🚨 Cardano Struggles in Bear Market
Cardano's price has dropped by over 55% from its peak last November, falling to $0.587. The network is at risk of further downside as key metrics deteriorate and a bearish pattern forms. 📉
🔻 DeFi TVL Decline
DeFi Llama data shows that Cardano’s total value locked (TVL) has fallen by 15% in the past month, now at $324 million. Many newer blockchains like Unichain, Sui, and Sei have overtaken Cardano’s DeFi TVL, signaling waning interest from investors and developers. 💔
💡 Efforts to Revive Cardano
Despite these challenges, Charles Hoskinson and the Input Output team are working on projects like Leios (for parallel processing) and Midnight (for transaction privacy). However, it's unclear if these initiatives will reverse the downward trend and attract more development to the ecosystem. 🚀
Cardano's price has dropped by over 55% from its peak last November, falling to $0.587. The network is at risk of further downside as key metrics deteriorate and a bearish pattern forms. 📉
🔻 DeFi TVL Decline
DeFi Llama data shows that Cardano’s total value locked (TVL) has fallen by 15% in the past month, now at $324 million. Many newer blockchains like Unichain, Sui, and Sei have overtaken Cardano’s DeFi TVL, signaling waning interest from investors and developers. 💔
💡 Efforts to Revive Cardano
Despite these challenges, Charles Hoskinson and the Input Output team are working on projects like Leios (for parallel processing) and Midnight (for transaction privacy). However, it's unclear if these initiatives will reverse the downward trend and attract more development to the ecosystem. 🚀
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