It has been surprising to many Cardano lovers why Cardano has dipped more than 50% from its all-time high of $3.10, especially after the activation of its smart contract functionality. As of the time of this post, it is at $1.50 and seems to be heading down to cents.
Below are two possible reasons why Cardano may be struggling.
The Smart Contract Criticism by Ethereum and Bitcoin maximalists.
Cardano founder, Charles Hoskinson has always boosted that Cardano Smart Contract will be a big blow to Ethereum, but the viability, speed, and functionality of the newly launch smart contract system has become a subject of criticism by Ethereum and Bitcoin Maximalists. The Cardano Smart contract since integration has not attracted any project due to these criticisms surrounding it which has reduced the FOMO around the project.
The second reason is the news that Cardano and Tron will be delisted by etoro.
When etoro, the world-leading trading platform announced that they are going to delist Cardano and Tron for the US customers, there were observed huge sales. Most of the US customers after sensing that the news will drag the price of Cardano down started selling off their ADA and Tron.
Despite all these factors, there are still speculations that Cardano will still live to its expectations come 2022. Founder Charles Hoskinson after slamming etoro for their action said that the 2022 roadmap for Cardano will take ADA to a new all-time high. In his term, he described the 2022 roadmap as " a living ecosystem".
