Cardano (ADA) No Need to Panic Just Watch the Cryptocurrency Price Trends Evolve After Covid-19 Panic SubsidesMarch 16, 2020
If Cardano (ADA) is looked at like any other project, there will be some naivety associated with the perception, Cardano is different from several other projects in many ways particularly in terms of the core technology. Cardano has some proven hardcore engineering behind it.
With the Coronavirus (Covid-19) , things seem to be different, and they are sending a lot of stay at home warnings. Even during this time period, development works are underway with Cardano. They are not changing their strategy, and they continue to work on delivering an efficient social and financial operating system.
With the price getting confusing than ever before, Cardano warned that there is no need to panic. They assure that the mission of Cardano will be the same and that COVID-19 has created a general panic and that there will be no change in the mission.
The markets are falling, and the price of the cryptocurrency is falling down as well. The Cardano team is very clear that the current fall in prices will not put an end to the Cardano Mission. The industry is panic-struck, and institutions are simply selling out whatever they have. The current scenario is just indicative that there needs to be a decentralized and free financial system built into place.
Sydney Ifergan, the crypto expert, tweeted: “As the Cardano (ADA) team states, there will be a sure need for decentralized cryptocurrencies when the traditional financial systems fail. This has not occurred yet, not the scenario is just about generalized panic accompanied by frenzied buying and selling.”
Cardano (ADA) and Emurgo Busy Working on Cardano
The institutions are coming forward and selling everything that they have, and the prices are falling. Cardano is around here to avoid similar things happening in the future.
IOHK, the Cardano Foundation, published that they and the Emurgo are still busy working on the Cardano protocol. Further stated, the team will soon be deploying a decentralized network. They further clarified, saying that the cryptocurrency market is not completely rational and that everything about the market is big speculation. It has also been stated that the usability and the fundamentals are not valued.
Several facets of the cryptocurrency market are indeed manipulated and influenced by whales, institutional money, and manipulation.
The current panic will sure lead to the financial crisis, but everything will fall back in to place. The adoption factor for cryptocurrency was not good so far; however, things will change post-crisis, and cryptocurrency will establish its status as a store of value.