ADA boasted an inflated market cap through last year. There was no real justification for its value, because there was no true working product - or at least something which was on the verge of mass adoption. It was pure speculation of what 'might' be and not grounded in anything but hope.
So, ADA has been flying high for a long time and was way too close to the sun when it hit $3.10 a coin. It is a well overvalued project and anyone suggesting it will return to its ATH in the near future is creating false hope founded in the same fictional claims.
At best, I see ADA hitting the approximate $0.45 mark. However, considering where the project was valued this time last year and no real changes since then in terms of tech, ADA still has a long way to tumble. Don't mistake the most recent pump as anything other than squeezing the last little bit out of the coin, before its demise.
The market is down and ADA is going to continue to decline until the time the true leaders in the field begin recovery.
So, ADA has been flying high for a long time and was way too close to the sun when it hit $3.10 a coin. It is a well overvalued project and anyone suggesting it will return to its ATH in the near future is creating false hope founded in the same fictional claims.
At best, I see ADA hitting the approximate $0.45 mark. However, considering where the project was valued this time last year and no real changes since then in terms of tech, ADA still has a long way to tumble. Don't mistake the most recent pump as anything other than squeezing the last little bit out of the coin, before its demise.
The market is down and ADA is going to continue to decline until the time the true leaders in the field begin recovery.