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Cardano Price Retests Key Resistance as DeFi TVL Hits Record

July 4 (Cointime) - Cardano's price has been stagnant at $0.2972 for a while, despite other coins surging. This is due to the recent SEC decision to label it a security, causing Robinhood to delist the coin.

However, Cardano's DeFi ecosystem is thriving, with a record high of over 702 million ADA tokens locked in, worth over $202 million. On the other hand, Cardano's NFT ecosystem is not performing as well, with sales dropping from $10 million in March to $8.6 million in June.

The ADA price is currently in a strong bearish trend and may have a bearish breakout in the coming days, with the next level to watch being last month's low of $0.23277.

Cardano Cardano $0.90
+13.85%
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