Cardano (ADA) Falls 24.5% in 30 Days as Bitcoin Drops 8.6%
Cardano's ADA token has dropped 24.5% over 30 days to November 8, 2026, nearly three times Bitcoin's 8.6% fall and the worst among the top 20 cryptocurrencies. It trades at $0.179, 94.2% below its 2021 high.
Cardano's ADA token has fallen 24.5% over the 30 days to November 8, 2026, while Bitcoin has dropped 8.6%. That is nearly three times Bitcoin's decline and the worst 30-day showing among the top 20 cryptocurrencies. Cardano is down 24% in 30 days and Bitcoin 8%, and the question now is whether ADA can recover.
ADA trades at $0.179, down 7.2% over the past week. It sits below its lowest close of the past month, $0.181 on November 5. Its 30-day high close was $0.252 on October 11.
The token is also 94.2% below its all-time high of $3.09, set in September 2021.
No U.S. spot ETF
One reason for the deeper slide is the lack of a U.S. spot exchange-traded fund, a fund that holds the coin directly. Bitcoin has steady institutional buyers through its ETFs. Cardano does not.
Grayscale withdrew its Cardano Trust ETF registration on August 7. That was two days before ADA became eligible under the SEC's generic listing standards. The eligibility came on August 9, when the six-month period of CME futures trading that a coin must complete before spot funds qualify ended.
Weak against the wider market
Altcoins, meaning cryptocurrencies other than Bitcoin, have had a tough month. Ethereum fell 10.4% over the same period. ADA's drop was steeper, which points to weak demand specific to Cardano.
ADA also missed the summer rally. Over the last 90 days, Bitcoin gained 18.5% while ADA lost 6.1%.
Network activity tells a similar story. Cardano's active addresses have fallen from a peak of 3.6 million in November 2021 to about 189,900, according to an August report. Fewer active users means fewer natural buyers when markets turn bearish.
The math behind $0.25, $0.50 and $1
Cardano's market cap is $6.73 billion. About 37.58 billion ADA are in circulation, against a maximum supply of 45 billion. Continued supply growth makes every price level harder to reach.
At $0.25, ADA would trade near its October 11 close and above its 50-day average of $0.23. ADA last traded above $0.50 in November 2025, closing at $0.592 on November 10, 2025. Reaching $1 would take a gain of more than 5.5 times.
A $1 price would also require a market cap of about $37.57 billion. ADA closed at $1.18 on January 3, 2018, when its market cap was $30.58 billion. With more coins outstanding today, matching its former peak market value would work out to a price below the $3.09 high.
Cardano has recovered from steep declines before. After the $1.18 close in early 2018, ADA plunged 97.7% to $0.0276 by December 2018 and hit an all-time low of $0.01925 in March 2020. It then surged to $3.09 in September 2021. That rebound took a full bull market and nearly three years.
A new ETF filing from a major issuer could signal a return of institutional demand. Bitcoin held 59.5% of the crypto market in late October, so most money still flows into BTC. When Bitcoin's share falls, altcoins typically gain.
