- ADA remains down roughly 90% from its 2021 peak, fueling frustration among some long-term investors.
- Community members are divided, with some exiting to Bitcoin while others continue accumulating.
- Whale accumulation and a potential break above $0.30 could shape Cardano’s next short-term move.
Cardano’s ADA once flirted with greatness. In late 2021, it nearly touched $3.10 — a moment that felt, at the time, like the beginning of something much bigger. Fast forward to today and the token sits around $0.29, down roughly 90% from its all-time high. That kind of drawdown doesn’t just bruise portfolios. It tests conviction.
For many investors, patience has worn thin. Popular crypto creator Jake Gagain recently called ADA one of his worst investments since entering the space. That’s not a subtle critique. It’s the kind of comment that lands harder when a token has had years to recover and still hasn’t reclaimed former highs.
Regret, Frustration, and a Divided Community
Gagain didn’t just vent — he also acknowledged Cardano’s strengths. He described its community as strong and loyal, and suggested the project still carries massive potential. But he questioned execution. In his words, it feels like the team wasted “such a great opportunity.”
That post lit up X.
Some users agreed, arguing that while Cardano’s supporters are among the most dedicated in crypto, development speed and delivery have been painfully slow. Years of roadmap promises can feel exhausting when price action doesn’t cooperate. A few commenters even said they were done with ADA — and maybe with altcoins altogether — choosing to rotate entirely into Bitcoin instead.
But not everyone sees it that way.
“Paper Losses” or Long-Term Play?
Others pushed back hard. One user, Michael Lesser, suggested critics simply misunderstand bear markets. Timing matters, he argued. If you have a long-term thesis and patience, unrealized losses are just that — unrealized.
There’s also the technology argument. Cardano has continued building through the downturn, expanding smart contract capabilities and scaling infrastructure. Optimists believe the real payoff hasn’t happened yet. Some investors proudly posted the “diamond hands” emoji, signaling they aren’t selling, no matter how long it takes.
Of course, crypto debates rarely stay contained. A few users pointed out that Gagain previously promoted meme coins like NEIRO, which briefly surged above a $1 billion market cap before collapsing to under $30 million. Compared to that trajectory, ADA’s drawdown — while brutal — looks almost stable.
What Comes Next for ADA?
Despite the frustration, Cardano has quietly participated in the recent market bounce. ADA is up about 9% on a weekly basis, and whale behavior suggests something interesting under the surface.
Large holders have accumulated roughly 820 million ADA over the past six months, pushing their combined holdings to around 25.36 billion tokens — nearly 70% of the circulating supply. That’s not small. When whales absorb that much supply, fewer tokens remain freely available on exchanges.
If demand stays steady or increases, basic supply mechanics could work in ADA’s favor. Whale accumulation also sends a psychological signal. Big capital stepping in tends to attract smaller players who view it as validation.
Technically, some analysts are watching the $0.30 level closely. A clean break and hold above that mark could open the door to $0.32, possibly even $0.34 in the short term. Nothing explosive — but momentum builds in layers.
Cardano’s story right now isn’t about hype. It’s about patience. Whether that patience pays off is still an open question. But one thing’s clear: the community hasn’t disappeared. Not even close.
