Even though the adoption levels have maintained an upward trajectory over time, Cardano (ADA) has been in a free fall, causing panic among investors about its viability. As of current, underlining is ADA’s trading price at $0.353 after dropping down by 65.91% from the present value of $0.81, which is prevailing, and even presents with more downward pressure. Its market cap has also dived from $28.8 billion to $12.36 billion because of selling out among the investors. As one of the traders explained: “If this trend continues, then ADA will go to zero.” ADA investors have been exiting to avert the negative impact on their portfolios and have been opting for this new RWA token, Rexas Finance (RXS) which has been gaining momentum as ADA keeps diminishing.
ADA’s Decline and What’s Next
The failure of ADA to go past the resistance level of $0.81 in March 2024 was the beginning of a strong downtrend in…
