{"id":49690,"date":"2026-06-09T11:34:53","date_gmt":"2026-06-09T11:34:53","guid":{"rendered":"https:\/\/quickassetsmarket.com\/index.php\/2026\/06\/09\/heres-why-cardano-price-has-crashed-and-erased-84-billion-in-value\/"},"modified":"2026-06-09T11:34:53","modified_gmt":"2026-06-09T11:34:53","slug":"heres-why-cardano-price-has-crashed-and-erased-84-billion-in-value","status":"publish","type":"post","link":"https:\/\/quickassetsmarket.com\/index.php\/2026\/06\/09\/heres-why-cardano-price-has-crashed-and-erased-84-billion-in-value\/","title":{"rendered":"Here\u2019s why Cardano price has crashed and erased $84 billion in value"},"content":{"rendered":"
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Cardano (ADA) price has crashed deeper than other altcoins this year, and is now hovering near its all-time low. It was trading at $0.1660 on Tuesday, down sharply from the record high of $3. This retreat has erased over $84 billion in value as the market cap has dropped from over $90 billion to $6 billion today.\u00a0<\/p>\n

Cardano price has crashed amid ghost chain claims<\/h2>\n

ADA price has been in a strong downward trend for a long time. After peaking at $3 in 2021, it has continued its strong crash, with all rebounds becoming good selling opportunities. <\/p>\n

The ongoing Cardano price crash is mostly because it has become a ghost chain who few people use. This is a big issue because Cardano was envisioned as the next big thing in the crypto industry. <\/p>\n

At some point, it was widely seen as the best alternative to Ethereum, a blockchain project that was once known for its slow speeds, high carbon emissions, and high transaction costs. <\/p>\n

Years later, Cardano has become a ghost chain. Developers have fled and users have largely abandone it. It has also been overtaken by other chains that launched years after Charles Hoskinson started it. <\/p>\n

A good example of this is in the decentralized finance (DeFi) industry, where Cardano has a total value locked (TVL) of less than $100 million. In contrast, Ethereum and Solana have billions of dollars in value. <\/p>\n

Cardano has just $35 million in stablecoin supply, a tiny amount in an industry with over $317 billion. It has no market share in the booming Real-World Asset (RWA) tokenization industry. <\/p>\n

As a result, data shows that the network is no longer making money. According to DeFi Llama, data shows<\/a> that the network has made just $374,000 this year, a tiny amount for a crypto project worth over $6 billion.<\/p>\n

These metrics explain why no company has filed for a spot Cardano ETF despite its market capitalization.<\/p>\n

Efforts to save Cardano are not working<\/h2>\n

There are signs that efforts to save Cardano are not working. For example, Charles Hoskinson and the team launched Midnight, a privacy-focused blockchain project. <\/p>\n

NIGHT, its token, saw its market capitalization jump to over $1.4 billion, a figure that has retreated to $533 million. There are signs that activity in Midnight has largely stalled and there are no major dApps in the ecosystem. <\/p>\n

Cardano also launched a major project to attract developers. For example, it launched a partnership with Pyth Network, a major player in the oracle space. Still, despite this, developers have not moved to the network.<\/p>\n

Cardano is also working on the Leios upgrade, which aims to make it a faster network by introducing parallel processing. Still, it is unclear whether developers will embrace the network<\/p>\n

ADA price technical analysis<\/h2>\n
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Cardano price chart | Source: TradingView<\/em><\/p>\n

The weekly chart shows that ADA price has crashed<\/a> in the past few months. It formed a head-and-shoulders pattern, a common bearish reversal sign in technical analysis. <\/p>\n

The coin has slumped below all moving averages and is now hovering at the neckline. It has moved below the Ichimoku cloud indicator.<\/p>\n

Therefore, the token will likely continue falling in the near term. If this happens, the next key target to watch will be at $0.1500. <\/p>\n

The post Here\u2019s why Cardano price has crashed and erased $84 billion in value<\/a> appeared first on Invezz<\/a><\/p>\n

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Cardano (ADA) price has crashed deeper than other altcoins this year, and is now hovering near its all-time low. It was trading at $0.1660 on Tuesday, down sharply from the record high of $3. This retreat has erased over $84 billion in value as the market cap has dropped from over $90 billion to $6 <\/p>\n","protected":false},"author":1,"featured_media":49691,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[4],"tags":[],"class_list":["post-49690","post","type-post","status-publish","format-standard","has-post-thumbnail","category-world"],"_links":{"self":[{"href":"https:\/\/quickassetsmarket.com\/index.php\/wp-json\/wp\/v2\/posts\/49690","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/quickassetsmarket.com\/index.php\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/quickassetsmarket.com\/index.php\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/quickassetsmarket.com\/index.php\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/quickassetsmarket.com\/index.php\/wp-json\/wp\/v2\/comments?post=49690"}],"version-history":[{"count":0,"href":"https:\/\/quickassetsmarket.com\/index.php\/wp-json\/wp\/v2\/posts\/49690\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/quickassetsmarket.com\/index.php\/wp-json\/wp\/v2\/media\/49691"}],"wp:attachment":[{"href":"https:\/\/quickassetsmarket.com\/index.php\/wp-json\/wp\/v2\/media?parent=49690"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/quickassetsmarket.com\/index.php\/wp-json\/wp\/v2\/categories?post=49690"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/quickassetsmarket.com\/index.php\/wp-json\/wp\/v2\/tags?post=49690"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}