Charles Hoskinson, founder of Cardano, admitted on July 27 during an X AMA that the project’s strategy must evolve in response to ADA’s prolonged underperformance. The token trades at $0.1566, down nearly 95% from its September 2021 all-time high of $3.09, and has already lost 53% year-to-date. Technically, ADA sits below its declining 50 and 200-day moving averages, with support at $0.14-$0.15 and resistance at $0.20-$0.25. The governance overhaul targeting 600 million ADA in backlogged treasury requests is a real structural move, but the market has yet to price in the catalyst.
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