Cardano (ADA) Price Plummets 5% – Hoskinson Blames Community, Not Tech

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Well, well, well, if it isn’t Cardano (ADA) taking another dive on Monday, falling a neat 5% to around $0.57-just when you thought things couldn’t get worse after last week’s 10% tumble. Ain’t that a kick in the teeth?

The market is feeling particularly bearish, folks. According to CoinGlass, the long-to-short ratio for ADA is now sitting at a dismal 0.75, the lowest we’ve seen this month. That means more traders are betting on ADA to fall further-because who doesn’t love a good underdog story, right? 😒

And if you think the on-chain data is any better, think again. Santiment reports that daily active addresses on the Cardano network dropped from 32,115 in mid-October to a paltry 24,280 by November 3. Looks like demand is going downhill faster than a snowball in a blizzard.

Technical indicators are not doing ADA any favors either. Its RSI is sitting pretty at 32, deep in bearish territory-someone pass the life raft. The MACD histogram is showing a slow fade of any bullish momentum. Analysts are warning that if ADA falls below $0.55, we could be staring down the barrel of an even deeper correction toward the $0.49 support zone. Hold on to your hats, folks!

Hoskinson: “It’s Not a Tech Problem, It’s a Coordination Problem”

Now, enter Charles Hoskinson, Cardano’s head honcho, who’s clearly been listening to the whimpers of the ADA community and decided to reignite the old debate over Cardano’s lackluster DeFi performance. Spoiler alert: he’s pointing fingers-at the community, not the tech.

On his latest podcast, Hoskinson pulled no punches, saying the ADA community’s poor involvement in decentralized finance (DeFi) platforms is the real problem. Apparently, if more users jumped on the DeFi bandwagon, Cardano’s total value locked (TVL) could hit $5-10 billion. But alas, here we are, with the TVL at a mere $271 million. Even Solana has $11 billion, for crying out loud! 😩

He had the audacity to declare, “It’s not a technology problem. It’s a problem of governance, coordination, and accountability.” Which, let’s be honest, is code for “you’re not doing your part, folks.” Despite 1.3 million ADA holders staking their coins, barely any of them are engaging with the DeFi apps. Can’t say we’re surprised.

Cardano (ADA) DeFi Integration and Institutional Accumulation: A Glimmer of Hope?

But hey, not all hope is lost! Even though Cardano’s DeFi performance is crawling slower than a tortoise on a lazy Sunday, it still stands out in terms of development activity. Santiment data shows it outpaced Ethereum and Solana in late October. Go figure! 🧐

Projects like Midnight and RealFi are aiming to link Cardano with Bitcoin liquidity and real-world lending markets, which could potentially bring in billions. A ray of sunshine amidst the gloom? Perhaps.

And don’t think the big fish are ignoring ADA either. Data shows that over 37.5 million ADA tokens were moved from Coinbase to private wallets. So, while retail traders may be running for the hills, the institutional whales are quietly stockpiling, waiting for their moment to pounce. Oh, and steady token outflows from exchanges? Yep, that’s probably a sign of a longer-term accumulation phase. Fingers crossed!

As Hoskinson wisely put it, “We can pretty much do anything, the question is, can we do it together?” Well, Charles, you might want to start a support group for coordination problems first. 😜

Cover image from ChatGPT, ADAUSD chart from Tradingview

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2025-11-03 22:19