The Cardano (ADA) ecosystem has undergone several changes over the past week. The network underwent the much-awaited Chang hard fork, which brought about changes in the market. Despite this, ADA went on to slip from the coveted top ten.
Cardano’s market cap dropped to a low of $11.74 billion, pushing it down to the 11th spot. It was overtaken by Toncoin (TON), whose market value was $11. 93 billion.
Also Read: How High Can Shiba Inu Surge If Global Market Cap Reaches $5 Trillion?
As seen in the above image, ADA traded at $0.3263, at press time. This comes after a daily increase of 2.51%, followed by a 9.86% downfall throughout the week. Cardano will stay out of the top 10 longer than expected.
Also Read: Fed Flags Texas Bank’s Crypto Deficiencies: Impact on Coinbase and ETF Issuers
Cardano Weekend Price Prediction
According to data from Changelly, Cardano will reportedly have a bearish weekend. The asset will mostly dip by around 1-4%. The altcoin will end the week at $0.305286, marking a 4.57% drop from its current price level. On Saturday, September 7, 2024, ADA will trade around $0.311806 and the asset will close the weekend at $0.314812.
The Cardano market is filled with increased bearish notions. In addition to the above forecast, well-known Bitcoin advocate Adam Back said that the value of ADA, the native currency of the Cardano ecosystem, may drop by an additional 90%.
The main catalyst around ADA was the Chang hard fork. This did not cause the cryptocurrency’s price to rise much. Hoskinson hailed it as one of the most significant milestones for the network, but this is still the case.
Also Read: How High Will Dogecoin (DOGE) Trade 5 Years From Now?
As a result, the asset might have trouble getting back into the top 10.