Sell the news? ADA price drops 10% following Cardano’s long-awaited smart contracts rollout
Cointelegraph
Published Sep 13, 2021 07:45AM ET
Updated Sep 13, 2021 09:20AM ET
The price of Cardano (ADA) fell on Monday in line with the other top cryptocurrencies despite the completion of its hard fork upgrade dubbed “Alonzo,” which introduced smart contract functionality.
The ADA/USD exchange rate dropped 10.67% to reach its intraday low of $2.30, partly due to profit-taking sentiment among traders following the pair’s 1,200%-plus price rally this year. Additionally, the intraday sell-off also surfaced in the period of an overall crypto market decline, with top tokens Bitcoin (BTC) and Ether (ETH) falling 4% and 6.97%, respectively.
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Written By: Cointelegraph
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