On February 2021 the price was 66X higher, 1.20 usd.
What made it so valuable during this period to worth $47,009,620,036???
Just to make an idea, CRISPR Therapeutics AG , a gene editing company, focusing on developing transformative gene-based medicines for serious human diseases worth 10Bil. Almost 5 times less than ADA.
Or Oshkosh Corporation who won the 6Bil usd contract with USPS has a market cap of 7.9Bil.
Cardano could buy 6 of those EV producers!
Who is manipulating the price?
And who is selling that massive, as you could see on the chart, that makes the price almost 10X cheaper in one day?!
Is that the real value?
During March 2020 and February 2021 Covid happened. And people stayed at home and didn`t spent their money on restaurants, holidays or cinemas. And they were easily manipulated on social media.
That`s the real fundamentals that ADA had in that period.
I am looking forward for your opinions!
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I’m not saying the price won’t drop (heavily) at some point but in what world does a cryptocurrency that could (arguably) tackle ethereum get called out for manipulation. I mean ADA has learnt so much from the failings of ETH and was built by the cofounder of ETH Charles Hoskinson. ETH is worth 1500 (recently 2000) dollars a coin and has astronomical gas fees and less transaction capability.
If your looking at fundamentals ADA should be much higher than it is now.
Plus it’s crypto - it’s a mad space - new coins jump 1000s of percent over their first few days - it’s not manipulation it’s price action
Every evolutionary change levels the masses in the dust do to the ridged human minds résistance to change.