Cardano (ADA) Faces Challenges Amidst Market Downturn

卡尔达诺（ADA）在市场低迷中面临挑战

Cardano (ADA), a prominent layer-1 blockchain network, is navigating a challenging period marked by significant market value declines and a drop in its cryptocurrency rankings. Recently, ADA slipped to the tenth position in terms of market capitalization after experiencing a steep price correction.

卡尔达诺（ADA）是一个著名的第一层区块链网络，它正在经历一个充满挑战的时期，其特点是市值大幅下降，其加密货币排名也有所下降。最近，ADA在经历了急剧的价格调整后，市值滑落至第十位。

Over the past month, the price of ADA has plummeted by approximately 28 percent and has registered a near 22 percent loss since the beginning of the year, as reported by CoinMarketCap. While this decline reflects broader trends in the cryptocurrency market, it also highlights specific challenges facing Cardano.

据 CoinMarketCap 报道，过去一个月，ADA 的价格暴跌约 28%，自年初以来已下跌近 22%。虽然这种下降反映了加密货币市场的更广泛趋势，但它也凸显了卡尔达诺面临的具体挑战。

Profitability Comparison with Other Cryptocurrencies

与其他加密货币的盈利能力比较

According to Coin Edition, recent insights from IntoTheBlock indicate that only around 35 percent of Cardano (ADA) holders are currently in profit. This figure stands in stark contrast to the profitability rates of other leading cryptocurrencies, such as Bitcoin (BTC) and Ethereum (ETH), where 86 percent and 81 percent of holders, respectively, are seeing gains.

据 Coin Edition 报道，IntoTheBlock 的最新见解表明，目前只有约 35% 的卡尔达诺 (ADA) 持有者实现盈利。这一数字与比特币 (BTC) 和以太坊 (ETH) 等其他领先加密货币的盈利率形成鲜明对比，其中 86% 和 81% 的持有者分别看到了收益。

This disparity has amplified concerns regarding Cardano's demand and appeal, particularly as the number of investors experiencing losses grows.

这种差异加剧了人们对卡尔达诺需求和吸引力的担忧，特别是随着遭受损失的投资者数量增加。

ADA's market performance has also impacted its standing in comparison to other cryptocurrencies. Over the past month, ADA has been overtaken in terms of market value by Dogecoin (DOGE) and Toncoin (TON).

ADA 的市场表现也影响了其与其他加密货币相比的地位。过去一个月，ADA 的市值已被狗狗币 (DOGE) 和 Toncoin (TON) 超越。

Furthermore, the average unrealized loss across the network has widened to 15.71 percent, implying that if ADA holders were to sell their assets at the current market price, they would incur an average loss of 15.71 percent. This metric underscores the loss of value and investor confidence in the asset.

此外，全网平均未实现损失扩大至 15.71%，这意味着如果 ADA 持有者以当前市场价格出售资产，他们将遭受 15.71% 的平均损失。该指标强调了价值的损失和投资者对资产的信心。

Declining On-Chain Activity

链上活动下降

ADA's market value decline has been compounded by a noticeable drop in on-chain activity. Data from Santiment reveals that daily active addresses on the Cardano network have plummeted from over 70,000 at their peak to around 30,000 currently.

链上活动的显着下降加剧了 ADA 市值的下降。 Santiment 的数据显示，Cardano 网络上的每日活跃地址已从峰值时的 70,000 多个骤降至目前的 30,000 左右。

This decrease in the number of active addresses is a clear indicator of declining engagement and transaction volume, which can further impact the network's vitality and attractiveness to new users.

活跃地址数量的减少是参与度和交易量下降的明显指标，这可能会进一步影响网络的活力和对新用户的吸引力。

Despite these setbacks, it is important to consider the cyclical nature of cryptocurrencies and the potential for ADA's recovery. Historical trends suggest that ADA may enter a super cycle in 2025, potentially propelling it to new highs.

尽管遇到这些挫折，重要的是要考虑加密货币的周期性和 ADA 复苏的潜力。历史趋势表明，ADA 可能会在 2025 年进入超级周期，并有可能推动其再创新高。

This projection is based on patterns observed following significant events in the cryptocurrency space, such as the Bitcoin halving in 2020.

该预测基于加密货币领域重大事件（例如 2020 年比特币减半）后观察到的模式。

However, investor sentiment towards ADA remains tepid at present. Analysis from Santiment reveals that large-scale holders, or whales, have become net sellers, consistently reducing their holdings over the past few months.

然而，目前投资者对 ADA 的情绪依然不温不火。 Santiment 的分析显示，大型持有者或鲸鱼已成为净卖家，在过去几个月中持续减持。

This trend indicates a lack of substantial buying interest even as prices decline, raising questions about the long-term commitment of large investors to the network.

这一趋势表明，即使价格下跌，仍缺乏大量购买兴趣，引发了人们对大型投资者对该网络的长期承诺的质疑。

ADA/USD Price Action

ADA/美元价格走势

Focusing on the ADA/USD price action, the 4-hour chart reflects the prevailing bearish sentiment. After hitting a crucial price level on April 12, ADA experienced a sharp 32.15 percent decline.

关注 ADA/美元 价格走势，4 小时图反映了普遍的看跌情绪。在 4 月 12 日触及关键价格水平后，ADA 经历了 32.15% 的大幅下跌。

Currently, the price is trading around the 38.20 percent Fibonacci retracement level. If ADA can close above this level, it could signal a potential reversal of fortune, potentially pushing it towards the 50 percent Fibonacci level and above existing resistance levels.

目前，价格交易在 38.20% 斐波那契回撤位附近。如果 ADA 收盘价能高于该水平，则可能预示着命运可能发生逆转，有可能将其推向 50% 的斐波那契水平并高于现有阻力位。

Conversely, if ADA continues to move lower and closes below the 38.20 percent Fibonacci level, it could indicate further downside. Such a move could see it retesting lower support levels.

相反，如果 ADA 继续走低并收于 38.20% 斐波那契水平以下，则可能表明进一步下跌。此举可能会导致其重新测试较低的支撑位。

A decisive break below this support could lead to further downward momentum, aligning with the bearish target.

果断跌破该支撑位可能会导致进一步下行势头，与看跌目标保持一致。