Cardano’s ‘Hydra 2.0’ Flops, ADA Dumps 30% in Hours
CoinCrashReport
Cardano (ADA) plummeted to $0.80 today, a brutal 30% drop in mere hours, after the long-awaited “Hydra 2.0” upgrade turned into a disaster. Billed as the solution to Cardano’s scalability woes, the update promised lightning-fast transactions via layer-2 state channels. Instead, it triggered widespread node crashes across the network, leaving developers scrambling and investors fuming. ADA, which had climbed to $1.15 in anticipation, erased weeks of gains as panic selling gripped the market.
The fallout was swift and merciless. Trading volume spiked to $12 billion as exchanges like Binance saw a flood of sell orders. Founder Charles Hoskinson took to X, calling it a “temporary setback” and promising a fix “within days.” But the Cardano community isn’t buying it. Posts with #CardanoScam began trending on X, with users accusing the team of overhyping untested tech. “Years of promises, and this is what we get?” tweeted @ADAHodlNoMore
. “Hydra’s a hydra-headed mess.”
The flop dashes hopes of ADA reclaiming its 2021 high of $3.10 this month. Analysts had pegged Hydra 2.0 as the catalyst to rival Ethereum’s dominance, but the botched rollout exposed lingering flaws. “Cardano’s always been big on theory, short on delivery,” said analyst Jake Tran of CryptoSkeptic. “This could set them back a year.” Meanwhile, rival chains like Solana gloated, with SOL up 8% on the news.
Hoskinson doubled down in a late-night video, insisting “the vision is intact” and blaming “teething issues.” Yet, with ADA’s market cap shrinking to $28 billion, faith is wavering. Whales dumped millions of tokens, and smaller holders joined the exodus. Cardano’s dream of a scalable, decentralized future hangs by a thread—unless the team can pull off a miracle. For now, it’s a cautionary tale in the crypto wild west.
#CardanoCrash DYOR: This is fictional; always research before investing.