Cardano Price Down 35%, Hoskinson Warns of Ecosystem Decline
Cardano (ADA) has dropped about 35% in under a month, with founder Charles Hoskinson admitting he is powerless to stop the decline after another major project shut down. The total value locked (TVL) in Cardano DeFi fell from $905 million in late 2024 to $139.77 million, an 85% decline. Weekly DEX volume dropped from 19 million ADA to 1.9 million, and daily active addresses fell from 17,600 to 14,900. Hoskinson proposed a potential nuclear option: launching a new Cardano with a proof-of-burn mechanism. Most top protocols are bleeding, except Surf Lending, which grew 98% but holds only $4.62 million. Smart money and whale positioning are bearish, with futures open interest collapsing from $1.6 billion to $324 million. Key support is at $0.17; breaking below $0.178 could expose $0.141 and $0.094. Bullish reversal requires reclaiming $0.26. Some holders are accumulating, with spot exchange outflows of $2.26 million.
Key facts
- ADA price fell 35% in under a month, from $0.29 to near $0.19.
- Cardano TVL dropped 85% from $905M to $139.77M.
- Weekly DEX volume collapsed from 19M to 1.9M ADA.
- Surf Lending grew 98% but holds only $4.62M TVL.
- Key support at $0.17; breaking below could lead to $0.141 and $0.094.