Cardano Plunges 13 Percent Despite Smart Contract Launch

Cardano Plunges 13 Percent Despite Smart Contract Launch

Cardano, the largest proof-of-stake blockchain, has successfully launched smart contracts after months of anticipation.The Alonzo upgrade was deployed at 10:44 p.m. UTC to much fanfare. IOG CEO Charles Hoskinson is in a celebratory mood, urging Polymarket to donate $50,000 to the charity of his choice.As reported by U.Today, a prediction market, which allowed users to bet whether or not Cardano would launch smart contracts by October.

Solana (SOL) and Avalanche (AVAX) have also posted double-digit losses, but Polkadot (DOT) has managed to buck the trend with a 13 percent price spike.

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