Greetings,
So, hurray, the Alonzo fork has gone in successfully bringing smart contracts to Cardano for the first time. Now Cardano is a full fledged, and cheaper, alternative to Ethereum.
Following all this great news, naturally, the price tanked by 5%. What?! Of course, that's to be expected. Profit taking a la "buy the rumour sell the news", duh. Also, Bitcoin threw a little fit during the same period so, the bots threw the same fit everywhere.
Once the noise settles though, I think we're going to see a nice bullish move, especially when projects start to migrate, or at least port, to Cardano from Ethereum, to take advantage of the lower prices.
Cardano is a get rich slow scheme though. I don't think we're going to see any fireworks, just a gradual escalating price.
NFA though, so DYOR.
Ade.
