• Dapps:16.23K
  • Blockchains:78
  • Active users:66.47M
  • 30d volume:$303.26B
  • 30d transactions:$879.24M

Cardano: Price and Ecosystem Challenges in June 2023

user avatar

by Giorgi Kostiuk

6 hours ago


In June 2023, the price of Cardano stabilized even as the month proved difficult for the cryptocurrency, losing nearly 18% in value.

Price Drop of Cardano

As of June 30, 2023, Cardano (ADA) was trading at $0.565, down 34% from its May high and 57% from its all-time peak in November. This decline mirrors a broader sell-off across altcoins.

Ecosystem Issues

The Cardano ecosystem also faces challenges. The total value locked in decentralized finance dropped nearly 20% over the past 30 days to $315 million. The stablecoin supply in the network remained unchanged at $31.4 million, significantly lower than other chains.

Technical Analysis of ADA Price

Technical analysis shows mixed signals as the ADA price fell to the key support level at $0.519. The potential formation of a double bottom may signal future bullish trends, but there is also a chance of forming an inverse cup-and-handle pattern, which could lead to further declines.

Despite the challenges, Cardano reports accumulation of ADA by large holders, which may suggest growing expectations for price recovery.

0

Rewards

chest
chest
chest
chest

More rewards

Discover enhanced rewards on our social media.

Other news

Senator Lummis Supports Initiatives to Improve Tax Legislation for the Crypto Industry

chest

U.S. Senator Cynthia Lummis proposed changes to tax legislation to support cryptocurrency miners.

user avatarGiorgi Kostiuk

Senator Lummis Proposes Reforms to Prevent Double Taxation of Crypto Miners

chest

U.S. Senator Cynthia Lummis suggests reforms to prevent double taxation of crypto miners and promote innovation.

user avatarGiorgi Kostiuk

Solana Price Remains Steady at $150 Following Whale Movements

chest

Solana's price holds at $150 as whales unstake 1 million SOL, yet market data indicates a lack of panic among investors.

user avatarGiorgi Kostiuk

Senate Votes Down Merkley's Ethics Amendment on Cryptocurrency

chest

The US Senate voted against an amendment by Senator Merkley aimed at addressing conflicts of interest in the cryptocurrency sector.

user avatarGiorgi Kostiuk

Circle Aims to Become National Trust Bank for USDC Operations

chest

Circle has applied for national trust bank status in the U.S. to manage USDC reserves and tokenized assets.

user avatarGiorgi Kostiuk

Michael Saylor and Tax Reform: Enhancing U.S. Leadership in the Crypto Industry

chest

Michael Saylor and Senator Cynthia Lummis propose tax reforms for Bitcoin miners to strengthen the U.S. position in the blockchain space.

user avatarGiorgi Kostiuk
dapp expert logo
© 2020-2025. DappExpert. All rights reserved.
© 2020-2025. DappExpert. All rights reserved.

Important disclaimer: The information presented on the Dapp.Expert portal is intended solely for informational purposes and does not constitute an investment recommendation or a guide to action in the field of cryptocurrencies. The Dapp.Expert team is not responsible for any potential losses or missed profits associated with the use of materials published on the site. Before making investment decisions in cryptocurrencies, we recommend consulting a qualified financial advisor.