Cardano (ADA) Price: Bounces From Six-Year Low as Leios Testnet Launch Approaches June 23

TLDR

• ADA hit a six-year low of $0.148 before bouncing 12% to around $0.167
• The Leios testnet is set to launch on June 23, promising 33x transaction throughput
• On-chain data from Santiment shows dormant wallets moving, a sign long-term holders are active again
• Cardano’s DeFi TVL dropped by 41.9 million ADA in just five days
• Founder Charles Hoskinson says Cardano solved the blockchain trilemma but is losing the “narrative war”

Cardano’s ADA token has had a rough few weeks. The price fell to $0.148, its lowest level in six years, before bouncing back to around $0.167 as of June 9, 2026. That’s a 12% recovery over three days.

The drop came during a broader crypto market selloff. ADA is now down 87% from its cycle peak of $1.20.

Despite the price decline, the Cardano community has been focused on an upcoming upgrade. The Leios testnet is scheduled to go live on June 23. The community voted to approve the rollout on May 25.

Leios is one of the biggest upgrades in Cardano’s history. It aims to increase the network’s capacity from around 800,000 transactions per month to roughly 27 million — a 33x improvement.

The Cardano Foundation expects the full mainnet rollout to happen between October and December 2026.

Dormant Wallets Are Moving

On-chain analytics firm Santiment flagged unusual activity in ADA wallets over the past several days. According to Santiment, ADA’s Mean Dollar Invested Age had been climbing steadily, then dormant wallets began making large moves.

Age Consumed — a metric that tracks when old coins move — produced multiple spikes over four to five days, including its largest surge since April.

Santiment noted that these signals don’t guarantee a price reversal, but that historically, clusters of Age Consumed spikes have appeared around key market turning points.

Network Activity Remains Weak

Not all the data points the same direction. Cardano’s DeFi TVL dropped from 593.93 million ADA on June 4 to 552.01 million ADA on June 9, a loss of nearly 42 million ADA in five days, according to DeFiLlama.

DEX volume on Cardano also fell from $10.77 million on June 5 to $2.43 million on June 9. The stablecoin supply on the network shrank from $54 million to $46 million over the same period.

Two Cardano projects — TapTools and JPG Store — shut down between May 27 and June 3, adding to concerns about ecosystem health.

Founder Charles Hoskinson acknowledged in a recent podcast that Cardano has failed in the “narrative war,” even while arguing it is the only chain that has solved the blockchain trilemma of throughput, security, and decentralization.

The RSI on the four-hour chart stood at 46 as of June 9, with bears still in control, though the indicator has been rising from oversold levels near 12.

Technical analysis suggests a rounding bottom pattern could push ADA to $0.195 if the $0.174 resistance level is broken.

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