Cardano (ADA) looks to be seeing a slow-moving bullish resurgence in its price at the time of writing, after posting losses for the majority of the week. According to statistics from CoinMarketCap, the price of ADA has increased by a negligible 0.78% in the last day to $0.4176.
Cardano is no stranger to bullish price rises, and despite the general doom in the sector, which has seen the total market value of cryptocurrencies fall by more than 4% for the week, it is possible that ADA will record a single upside. Cardano hasn’t demonstrated the tenacity or met some of the forecasts from market leaders so far this week.
Herein lies the main obstacle to Cardano’s impending bullish recovery, and that is hostile behaviour from important HODLers of the digital currency. Any impending postponement of some of Input Output Global’s expansion ambitions would represent another long-term obstacle (IOG).
Dangers of playing more than second fiddle
Ethereum is still seen as the biggest blockchain technology in the competition to be the most robust and versatile Layer 1 smart contract enabler. Cardano is regarded as the next in line because of the technological prowess and constancy of its developments and improvements.
Yet, Cardano’s sluggish development in comparison to other rival chains poses a serious danger to the protocol’s long-term goals. Even though the majority of blockchain protocols are still developing and innovating, anything that performs worse than Ethereum on all visible criteria will not support Cardano’s long-term growth.
