ADA don drop under $0.16 as BTC dey slide; Hoskinson dey flag risk say Cardano fit shutdown

ADA don fall under $0.16 for di first time since 2020 as crypto market enter risk-off mode. Market cap drop about 4% to roughly $2.14T in 24 hours, and Bitcoin fall dey put pressure on altcoins. ADA don lose over 70% from im 2026 peak near $1.00. Charles Hoskinson talk say e go reduce public exposure because of ongoing personal attacks and toxic online environment, but e go still dey work on privacy-focused Midnight sidechain with lower profile. E warn say more Cardano projects fit shut down in H2 2026 after JPG Store and TapTools don stop operations. For trading mechanics, Bitcoin around $60,210 after slipping toward/under key levels. ADA lose of $0.247 support trigger liquidation wave, about 75% of liquidated positions na shorts. Analyst Ali Martinez point to possible downside targets at $0.11 and $0.051, keeping ADA outlook fragile. Governance add to bearish tone: Cardano Foundation cancel 2026 Cardano Summit, two proposals fail—7.8M ADA funding pass only 65.2% (below two-thirds threshold), while IO Global’s 32.9M ADA R&D request reject with over 80% voting against. Even with record social activity, Santiment say surge link more to bearish volatility than adoption. For traders, ADA weakness dey reinforced by market-wide sell pressure, liquidation dynamics, and worsened governance sentiment.