While Bitcoin (BTC/ETH) was 8 percent down and Ethereum (ETH/USD) was 9% also in the red compared to last week’s close - Cardano native token ADA (ADA/USD) was trading 4% lower than last week and only a touch above its strong support levels of $2.20-$2.25 at the weekly close Last Sunday, so essentially around levels similar to those that were witnessed during the week leading up to ‘The Greatest Cardano Event’ this year and arguably one of the biggest virtual events in the history of the whole crypto-industry. There were also 38 in-person, community-led meetups happening across six continents during the Cardano Summit, and a few dozen hours of speeches from 7 different categories including: Adoption, Community, Utility, Governance, Impact, Cardano World and Catalyst).
We enjoyed a local peak of $2.45 (another lower high in this downtrend unfortunately) just when Charles Hoskinson was giving his opening Keynote Speech. So, what did we hear, what did the Cardano crowd get, and was it all up to the over inflated expectations that I happened to observe especially in some Cardano online groups of enthusiants/investors? In one word: Yes, the Cardano Summit 2021 has absolutely delivered some great content and a host of information and announcements to give us a clue about the future direction of Development of Cardano.