Cardano (ADA) traded near $0.162 on June 5 as the token extended its selloff to 38.29% over the past month. The decline occurred during a broader market stress period that saw ADA reach price levels last seen around late 2020. Network activity metrics showed a surge during the price decline, with daily active addresses rising to 28,459, the highest level in four months according to Santiment.
ADA Records 38% Monthly Decline With $1.1 Billion Trading Volume
Cardano fell 17.9% over 24 hours and lost 30.7% over seven days, according to crypto.news price data. The 24-hour trading range spanned from $0.158433 to $0.198698, with volume above $1.1 billion as sellers dominated. ADA now holds market rank number 16 with a market value of about $6.03 billion. The fully diluted valuation stands near $7.31 billion based on a maximum supply of 45 billion ADA. This fall pushed ADA far below its 2021 all-time high of $3.09. The token has dropped 76.26% over the past year and 67.46% over the past 200 days.
Daily Active Addresses Hit Four-Month High at 28,459
Daily active addresses rose to 28,459, the highest level in four months, according to Santiment. This shows users continued to interact with the network as the selloff increased debate among traders. Santiment reported Cardano reached a 2026 high of about 0.52% social dominance during the spike. That means more than one in every 190 crypto-related social discussions focused on ADA. Cardano DeFi total value locked sits at about $118.6 million according to DeFiLlama. That figure represents a decline of 2.7% over the past 24 hours.
Cardano Foundation Cancels 2026 Summit After Governance Vote Fails
The Cardano Foundation canceled the 2026 Cardano Summit after a proposal seeking 7.8 million ADA failed to secure enough approval from DReps. Debate occurred around a separate 32.9 million ADA treasury request linked to Input Output Global research and development work. DRep opposition had climbed above 80% before the vote deadline. Recent Cardano weakness followed renewed attention on Charles Hoskinson, according to Santiment. Hoskinson said he was taking a break following warnings about project shutdowns and funding stress. Hoskinson warned that more Cardano businesses could fail after TapTools announced it would shut down. TapTools had operated as a Cardano analytics platform for about four years.
Ali Martinez Sets $0.11 and $0.051 Downside Targets
Ali Martinez said he would target $0.11 and $0.051 for ADA after the latest breakdown. He also said I would be taking a break too if I were him, while referring to the pressure around Hoskinson. The technical setup shows ADA broke below the lower Bollinger Band at $0.1845. The Bollinger Band midline sits near $0.2316. The upper band stands around $0.2786 while ADA remains far below the midline. Martinez noted bearish technical momentum as the token traded below key band levels.
FAQ
What price did Cardano reach on June 5?
Cardano (ADA) traded near $0.162 on June 5, marking a 38.29% decline over the past month and a 17.9% drop over 24 hours. The 24-hour trading range spanned from $0.158433 to $0.198698 with volume above $1.1 billion.
Why did the Cardano Foundation cancel the 2026 Summit?
The Cardano Foundation canceled the 2026 Cardano Summit after a proposal seeking 7.8 million ADA failed to secure enough approval from DReps. DRep opposition had climbed above 80% before the vote deadline.
What network activity metrics changed during the ADA price decline?
Daily active addresses rose to 28,459, the highest level in four months according to Santiment. Cardano reached a 2026 high of about 0.52% social dominance, meaning more than one in every 190 crypto-related social discussions focused on ADA.
