Cardano's 10th Spot is on the Line! 🚨

$ADA has completely erased its yearly gains, plummeting back to early election levels around the $0.30 support. A brutal Q3 & Q4 saw a staggering $25 billion wiped from its market cap – a 64% drop to $14 billion. Even $DOGE has fared better! 📉

Weak fundamentals are now accelerating the decline. Active addresses have plummeted from 93k to below 25k, and TVL lags behind competitors like $SUI, which boasts 4.5x Cardano’s TVL with a smaller market cap. Whales are also heading for the exits, offloading 120 million $ADA in the last two months.

Is Cardano overvalued? The market is starting to think so, and $BCH is closing in on its 10th place ranking.

#Cardano #CryptoAnalysis #Altcoins #MarketUpdate 🐻

ADA
ADAUSDT
0.3602
-4.43%

DOGE
DOGEUSDT
0.12919
-2.20%

SUI
SUIUSDT
1.4266
-2.38%