Cardano's native token, ADA, slipped below $0.20 on Monday, plumbing depths not touched in roughly five and a half years. The decline marks a stunning reversal for a cryptocurrency that once sat comfortably among the top three by market capitalization, now down more than 90% from its all-time high.
From top-three to near-zero
At its peak, Cardano boasted a market cap of $101 billion — a figure that placed it alongside Bitcoin and Ethereum. That was then. Today, with ADA trading under $0.20, the market cap has cratered. The token's slide has been relentless, but this week's break below the $0.20 threshold is a psychological blow for holders who watched the project ride the 2021 bull run.
Selling pressure shows no signs of easing
The drop comes amid persistent selling momentum that has dominated the broader crypto market. No single catalyst stands out in Cardano's case — just a steady grind lower as sellers overwhelm buyers day after day. The token has been sliding for months, and Monday's move below $0.20 confirms that the downtrend remains firmly intact.
What that $101 billion peak means now
To put the fall in perspective: from a $101 billion market cap to its current valuation represents a loss of roughly $90 billion in nominal value. That's more than the entire market cap of most cryptocurrencies today. Cardano was once the third-largest crypto; now it sits well outside the top ten. The project still has an active development team and a vocal community, but the price action tells a harsh story of capital flight.
With no inflection point visible on the charts and selling pressure persisting, the question is where ADA finds a floor. The last time it traded below $0.20 was in early 2021, just before a rally that took it to $3.10. That kind of repeat feels distant now. For the time being, the token remains stuck in a downtrend with no clear catalyst to reverse course.
