Perhaps one is wondering, why the price of Cardano (ADA) is still moving slowly when the network has entered a new era with the support of smart contracts.
For now, it is said that more than 50 smart contracts have been 'anchored' in Cardano and the number is still increasing.
But why is the ADA price still not showing the expected reaction?
Among those that may affect the ADA price at this time may be due to the sentiment "sell the news" or more accurately described by one of the Twitter users - "buy the testnet, sell the mainnet".
Still, investors need to know that a massive sale doesn’t necessarily happen. Based on a report from Cardano, there is still at least 71% ADA left in staking contracts and the number of staking wallets is around 825,755.
It’s also possible that the ADA price spike would require some time for developers to deploy and test decentralized applications (DApps) before fully airing on Cardano. Indirectly, as more and more transactions take place on the network, where users need Cardano native tokens, it means ADA prices also have the potential to soar higher.
The security factor also needs to be taken seriously by Cardano as many DApps launches will take place soon. A few weeks ago, Cardano launched a bug reward in collaboration with HackerOne to identify network flaws and vulnerabilities. An estimated $ 10,000 was offered to hackers who reported bugs.
The success of Alonzo’s hard fork doesn’t mean Cardano immediately becomes superior, instead there are still a lot of things to be resolved, and resistance before this network competes on par with Solana (SOL) and Ethereum (ETH).
At the time of writing, the ADA is trading at $ 2.40, down nearly 2% in 24 hours. Since its all -time record high (ATH), $ 3.10 on Sept. 2, the asset has recorded a decline of nearly 23%.
