Cardano pain remains high but ADA may be low: Sentiment

The once-considered “Ethereum killer” is in deep pain, wallowing in the depths of a bear market, but the bottom may be finally here, analysts say.

Cardano is showing early indicators with active wallets down 43% in invested capital over the past year, and ADA down 70% since September, Santiment said on Tuesday.

However, this extremely negative MVRV (market value to rental value ratio) is usually an indication that ADA is in an “opportunity” or “buying position,” they added.

“In a zero-sum game, where average returns are worst, this is an indication of future volatility for coins that remain at 0% MVRVs at any given time,” they said before adding:

“So when other traders are in dire straits, key stakeholders and professional traders are interested in this because of the reduced risk of buying or adding to their positions.”

Cardano Sentiment Crushed

Adding to the pain, Cardano’s Binance funding level shows its highest short-to-long term ratio since June 2023, which means traders are betting big on further declines.

“This historically is another important sign,” they said, explaining that currency rates always tend to end and “send prices when traders expect the least.”

ADA was once a top ten crypto, but now it has fallen to 13th place, below WhiteBIT Coin (WBT) and just above Bitcoin Cash (BCH).

ADA prices have gained 2.5% in the past 24 hours to reach $0.26, but the asset is down nearly 92% from its 2021 high of $3.09 and has failed to get anywhere near its 2025 crypto market peak.

📉 Average wallets operating on the Cardano network over the past year made a -43% return on their investment. Memes aside about the massive altcoin price drop -71% since September, this extremely negative MVRV value is indicative of $ADA to be… pic.twitter.com/LzQRKhobQe

– Santiment (@santimentfeed) March 24, 2026

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There was very little discussion or discussion about Cardano on crypto social media, but it is not the only altcoin that hurts.

Some Altcoins in severe pain

Solana is down nearly 70% from memecoin’s all-time high in January 2025, with SOL prices hovering around $90 at the time of writing.

Speaking of memecoins, Dogecoin (DOGE) is down 87% from its peak five years ago, while Bitcoin Cash (BCH) is down by the same amount.

Chainlink (LINK), the once-promoted standard for real-world asset tokens, has yet to see a boost from this narrative, down 83% from its 2021 all-time high.

Not all altcoins were deep in bear markets, however, with Tron (TRX), Hyperliquid (HYPE), and Leo (LEO) faring the best.