions expressed by our writers are their own and do not represent the views of U.Today. The financial and market information provided on U.Today is intended for informational purposes only. U.Today is not liable for any financial losses incurred while trading cryptocurrencies. Conduct your own research by contacting financial experts before making any investment decisions. We believe that all content is accurate as of the date of publication, but certain offers mentioned may no longer be available.
Cardano (ADA) has continued to fall on and off the top 10 list of the most capitalized digital currencies by market cap. It has one of the most unstable price trends as it battles a mix of skepticism among HODLers and a high pace of innovation from its developers. The Cardano price trends show its "Uptober" rally is yet to start.
Cardano fighting against its history
Per data from Cryptorank, Cardano is down by more than 5.7% thus far this October. This figure is a partial deviation from historical trends for the coin. While October is considered a positive month for most altcoins, Cardano has had more downtime than uptime.
Gamza KhanzadaevOf the eight Octobers since 2017, Cardano ended four in the red, with only three positive closes. However, judging by the past year's trends, when it ended the month up 15.4%, the current trend shows Cardano needs to make moves to repeat this bullish milestone.
As of writing time, the price of Cardano was $0.3538, down by 2.3% in 24 hours. The coin is still struggling to reclaim the top 10 positives, with only the 2.22% in the past week serving as its major anchor point.
The current trend proves that Cardano’s biggest challenge is its history, which it needs to live up to.
Beyond price charts
While investors are overly focused on price, Cardano Founder Charles Hoskinson is more innovation-centric. By amplifying technologies that can help Cardano stand out, he believes everyone’s goal will be met in the long run.
Tomiwabold OlajideBesides the Chang hard fork launch last month, which ushered in the Voltaire Era, a series of new upgrades are in the pipeline. One of the latest updates spotlighted by Charles Hoskinson will improve the network's responses to user queries in its smart contracts.
Cardano’s price has yet to pick up steam for October, like its peers.
Alex Dovbnya
Tomiwabold Olajide
Dan Burgin
U.Today Editorial Team
Vladislav Sopov