Cardano (ADA) closed June with a 16% price drop, continuing its months-long downtrend. Surprisingly, this decline happened despite two major ecosystem developments that should have boosted investor confidence.
Positive News, Negative Price Action
June brought significant announcements for Cardano:
Cross-chain integration with XRP (June 14) – A move to improve liquidity and interoperability
Coinbase’s cbADA launch (June 25) – A wrapped version of ADA on Base L2 to enable DeFi participation
Yet, these milestones failed to stop the bleeding. Data shows $182.1 million in spot market outflows during June, indicating strong selling pressure and waning investor interest.
Why ADA Keeps Falling
Several concerning trends emerged:
ADA Percent of Total Supply in Profit. Source: Santiment
Only 45.97% of ADA holders remain in profit (down 27% in a month)
The Elder-Ray Index shows persistent seller dominance since mid-June