Cryptocurrency

Cardano community remains defiant after ADA sinks to 21 month low

“I think I have developed new lows to care about prices, especially ADA.

Chilling may also be a good idea. ”

A number of other commenters have expressed a similar attitude, with one posting stating, “Don’t worry about price.” Another investor said, “Chill in a bear market? Sounds good to me.”

Over the past four weeks, the altcoin market cap has hit the $509 billion mark. It will drop below this zone this week. Further selling would find the next level of support at the $440 billion level.

Altcoin market capitalization
sauce: Crypto Market Cap on TradingView.com (excluding BTC)

Will practicality win?

In February, the cryptocurrency market plunged in response to the outbreak of war in Eastern Europe. At the time, ADA was trading at around $1.30.

Input Output CEO Charles Hoskinson called on interested investors to zoom out and see the big picture.

He said he finds it strange that cryptocurrencies seem to keep pace with stocks. Nevertheless, Cardano’s founder said it’s important not to get caught up in daily price volatility.

Trying to calm frayed nerves, Hoskinson points out that practicality is the engine of long-term success.

“Things will look better five, ten, fifteen years from now if they have real use and utility and real purpose.”

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