Daily Cryptocurrency Analysis: Cardano (ADA)

Market Performance and Analysis:

Based on the latest data as of June 24, 2026, Cardano (ADA) is facing extremely heavy selling pressure, with the coin price continuing to struggle near its historical lows.

Price Action: It is currently trading in the $0.155–$0.163 range (about 5.0–5.3 TWD). Earlier this week, ADA briefly plunged to a 5-year historical low of $0.1485. Although there has been some mild resistance afterward, overall buying momentum remains weak. Daily trading volume has dropped from peak levels of tens of billions of dollars to only about $500 million, reflecting a major withdrawal of short-term speculative funds.

Technical Analysis: On the daily chart, ADA’s 50-day and 200-day moving averages (SMA) both show a bearish “death cross” formation and an accelerating downward trend. The $0.1485–$0.1500 area has been established as a “line of life and death.” Once the daily timeframe confirms a breakdown below it, market analysis expects additional downside may open up further to $0.13 or even lower. The immediate resistance above is significantly capped at $0.18–$0.20.

Fundamental Developments and Bull-Bear Events:

SecondFi custodial hack incident (major short-term negative): On June 23, the day before yesterday, the official account of SecondFi, a long-established Cardano ecosystem wallet that claims to be the “new finance” platform (formerly known as the well-known wallet Yoroi), confirmed that it suffered a serious security vulnerability. The hackers exploited flaws in its web wallet generation software, successfully targeting and stealing funds from 178 users, totaling approximately 16 million ADA (worth up to $2.4 million). The platform has now urgently paused front-end interactions and entered maintenance mode. This major self-custody security incident has dealt a severe blow to retail users’ on-chain confidence.

Technical upgrades and governance voting progress (fundamentals building a base): Although the token price is in a capitulation (cutting-loss panic) phase, core underlying development has not stopped.

Ouroboros Leios testnet: The highly anticipated scalability upgrade Musashi Dojo testnet (the Leios protocol) was officially launched on June 23, aiming to increase blockchain transaction speed by 65 times. This has been viewed as a “ace” that could reverse the market’s conservative impression of Cardano’s performance.

van Rossem hard fork: On-chain organization Intersect confirmed that the governance proposal for the van Rossem hard fork has officially been deployed on the mainnet, and the new Plutus cost model was successfully activated on June 18. The ecosystem is moving toward a more decentralized, full-scale constitutional governance system.

Smart money “counter-cyclical accumulation”: On-chain token structure data (WazirX data) shows that while retail investors are panicking and exiting, the supply controlled by million-level whales has quietly risen to 67% of the global circulating supply. This indicates that over the long term, institutions and core supporters are structurally accumulating at the five-year lows.

Disclaimer: For reference only; not investment advice.

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