Cryptocurrency Cardano (ADA) is expected to continue its southward trend following a temporary improvement from weekly lows of $1.2833, recorded on Friday, reports stated.
According to an FXStreet report issued on Saturday, the cryptocurrency staged a decent bounce but lost just shy of the $1.40 mark as investors return amid the online attacks on Charles Hoskinson, the founder of Cardano.
Cryptocurrency enthusiasts took a dig at Hoskinson after he retweeted a year-old tweet that highlighted some Cardano-related predictions.
“Ok, so @IOHK_Charles predicted this a year back.
Update: No asset on $ADA, forget 1000’s of DApps not a single dapp on $ADA, only 1-2 projects announced working on $ADA
@IOHK_Charles what happened to your predictions? What’s the prediction for next 1 year now?.” a tweet read.
Ok, so @IOHK_Charles predicted this a year back.
No asset on $ADA, forget 1000's of DApps not a single dapp on $ADA, only 1-2 projects announced working on $ADA@IOHK_Charles what happened to your predictions? What's the prediction for next 1 year now? https://t.co/qreMVlOX1i
— Undervalued Cryptos (@altcoin_bets) July 4, 2021
At the time of reporting, ADA was trading at $1.34, down by 0.1 per cent, with the market cap at $42,802,081,763. Weekly basis, Cardano has dropped 4.3 per cent.
On the other hand, Safemoon showed some improvement in its value on Saturday as the cryptocurrency gained 2.8 per cent during a 24-hour basis to hit the $0.00000287 mark with its market cap at $1,671,689,194.
Safemoon has maintained its downward movement since the beginning of the month. The cryptocurrency showed some improvements between July 6 and 7, where it hit $0.00000310 and $0.00000312 levels, respectively, but it failed to regain its momentum post these two days.