By Laurenz Van de Sande | Europe | December 27, 2025| 13:49 CET

Key Points

• Cardano’s ADA token is down about 58% year-to-date, extending losses through the Christmas period.
• Founder Charles Hoskinson pushed back against claims that he abandoned the token after selling near its peak.
• Technical indicators continue to point to a bearish trend, with ADA struggling to reclaim key resistance.
• On-chain and derivatives data show capital steadily exiting the Cardano ecosystem.

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NEW YORK — Cardano offered investors little holiday cheer this Christmas, as its native token, ADA, remained firmly in the red, reinforcing a yearlong narrative of fading momentum and persistent selling pressure.

The dour price action unfolded even as Charles Hoskinson, Cardano’s founder, struck a hopeful tone in a Christmas Day message to the community. In a post on X, Mr. Hoskinson described 2025 as a “long, hard year,” urging supporters not to let “the fire go out” and promising that “next year will be better.”

For many investors, the message rang hollow. ADA is down roughly 58 percent for the year and has lost about 15 percent in December alone, trading in a narrow range between roughly $0.30 and $0.36.

“It’s hard to talk about hope when the chart keeps making lower lows,” said one market analyst who tracks large-cap cryptocurrencies. “The price action has done more damage to sentiment than any single comment on social media.”

The founder’s holiday post quickly drew criticism. One user accused Mr. Hoskinson of selling ADA near its peak around $3 and failing to buy back at current, depressed levels — a charge that has circulated intermittently among frustrated holders.

Mr. Hoskinson rejected the allegation outright. “Repeating a lie doesn’t make it true,” he wrote in response, dismissing the claims as misinformation amplified by bots. He has consistently denied ever selling ADA at the top of the market.

The exchange came at a sensitive moment for the token. From a technical standpoint, ADA remains locked in a broader downtrend. While buyers have attempted to stabilize prices, rallies have repeatedly stalled below the $0.36 level, suggesting weak follow-through.

“The market is telling you that demand just isn’t strong enough yet,” said a technical strategist. “Until ADA can reclaim and hold above resistance, every bounce looks corrective.”

Traders are closely watching the $0.3380 to $0.34 zone, a level that has acted as near-term support. A decisive break below that area could accelerate losses toward $0.30 to $0.32, where historical support is limited. On the upside, resistance is clustered near $0.3750 to $0.38, with heavier supply waiting closer to $0.40.

Beyond price charts, on-chain data points to a steady erosion of confidence. According to DefiLlama, the total value locked across Cardano-based decentralized finance applications has fallen to about $215.5 million, down sharply from an August peak of $544 million. Analysts often view declining TVL as a sign of reduced user engagement and waning growth expectations.

Stablecoin activity has also softened. The total market capitalization of stablecoins on Cardano has slipped from a November high of roughly $40.5 million to about $37.7 million, suggesting lower transactional demand on the network.

Derivatives markets echo the same theme. CoinGlass data shows that ADA futures open interest has dropped sharply, from about $1.72 billion in October to roughly $651 million at the time of writing, indicating that leveraged traders have scaled back exposure.

Taken together, the data paints a picture of an ecosystem under strain, with cautious investors, thinning liquidity and fragile sentiment weighing heavily on prices.

“Cardano isn’t just fighting a technical battle,” said another analyst. “It’s fighting to restore confidence. Until the numbers start to turn, rallies are likely to be sold.”

For now, Cardano’s Christmas chart looks less like seasonal candy and more like coal — a stark reminder that in crypto markets, holiday optimism rarely overrides persistent bearish trends.

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