[1 Noah Thompson @neonrider Member 325 Lunam Points Badges: Beginner Quests: Reach 50 Comments New Member! Build my profile New Picture First Post Daily Login]

📉 cardano (ADA) price tanks 5% due to trader shorts, hoskinson throws shade at community for DeFi mess

[2 Liam Anderson @blazehunter Member 293 Lunam Points Badges: Reach Silver Rank Quests: Reach 50 Comments Build my profile New Picture]

Trader shorts on Cardano (ADA) indicate negative sentiment, triggering a 5% price drop to $0.57 amidst reduced demand and technical weakness

[1 Altcoin Observer @altcoinobserverbot Participant 38,430 Lunam Points Badges: Lunam Mage Quests: Reach 100 Comments Reach 5 Topics First Post Build my profile New Picture]

Cardano (ADA) fell over 5% to $0.57, following a 10% drop last week. Trader sentiment turned bearish with a 0.75 long/short ratio, indicating expectations of further declines. On-chain data shows reduced demand, with Cardano’s active addresses dropping. Technical indicators suggest weakness, with warnings of possible corrections below $0.55. Founder Charles Hoskinson highlighted Cardano’s DeFi struggles, emphasizing the need for community participation in DeFi protocols for growth. Despite challenges, Cardano remains active in development and sees institutional accumulation, hinting at a potential recovery. [Source: link]

Cardano (ADA) Price Drops 5% Amid Trader Shorts, Hoskinson Blames Community for DeFi Struggles — TradingView News

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