Saltık 
Cardano’s ADA token has been experiencing a price drop in recent days, with factors such as weakening on-chain metrics, decreased investor interest, and loss of liquidity negatively affecting the price. As of November 4, ADA fell for the third day in a row, losing 9.6% from $0.363 to $0.328.
Why is Cardano Price Falling?
According to TradingView data, ADA entered a downtrend from $0.363 on November 2, and fell to $0.328 on November 3. ADA is trading at $0.332, down 2.7% in the last 24 hours.
Might interest you: What is BabyDoge?
Weakening Onchain Cardano Metrics
Artemis data suggests that the decline in the ADA price coincides with the decline in investor interest and liquidity in Cardano. According to Artemis Terminal, ADA’s daily decentralized exchange (DEX) trading volume fell from $4.2 million on October 31 to $1.83 million on November 3, the lowest level since mid-October.
During this period, Cardano’s overall daily trading volume decreased by 51%, from approximately $545 million to $361 million. Additionally, DefiLlama data shows that the total value locked (TVL) on the Cardano network fell from $248.6 million on September 28 to $208.5 million as of November 4.
The decline in daily trading volume, DEX volume, and TVL parallels ADA’s 7% loss in value over the last 30 days, indicating that overall trading and trader interest in Cardano is decreasing.
You can join our Telegram channel to not miss the news and stay informed about the crypto world.