$ADA is the native token of the Cardano blockchain, developed under the leadership of Ethereum co-founder Charles Hoskinson. It uses the Ouroboros proof-of-stake (PoS) consensus mechanism, consuming only 1/300 of the energy of Bitcoin. Its technical highlights include a layered architecture (separating the settlement layer from the control layer), Haskell language security, and an academically-driven iterative model, supporting smart contracts and decentralized finance (DeFi) applications. As of June 2025, ADA's market capitalization has consistently remained in the top ten globally, priced at approximately $0.63, with a 24-hour increase of 1.9%. Recently, it has been included in the Nasdaq index, and whales have increased their holdings by 120 million coins, boosting market confidence. As the core of the ecosystem, ADA is used for transactions, staking rewards, and governance voting, but it needs to address regulatory policies and technological upgrade risks.