Cardano’s Christmas chart looks more like coal than candy

Cardano delivered a less-than-festive gift to investors this Christmas, with price action painting a grim picture as the token remains deep in the red.

Founder Charles Hoskinson found himself fending off accusations on X after wishing followers a Merry Christmas on Dec. 25. In his post, Hoskinson described 2025 as a “long, hard year,” urged the community not to let the “fire go out,” and promised that “next year will be better”—a message that landed awkwardly with ADA down 58% year-to-date.

It didn’t take long for the holiday cheer to evaporate. One X user accused Hoskinson of selling ADA near the $3 peak and now refusing to buy back at current levels around $0.30–$0.36. The critic questioned how investors could maintain faith in the project if its founder won’t step in at depressed prices.

Hoskinson responded swiftly, flatly denying that he ever sold ADA at $3. Repeating the claim, he said, doesn’t make it true. He brushed off the accusations as misinformation amplified by bots, dismissing the narrative entirely.

Technical analysis

The timing of the spat is notable. ADA has shed 58% so far this year, including a 15% drop in December alone. Technically, the chart hasn’t been kind. See below.

Bulls are attempting to hold the line, but follow-through has been weak, with ADA failing to reclaim $0.36 on rallies.

The critical zone to watch remains $0.3380–$0.34. A breakdown there could open the door to accelerated selling toward $0.30–$0.32, where historical support is thin. On the upside, resistance waits at $0.3750–$0.38, followed by heavier supply around $0.40–$0.41.

Cardano reinforces year-long trend of steady selling pressure

According to data from DefiLlama, the total value locked across all DeFi protocols built on the blockchain dropped to $215.5 million from its August high of $544 million. Declining TVL hints at lower user participation and could point to investors losing confidence in the network’s growth potential.

The total market cap of stablecoins on the blockchain has also dropped, from a November high of $40.48 million to $37.68 million at press time.

Leveraged traders have also seemed to have lost interest in the token. Data from CoinGlass shows that ADA Futures open interest has dropped from $1.72 billion observed in October to $651 million when writing.

Together, these deteriorating metrics have kept investors cautious and sentiment fragile, which has weighed heavily on price performance.