Cardano News Today – Cardano Foundation Gets Hit With Lawsuit from Former Partner – March 17th, 2020 

  • Z/Yen was Cardano’s Research Partner in 2017
  • Cardano ADA Declines Beneath 0.023970 Level, Down By 11%

Cardano News Update – Cardano Foundation recently released a statement on the issue of its former partner Z/Yen Group Limited, who commenced legal proceedings against them. Cardano News Now – Though Cardano Foundation did not reveal the most important details of the dispute, it only explained that the proceeding is about a supposed agreement between the two parties, which goes far back as July 2017.

Cardano (ADA) Price Today – ADA / USD

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Cardano
$0.080

Cardano News Now – Cardano stated that it ended the agreement for several reasons, though it appears Z/Yen has some unresolved issues related to the deal. Cardano has outrightly rejected the claims raised by its former partner. Cardano Foundation added that further details will not be disclosed since the judiciary process is ongoing.

Z/Yen was Cardano’s Research Partner in 2017

Cardano Latest Update – sometime in 2017, Cardano chose Z/Yen Group’s Distributed Futures practice as a partner to jointly research on blockchain applications. The partnership was aimed to help the development of the Cardano Protocol and its ADA token. Cardano News Now –Distributed Futures is aimed at blockchain, cryptocurrencies and artificial intelligence (AI), The unit was led by Z/Yen co-founder professor Michael Mainelli, who became Cardano Foundation’s Director of Research then. Though the two parties were able to work on many research projects, the recent dispute shows that they are no longer together.

Cardano ADA Declines Beneath 0.023970 Level, Down By 11%

Cardano Price Prediction 2020 – ADA declined beneath the $0.023970 level on Monday. ADA was trading at 0.023970, down 10.74% on the day. It was the largest 1-day percentage loss since March 16. The downward move pulled ADA’s market cap down to $627.69071 million, or 0.00% of the whole cryptocurrency market cap. At its peak, ADA’s market cap was $23.91700 billion.

Cardano Price Prediction 2020 – ADA had traded in a zone of $0.021697 to $0.026967 in the past 24-hours. Over the past seven days, ADA has encountered a decline in value as it lost 40.7%. ADA volume traded in the past 24-hour was$100.92388 million or 0.00% of the whole volume of all cryptocurrencies. It has traded in a zone of $0.0178 – $0.0430 in the past 7 days.

Cardano Price Prediction 2020 –At its current price, ADA has declined by almost 11%, it is trading at $0.238. The recent decline is a result of the general market crash amidst the Coronavirus epidemic, which has affected most assets negatively. ADA is still down by 98.22% from its all-high of $1.35 established on January 4, 2018. The next few days of trading will determine if the market will improve.

Ufuoma Ogono is a cryptocurrency writer with over 3 years experience in the cryptocurrency industry. She dedicates her time to sharing valuable information to members of the cryptocurrency community.

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