5 hours ago
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Key Takeaways:
- ADA dropped below $0.19, hitting its lowest price in six years.
- JPG.Store and TapTools both shut down within the same six-week window.
- Cardano’s DeFi TVL sits at $123M, ranking 28th globally – behind newer chains.
- The community voted down its own Summit funding and is blocking IOG’s research budget.
On June 4, the token trades at $0.1862, down over 20% in a single week, sitting at its lowest price point in six years and roughly 94% below the $3.09 all-time high it reached in September 2021. That alone would be a difficult story to tell, but the price is not even the most damaging part of what has happened to Cardano over the past two months.
Two pillars gone in six weeks
JPG.Store, the NFT marketplace that had served as the primary entry point for retail users into the Cardano ecosystem since 2021, completed its full shutdown on May 23. Within weeks, TapTools — the analytics das...
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