币界网报道：Cardano's native token ADA has dropped over 85% from its September 2021 all-time high of $3.10, currently trading around $0.45. The decline comes despite significant network developments including the Alonzo hard fork enabling smart contracts in 2021 and recent scalability improvements through Hydra. Market analysts attribute ADA's underperformance to several factors: the broader crypto market downturn, intense competition from Ethereum and newer Layer 1 chains, and perceived delays in Cardano's development roadmap. Some investors express frustration with the pace of dApp deployment and user adoption on Cardano compared to rivals. However, Cardano founder Charles Hoskinson maintains the network is following a methodical, research-driven approach that will prove sustainable long-term. The Cardano community highlights upcoming upgrades like governance features through Voltaire and continued scaling solutions as potential catalysts. While ADA's price struggles, network metrics show growth with over 4.3 million native tokens created and increasing staking participation, currently around 63% of circulating supply locked in staking pools.