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\n\t\t\t\t\t\t\t\t\tADA tumbled below $0.14 following the Hoskinson-induced FUD and overall market weakness but it has staged a notable comeback.\t\t\t\t\t\t\t\t<\/p>\n<\/p><\/div>\n
Cardano\u2019s founder and arguably the most important person behind the project caused some controversy in June, which led to a surge of fear, uncertainty, and doubt and a price collapse for the underlying token.<\/p>\n
However, ADA has decoupled from the rest of the larger-cap alts over the past week or so, posting a massive 40% surge from that multi-year low.<\/p>\n
It was a month ago when Charles Hoskinson said<\/a> he would be taking a break from Cardano and warned that multiple projects operating on the Layer-1 blockchain might face immediate failures. The impact on the native token was immediate and violent, with ADA plummeting from over $0.20 to under $0.19, then $0.16, and ultimately below $0.14 by the end of June, its lowest price since 2020.<\/p>\n The overall bearish market sentiment was also a factor behind ADA\u2019s collapse, and the subsequent revival has helped as well. However, while most larger-cap cryptocurrencies are up by 5-10% in the past week or 10 days, Cardano\u2019s native token has staged a significantly more profound recovery.<\/p>\n The asset soared by over 40% since that low and tapped $0.20 earlier today for the first time in a month. The analyst from Santiment Intelligence commented on the move, suggesting that ADA has decoupled from the other alts after \u201cpeak FUD created rifts in [the] community last month.\u201d<\/p>\n They added that the Cardano network is \u201cshowing signs of life again,\u201d with nearly 15,000 non-empty ADA wallets added since the recent bottom.<\/p>\n \u201cRetail support has been one of ADA\u2019s strongest traits even through ugly market stretches. After weeks of fear, this renewed holder growth suggests the crowd is gaining trust again after a short stretch of rapid market cap growth,\u201d Santiment concluded<\/a>.<\/p>\n<\/blockquote>\n Another major reason behind ADA\u2019s impressive revival has been the hype around the upcoming RealFi Phase 1 Testnet upgrade. Hoskinson described<\/a> it as the \u201clargest\u201d in the project\u2019s history and is scheduled to be completed by July 6.<\/p>\n Such moves typically excite the community and are often preceded by major price rallies for the underlying asset. Once they are completed, though, the actual \u2018buy-the-rumor, sell-the-news\u2019 event takes place, and the token tanks.<\/p>\n For now, ADA remains one of this week\u2019s top performers, climbing by 30% since last Sunday. Its market cap is back to $7 billion once again after it dipped below $5 billion recently.<\/p>\n\n
Or Possible Buy The Rumor Event?<\/h2>\n
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