Cardano Supporters Defend ADA As Price Stays Near $0.54

• A viral X post mocking Cardano’s lack of price movement drew thousands of reactions, reviving the “Cardano is too slow” narrative.
• Cardano holders countered that the chain has working tooling and DeFi, and that adoption; not tech, is what’s lagging.
• ADA traded around $0.5446 after a 47% multi-month drop, with bulls saying the current zone is still a place to build a rebound.

Cardano’s lack of upside movement was a subject of dark humor among a section of the crypto community. A famous crypto user with over 1.3 million followers on X, trolled Cardano holders over ADA’s relative price stagnation, triggering more jabs at the scalability-focused token and its supporters.

Viral Post Reignites “Cardano Is Too Slow” Argument

Many crypto users responding to the post aligned with the original opinion, citing Cardano’s lack of volatility. However, there were those who, besides the general mockery, believed in the cryptocurrency’s potential to succeed in the future. 

Such believers maintained the philosophy that patience may not be beautiful (not the exact expression used), but it eventually pays. 

Related: Hoskinson Labels Cardano’s TVL Slump “Non-Technical” As ADA Sheds 47%

The above-mentioned thread on X highlights the ongoing debate about Cardano’s future and the blockchain project’s sustainability. A debate that triggered a response from Charles Hoskinson, the founder and face of the Cardano project. According to Hoskinson, Cardano’s recent struggle has nothing to do with technicalities. Rather, it is a result of low user adoption of the project’s DeFi products.

Hoskinson Points To Adoption, Not Technology

In the meantime, Hoskinson emphasized the blockchain’s capabilities, highlighting its tooling and fertile ecosystem. 

Hence, he suggested that the adoption responsibility depended on the community members, who are not flowing into DeFi at the pace critics expect. In Hoskinson’s opinion, Cardano’s current issues can be fixed by better participation.

ADA Price Still Pressured After 47% Drop

It is worth noting that Cardano’s native token, ADA, has faced significant pressure over the past few months, declining 47% amid market pressure. The ongoing decline contradicts the expectations of many crypto users who maintained a bullish sentiment for ADA after the US government included the cryptocurrency in its list of Strategic Crypto Reserve earlier this year.

Data from TradingView reveals that ADA traded for $0.5446 at the time of writing, reflecting a drop into a notable support region. ADA bulls remain optimistic about a potential rebound that could change the cryptocurrency’s narrative despite the current negative sentiment.

Related: Cardano (ADA) Critical Warning: Why Losing $0.52 Could Trigger a Crash