- •Cardano’s trading volume has dropped by 36.5%, indicating reduced investor interest amid market volatility.
- •Profit-taking has prevented ADA from reaching the $1 mark, while exchange delistings added further pressure on its price.
- •Cardano’s marketing issues continue to hinder its growth, with the blockchain struggling to clearly communicate its value to investors.
Cardano (ADA) has been hit hard by a market-wide crash, with its price dropping significantly from an intraday high of $0.9082. This dip has once again delayed its attempt to reach the psychological $1 target. Moreover, the cryptocurrency has seen a notable decrease in trading volume over the past 24 hours, raising concerns about its future price outlook.
Recent data from CoinMarketCap reveals that Cardano’s trading volume has plunged by 36.5%, falling to $1.13 billion. This sharp decline reflects a general lack of enthusiasm among investors, as many have pulled back from the asset in light of ongoing market volatility. Cardano’s price as of the latest update is $0.8897, marking a 0.85% decrease in the last 24 hours and a 5.77% drop over the past seven days. The cryptocurrency briefly dropped to $0.8874 before showing a minor recovery, indicating the uncertainty that has gripped the market.
Profit‑Taking and Exchange Delistings Add Pressure
Several factors contributed to Cardano’s price drop, with a notable surge in profit-taking as the asset briefly topped $0.90. This increase in selling pressure prevented ADA from reaching the coveted $1 mark. Additionally, the Bitget exchange’s decision to delist several ADA trading pairs triggered further sell‑offs, exacerbating the downward trend. The delisting has reduced support for the cryptocurrency on major exchanges, further impacting its market performance.
In addition to these market forces, Cardano’s struggle to break into the upper ranks of the crypto market can be partly attributed to its marketing issues. Tim Harrison of Input Output, Cardano’s parent company, previously mentioned that the blockchain faces a "marketing problem." According to Harrison, Cardano's inability to communicate its value proposition clearly has hindered its ability to attract more investors. This lack of communication clarity continues to be a major hurdle for ADA, which has struggled to gain traction despite being one of the leading projects in the blockchain space.
Charles Hoskinson Faces Criticism Amid Cardano’s Struggles
Efforts from Cardano founder Charles Hoskinson to promote ADA have fallen short, with many users responding critically to his recent claims. Hoskinson's statement that "Cardano is going to break the internet" was met with skepticism, as the cryptocurrency has underperformed relative to other major projects. ADA’s market position has fluctuated, briefly climbing to the ninth spot before being overtaken by Tron. The coin currently sits in tenth place, as it faces increasing competition from more successful altcoins.
Despite these setbacks, Cardano's future may still hold some potential. The growing interest in exchange‑traded funds (ETFs) and Grayscale's recent S‑1 registration could create new opportunities for ADA. However, whether this will be enough to reverse the current trend remains to be seen.