Sell The News? Cardano Heading Southwards Days After Entering Smart Contracts Era

On Sunday, Cardano deployed the Alonzo upgrade, and with it, sellers showed up. In the peculiar case of buying the rumor and selling the news, Cardano buyers and hodlers alike started their week with a rude shock as ADA’s price shed 9% in value by Monday with losses running since Sunday Evening when Cardano’s much anticipated Alonzo upgrade went live on the mainnet. Over $30M in ADA was also liquidated over the first 24 hours.