Cardano's ADA token has dropped to around 16 cents, its lowest level since December 2020. The decline followed comments from founder Charles Hoskinson and project setbacks. Social media attention and on-chain activity have increased sharply during the selloff.
ADA fell nearly 30 percent over the past week and more than 75 percent over the past year, according to CoinDesk data. The token briefly traded below 16 cents after Hoskinson said he was taking a break and warned of a potential wave of failures in the ecosystem. The remarks followed the shutdown of analytics platform TapTools after four years and a community vote against funding the 2026 Cardano Summit in Singapore. These events contributed to the market reaction. Santiment reported that ADA social dominance reached about 0.52 percent, a 2026 high. Daily active addresses climbed to 28,459, the highest level in four months.
