Cardano (ADA), one of the most established altcoin projects in the cryptocurrency market, has dragged its investors to a deep crossroads with its 90% loss of value since its peak of $ 3.10 in 2021. Popular content creator Jake Gagain’s description of ADA as one of the worst investments of his career caused wide repercussions in the cryptocurrency world and ignited harsh discussions within the community. While some people complain about the slow progress of the project and switch to Bitcoin, loyal supporters describe the current decline as a temporary storm and continue to protect their assets with the motto “diamond hands”.
Strategy Conflict and Delayed Expectations within the Community
Jake Gagain’s accusation of Cardano team of wasting a great opportunity mobilized a large number of users on the X platform. Although some investors emphasize the loyalty of the Cardano community, they argue that the development speed and implementation processes on the network lag behind its competitors. Especially those who created a portfolio in anticipation of a “bull market” stated that the cumbersome structure of ADA caused financial losses and that they would now follow a strategy focused solely on Bitcoin.
Reactions towards Gagain, who was at the center of criticism, were also swift. Some investors stated that they found it inconsistent with the famous name’s criticism of Cardano, reminding him of praising high-risk “memecoin” projects. It is emphasized that ADA’s technological infrastructure is much more solid, especially when compared to projects such as NEIRO, which entered the market quickly and failed in a short time. Market defenders such as Michael Lesser argue that the losses are only on paper and that the long-term thesis is not yet broken.
Whales’ Move and Future Projection
In the shadow of criticism and social media wars, there are noticeable signs of recovery on the Cardano front. The asset, which recorded a 9% increase on a weekly basis, again whetted the appetite of large investors, that is, “whales”. Giant wallets, which have collected approximately 820 million ADAs from the market in the last six months, hold nearly 70% of the total supply, giving a strong message of confidence in the future. This huge accumulation narrows the amount of circulation in the market, paving the way for the price to accelerate rapidly in the event of a possible increase in demand.
Analysts point out that the critical threshold for ADA is $ 0.30. It is predicted that if this resistance is overcome, the price may climb to $0.32 and $0.34, respectively. Although technical indicators and whale activity signal a rise, the fragmented nature of the community continues to influence market sentiment. Investors are now eagerly waiting to see when the project’s technological vision will translate into financial returns.
