Cardano’s network activity just hit its highest level in four months. The number of active addresses on the chain reached 28,459 on June 5, according to data from Santiment. That is a notable jump for the network, but it’s happening at a strange time. The price of ADA is under pressure right now, and the broader crypto market isn’t helping. At the same time, social dominance for Cardano surged to its highest point of 2026, which sounds good on paper. But the sentiment behind that attention is mostly negative.
Bearish sentiment and founder warnings
The rise in on-chain activity could be tied to traders selling off their positions. A lot of the negative mood seems to stem from comments by Charles Hoskinson, Cardano’s founder. He recently said the ecosystem might face a “wave of failures” as projects shut down and funding gets tight. That’s not exactly the kind of confidence boost the market wants to hear. Hoskinson also made it clear he’s not the person to ask if you want ADA to return to its all-time highs. Those statements didn’t help the price, which fell to a local high of around $0.16 on Friday before dropping further.
AI prediction points to more downside
Finbold’s AI Agent has made a pretty bold prediction for June 30. It expects ADA to average a 42.4% decline over the coming weeks, landing at $0.109 by the end of the month. That seems steep, but the logic is tied to the current bearish sentiment and rising on-chain activity. When more addresses are active during a price drop, it often points to selling pressure, not accumulation. Still, it’s worth noting that the AI is just a tool, not a crystal ball.
What could change the outlook?
If ADA can reclaim its multi-year support level around $0.24, the bearish case might weaken. That would likely need some help from whales—large holders who can sometimes move the market. Without that kind of demand, the mid-term outlook remains pretty grim. For now, the indicators are mixed at best. Higher network usage sounds great, but not when it’s paired with falling prices and negative chatter. The next few weeks will probably tell us a lot about whether Cardano can stabilize or if the selloff has more room to run.
