Cardano (ADA) fell about 15% in 24 hours to near $0.16 on Friday, its lowest level since late 2020, extending a weeklong selloff of roughly 30%. The drop left ADA ranked 17th by market value with market capitalization slipping below $6 billion, according to BeInCrypto, as trading volume topped $1.1 billion.
Cardano Foundation CEO Frederik Gregaard urged investors to look past short-term price action, citing governance at scale, expanding DeFi projects and real-world asset work, plus identity efforts tied to 20,000 farmers in India. BeInCrypto also noted ecosystem strain, including TapTools saying on June 3 it would wind down within two weeks and the shutdown of NFT marketplace JPG.Store in May.
Cardano Foundation CEO urges calm as ADA slides to late-2020 lows
2026-06-05 18:23:14
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