TLDR
- Cardano price dropped to $0.7684 with market cap at $27.52 billion and trading volume down 45%
- DeFi ecosystem shows weakness with Total Value Locked falling 53% to $320 million this year
- Technical analysis points to potential drop to $0.50 support level based on chart patterns
- Midnight Foundation contributes USDM to Fund 15 supporting privacy-focused blockchain development
- Community sentiment remains 88% bullish despite recent price declines and market consolidation
Cardano is trading at $0.7684 with its market capitalization decreasing 1.26% to $27.52 billion. The token has declined 1.22% over the last 24 hours and 12.88% over the past week.
Trading volume dropped 45.24% to $555.14 million compared to the previous day. This reflects decreasing investor activity in the current market environment.
The broader crypto market has turned bearish with Bitcoin’s downward movement affecting altcoins including ADA. Cardano reached a low of $0.7736, marking the lowest level since mid-August.
This represents a 24% decline from the year’s peak. The token now trades in bear market territory alongside other major altcoins.
DeFi Ecosystem Faces Pressure
Cardano’s DeFi ecosystem shows concerning metrics with Total Value Locked dropping to $320 million. This marks a 53% decrease from $680 million earlier this year.
The platform continues to rely on existing DeFi applications like Liqwid, Minswap, and Indigo. No major new DeFi applications launched on Cardano throughout this year.
Daily DEX trading volumes remain at $1.4 million for the blockchain platform. Stablecoin supply decreased 4.4% to just $37 million during this period.
Institutional interest appears limited with Cardano having one ETF application from Grayscale. This compares to seven or more applications each for Solana and Ripple.
Technical Analysis Points Lower
Chart patterns show bearish formations for ADA price action. A rising wedge pattern completed its breakdown with price moving below the formation.
Head-and-shoulders pattern also completed below its neckline level. ADA dropped below both its 50-day and 100-day moving averages during recent trading.
The Average Directional Index reached 22, indicating strengthening downtrend momentum. Technical indicators point to potential support at the June low around $0.5095.
This level represents a possible 35% decline from current price levels. Multiple chart patterns align to suggest further downside pressure.
Despite technical weakness, community sentiment remains strong. CoinMarketCap data shows 88% of participants maintain bullish outlook for the token.
Only 12% of respondents express bearish sentiment. This community confidence contrasts with current price action and technical indicators.
Midnight Foundation recently contributed USDM tokens to Project Catalyst Fund 15. This donation supports privacy-focused blockchain development on the Cardano platform.
Charles Hoskinson says: Midnight secured 110 partnership deals! 🤝
"They're good, they're juicy. You're gonna like those, very soon actually."
Those directly benefit Cardano since Midnight is a partner chain and $NIGHT is a CNT.
Like we saw with the Brave integration. pic.twitter.com/rxGmA0i0dn— Cardanians (CRDN) (@Cardanians_io) August 29, 2025
Fund 15 aims to boost privacy-first innovation through the network’s open funding program. The contribution reinforces Midnight’s mission of enabling secure and compliant applications.
Some analysts predict ADA could reach $10 during a sustained bull market. These projections reflect long-term optimism about platform adoption and development.
People laughed when $ADA was under $0.02
My view: #ADA can hit $10 in this bull run if the market stays healthy.
NFA & DYOR@Cardano pic.twitter.com/MivGpJHSSb
— Crypto Patel (@CryptoPatel) September 27, 2025
The token has evolved from trading below $0.02 to becoming a major blockchain platform. Smart contracts, DeFi applications, and developer community growth support this development.
Privacy remains a key challenge for public blockchains that publish transaction data by default. Midnight’s support could help develop privacy-focused decentralized applications.
Current market conditions show Cardano in a consolidation phase with mixed technical and fundamental signals. The platform continues development work while facing competitive pressure from newer blockchain platforms.
