It has been more than a year since the election period started a strong move across the crypto market. Many coins went up fast during that time. Since then the market has faced fear noise and sudden drops. Even so most large coins are still above their early election prices. Long term holders in many projects are still in profit.
Cardano is different.
After weak action through the second half of the year ADA has fallen back to where it was before the rally began. All gains from the election period are now gone. Price has returned to a key zone near thirty cents. This level matters because it has acted as support in the past. If it breaks the picture can get worse fast.
This weakness shows clearly in Cardano value. Over this year ADA has lost a large part of its total value. The drop is deeper than many other major coins. Even coins built mostly on hype have held up better. That comparison hurts because Cardano is known as a slow careful and research driven project.
When a serious project falls behind joke coins it raises hard questions.
The pressure is now on Cardano place in the top ten. The gap between ADA and the next coin below it is shrinking. If the trend stays the same Cardano could lose its rank soon.
The problem is not only price.
User activity on the network has cooled down a lot. During the election period many new users showed up. That number has now fallen back close to old levels. Fewer people are using apps on the network. That means less demand for the coin itself. Without excitement price struggles to move up.
Money locked inside Cardano apps also looks weak. Other newer chains with smaller total value are holding much more capital inside their systems. This suggests Cardano may be priced higher than what people are actually using it for. When value is not backed by use markets usually correct it.
Large holders also seem to be losing patience.
Over the last few months a big amount of ADA has been sold by whales. This selling happened while price dropped almost half from its recent high. It also shows how hard it has been for ADA to stay above higher levels. Each bounce has met selling pressure.
All these signals point in the same direction.
Price is weak. Users are not growing. Locked value is not rising. Big holders are selling. Excitement is low. In simple terms Cardano is struggling to prove its worth right now.
This does not mean the project is finished. Cardano still has a strong community and active development. But markets care about results not promises. Until activity and demand return the risk stays high.
If nothing changes soon Cardano may fall out of the top ten. For a project once seen as a long term leader that would be a serious moment. The next few months will decide whether ADA can hold its place or continue to slide.
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