Cardano ADA Slumps 93% Below Historic Peak Despite Upgrade Hopes
Cardano (ADA) has been trading far below its historic peak for over five years. The cryptocurrency reached an all-time high of $3.09 on September 2, 2021, just before the Alonzo upgrade was activated, which introduced native smart contract functionality through the Plutus platform on September 12, 2021.
At its current price of around $0.21, ADA is approximately 93.19% below its record high. A significant surge of roughly 1,371% would be needed for Cardano to return to its previous all-time high.
While ADA has experienced several rallies since 2021, none have come close to challenging the previous record. Attention is now turning to Cardano's next phase of development as it celebrates the anniversary of its network launch on September 23, marking the genesis block minted in 2017.