ADA has plunged to around $0.16, down 2.14% in 24 hours with trading volume plummeting 23% to $177.3 million, far from its all-time high near $3.10. The Cardano network logged only 21,700 daily transactions against 57,000 at its peak, while whales maintained selling pressure with a negative netflow of roughly $1.41 million this week. Facing this weakness, Cardano raised its treasury from 350 to 500 million ADA to fund infrastructure development and attract more DeFi protocols, of which there are only 62 on the network with a total value locked of $61.7 million. Despite this financial ammunition, analysts believe the treasury increase will not be enough to revive the ecosystem without increased demand.
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