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One look at the charts and any crypto investor will see Cardano is currently suffering. The digital asset is currently down with the rest of the market, which is suffering in the wake of the Evergrande situation in China. The market has been in a downtrend as the situation has evolved. Its biggest ties to the market being the fact that Tether allegedly owns some of the Evergrande bonds.<\/p>\n
This has spilled over into the crypto market in a big way. Bitcoin fell to one-month lows with the news and as the altcoins have followed, Cardano has recorded receding prices also. Hitting lows that haven\u2019t been seen since the rally began in August. Current indicators point to the market poised for further decline. But deVere CEO Nigel Green believes that while ADA may be down, it is definitely not out.<\/p>\n
Green explained his reasoning behind Cardano\u2019s hot streak being far from over. The CEO cited the recent technological advancements in the project, namely the recent addition of smart contracts capability to the blockchain. Due to this, Green points out that the digital asset will be setting new all-time highs soon.<\/p>\n
Related Reading |\u00a0Why The Hydra Layer 2 Solution Is Important To The Cardano Network<\/a><\/strong><\/em><\/p>\n