The post Cardano hits 2023 lows: How $3B loss fuels fear over ADA appeared on BitcoinEthereumNews.com.

The recent crash has pushed risk assets back toward critical levels. However, while some assets have only pulled back to pre-election ranges, several major high-caps have slipped to multi-year lows, making any meaningful recovery “relatively” more challenging in the near term.  Cardano [ADA] is one such high-cap. Down roughly 20% so far in 2026, ADA has slipped back to Q3 2023 price levels, drifting further away from the elusive $1 mark it surrendered during the post-election cooldown. Source: TradingView (ADA/USDT) In practical terms, the probability of a FOMO-driven expansion is fading. Notably, this technical weakness is now feeding into the fundamental narrative. In a recent interview, Cardano founder Charles Hoskinson revealed paper losses exceeding $3 billion across his crypto holdings. More importantly, the pace of drawdown is accelerating. The figure marks an increase of $500 million in unrealized losses since early January, when Hoskinson reported a $2.5 billion deficit, reinforcing the fragile backdrop. And yet, Hoskinson continues to advocate a long-term HODL stance, raising a key question: Is his “conviction” in ADA strong enough to sustain FOMO, or will the nearly $3 billion in losses instead deepen fear? ADA faces a key test between conviction and fear The timing of Hoskinson’s interview carries notable risk. From a sentiment standpoint, the disclosure could either strengthen confidence or trigger the opposite reaction, undermining holder trust as the market absorbs the scale of roughly $3 billion in unrealized losses. That’s where ADA’s technical positioning becomes especially important. As outlined earlier, the altcoin has broken down to multi-year lows, dragging its dominance back toward the COVID-era at under 0.5% of the crypto market. Source: TradingView (ADA.D) From a technical standpoint, this drop in dominance further highlights ADA’s structural weakness compared to its major rivals, pointing to fading capital rotation and limited participation in the…

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Filed under: News - @ February 7, 2026 9:29 am