Cardano investors should know this reason behind ADA’s 14% freefall

<div id="mvp-content-main"> <p><span><a href="https://ambcrypto.com/?s=Cardano" data-wpel-link="internal">Cardano [ADA]</a> developer Adam Dean recently took to </span><span>Twitter</span><span> to voice his grievances related to certain development issues that the altcoin is facing. </span></p> <p><span>As per his tweet dated 18 August, the developer blames a &ldquo;bug&rdquo; that &ldquo;catastrophically&rdquo; broke the Cardano network. </span></p> <p><span>The network version that was supposed to be &ldquo;tested and ready&rdquo; for the hard fork was affected. </span></p> <p><span>Adam further pointed out developers rushing to upgrade on the mainnet as </span><span>one of the reasons for the network crash.&nbsp;</span></p> <p lang="en" dir="ltr">&#129525; (1/n) It's important to point out today that the <a href="https://twitter.com/hashtag/Cardano?src=hash&amp;ref_src=twsrc%5Etfw" data-wpel-link="external" target="_blank" rel="nofollow external noopener noreferrer">#Cardano</a> <a href="https://twitter.com/hashtag/Testnet?src=hash&amp;ref_src=twsrc%5Etfw" data-wpel-link="external" target="_blank" rel="nofollow external noopener noreferrer">#Testnet</a> is **catastrophically** broken due to a bug in Cardano Node v 1.35.2. This was the version that we had previously been told was "Tested and Ready" for the Vasil Hardfork. This bug was only discovered&hellip;</p> <p>&mdash; Adam Dean (@adamKDean) <a href="https://twitter.com/adamKDean/status/1560295448333520896?ref_src=twsrc%5Etfw" data-wpel-link="external" target="_blank" rel="nofollow external noopener noreferrer">August 18, 2022</a></p> <h3><b>Where is ADA now?&nbsp;</b></h3> <p>The testnet remains dysfunctional despite the detection of the issue in the chain. And the chain is dysfunctional since most operators <span>updated to v1.35.2 in order to mimic the Vasil hardfork combinator (HFC) event. </span></p> <p><span>Furthermore, </span><span>the current version (v1.35.3) is now incompatible and incapable of syncing with the chain. This issue could result in another delay in the Vasil hardfork announcement. </span></p> <p><span>However, this may not be the only major red flag for the Cardano community as metrics too paint a gloomy picture for the altcoin.</span></p> <h3>It&rsquo;s time to move on?</h3> <p>In addition to the aforementioned information, ADA&rsquo;s market cap seems to be a major red flag at the moment. As of 18 August, ADA&rsquo;s <a href="https://coinmarketcap.com/currencies/cardano/" data-wpel-link="external" target="_blank" rel="nofollow external noopener noreferrer">market cap</a> stood at $18.3 billion.</p> <p>However, in the last 24 hours, its market cap dropped significantly and stood at $15.73 billion at press time.</p> <p>Furthermore, at the time of writing, ADA stood at $0.46 and was approximately 14% down in the last 24 hours.</p> <p>The Relative Strength Index (RSI) too appeared to be in freefall. And, it stood near the 40 mark indicating a movement towards the oversold zone. The Awesome Oscillator (AO), although above the zero line, flashed red bars at the time of writing.</p> <div id="attachment_252772"><p><a href="https://statics.ambcrypto.com/wp-content/uploads/2022/08/ADAUSD_2022-08-19_18-41-42.png" data-wpel-link="internal"><img aria-describedby="caption-attachment-252772" src="image/svg+xml,%3Csvg%20xmlns=&#039;http://www.w3.org/2000/svg&#039;%20viewBox=&#039;0%200%201280%20565&#039;%3E%3C/svg%3E" alt="" width="1280" height="565" data-lazy-srcset="https://statics.ambcrypto.com/wp-content/uploads/2022/08/ADAUSD_2022-08-19_18-41-42.png 1280w, https://statics.ambcrypto.com/wp-content/uploads/2022/08/ADAUSD_2022-08-19_18-41-42-300x132.png 300w, https://statics.ambcrypto.com/wp-content/uploads/2022/08/ADAUSD_2022-08-19_18-41-42-1024x452.png 1024w, https://statics.ambcrypto.com/wp-content/uploads/2022/08/ADAUSD_2022-08-19_18-41-42-768x339.png 768w" data-lazy-sizes=" 1280px) 100vw, 1280px" data-lazy-src="https://statics.ambcrypto.com/wp-content/uploads/2022/08/ADAUSD_2022-08-19_18-41-42.png"></a></p><p id="caption-attachment-252772">Source: TradingView</p></div> <p>The information presented in the Tweet could be one to damage the hype around Cardano.</p> <p>Despite past assurances from Charles Hoskinson surrounding the Vasil Fork, things seem far from reversal for the altcoin in the near future.</p> <p>The already-existing confusion around the hardfork has reached new heights in light of the recent events leaving investors and traders in a position of uncertainty.</p> </div><div id="mvp-content-bot">

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															<p>Ser Suzuki Shillsalot has 8 years of experience working as a Senior Investigative journalist at The SpamBot Times. He completed a two-hour course in journalism from a popular YouTube video and was one of the few to give it a positive rating. 

Shillsalot's writings mainly focus on shilling his favourite cryptos and trolling anyone who disagrees with him. P.S - There is a slight possibility the profile pic is AI-generated. You see, this account is primarily used by our freelancer writers and they wish to remain anonymous. Wait, are they Satoshi? :/</p> </div> <div itemprop="publisher" itemscope itemtype="https://schema.org/Organization"> <div itemprop="logo" itemscope itemtype="https://schema.org/ImageObject"> <p><img src="image/svg+xml,%3Csvg%20xmlns=&#039;http://www.w3.org/2000/svg&#039;%20viewBox=&#039;0%200%200%200&#039;%3E%3C/svg%3E" data-lazy-src="https://i.imgur.com/NCmyYWg.png"></p></div> </div> </div>