Cardano risks 60%-90% drop, warns trader with ADA painting a classic bearish pattern

is close to attaining the title of a fully-fledged smart contracts platform following a critical upgrade in mid-July. The project's founder Charles Hoskinson confirmed that they recently processed the sales of more than $10 million worth of non-fungible tokens atop their public ledger.

Moreover, an NFT and DeFi Marketplace called the Spores Network, which raised $2.3 million in a fundraiser, said it would deploy its services atop the Cardano chain for lower transaction costs, lower carbon footprints, and higher transaction throughput.

Cardano's head and shoulder setup. Source: TradingView.com, Peter Brandt