The price of Cardano (ADA) has dropped about 18% in the past seven days
The price of Cardano (ADA) has dropped about 18% in the past seven days, currently trading around $0.88. This decline comes amid weak ADA network activity, with the number of active addresses down 36% and the number of new addresses created down 46% over the past week.
In addition, the massive sell-off of ADA by large investors, or whales, has also contributed to downward price pressure. In just one week, whales sold $200 million worth of tokens, raising concerns about price stability.
If this downtrend continues, ADA may have difficulty holding support at $0.88 and could potentially drop to $0.77 or lower. However, if network activity improves, the price could recover to higher levels.
