“The growth in Cardano’s technology has been amazing, and the best is yet to come,” one X user stroke back.
Cardano’s native token reached an all-time high of almost $3.10 in late 2021. Despite sporadic runs in the following years, it has not managed to break its record and is currently worth around $0.29, representing a staggering 90% decline from the historic peak.
The steep decline has left many investors frustrated, including popular content creator Jake Gagain, who described ADA as one of his worst investments since entering the crypto market.
Wasting “Such a Great Opportunity?’
Besides expressing regret over his investment, Gagain emphasized that Cardano still has a strong community and huge potential. He said he was disappointed to see the team waste “such a great opportunity” and asked his followers whether they still hold ADA.
His post on X sparked a heated debate, with many users sharing their experiences with the token. One person agreed with Gagain, arguing that Cardano’s community is among the most dedicated, “but the execution and speed have just been painful to watch for years now.”
The discontent was echoed by numerous others, some of whom pledged to step away from ADA and all altcoins for good and to shift their capital solely to Bitcoin (BTC) from now on.
Others differentiated from this thesis. X user Michael Lesser claimed that Gagain doesn’t understand the definition of a bear market, adding that his timing is bad.
“If you have an investment thesis and patience, ‘paper losses’ are just that. The growth in Cardano’s technology has been amazing, and the best is yet to come,” he said.
Many investors who remain optimistic said they would keep accumulating ADA, convinced that the token will set a new all-time high sooner or later. Some even flashed the “diamond hands” emoji to signal their determination not to sell under any circumstances.
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Meanwhile, certain X users attacked Gagain for promoting meme coins, which performed much worse than ADA. In the summer of 2024, for instance, he claimed that NEIRO could be the next “billion-plus dollar project” on the Ethereum blockchain. It is important to note that the asset’s market cap briefly surged above $1 billion in late 2024, but since then, it has been in a sharp decline, and its current capitalization stands at less than $30 million.
What’s Next for ADA?
Cardano’s native token has been among the biggest beneficiaries of the recent market resurgence, with its price rallying by 9% on a weekly scale. The recent whale activity suggests a further jump might be on the way.
As CryptoPotato reported, large investors have scooped up almost 820 million coins over the past six months, thus increasing their total holdings to 25.36 billion tokens, or nearly 70% of ADA’s circulating supply.
Big purchases of this type leave fewer tokens on the open market, which could result in a surging price (should demand remain constant or rise). Whales’ buying also sends a strong signal that they believe in the asset’s long-term future, and that confidence could draw smaller players into the ecosystem.
Some analysts observed ADA’s recent comeback and envisioned further gains if key levels are reclaimed. X user Nehal argued that breaking and holding above $0.30 could lead to a pump to $0.32 and $0.34.
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