In June 2025, the cryptocurrency Cardano (ADA) finished the month disappointingly, recording a 16% decline in price despite positive developments in its ecosystem.
Decline in Cardano's Active Addresses
On-chain metrics show a significant drop in Cardano's 24h Active Addresses from around 24,000 to under 18,000 by June 21. This steep decline indicates a sharp decrease in user activity, often a red flag during price downturns.
ADA Price Analysis
At press time, Cardano is trading at $0.5590, down 1.02% for the day and 3.81% over the past week. Overall sentiment remains cautious as ADA hovers between key support and resistance levels.
Future Prospects for Cardano
All eyes are now on Grayscale's proposal for the first U.S. Cardano ETF. If approved, it could significantly shift investor interest and alleviate pressure on the price.
Despite positive changes in the ecosystem, Cardano faces challenges, including declining active users and negative market sentiment. The project's future hinges on ETF approval and revitalized investor interest.
