Cardano (ADA) emerges as ecosystem hosting most dead crypto projects: report

The latest Alpha Quest report shows the Cardano (ADA) ecosystem ranks among the top blockchains hosting failed crypto projects.

The report considered low liquidity, delist from Coinmarketcap, inactive X accounts, and inaccessible websites to perceive a token as dead.

Cardano ecosystem plagued by dead coins

Cardano is among the leading players in the crypto market, rivaling the second-largest digital token by value – Ethereum. Despite several updates and developments, the ADA protocol has ranked as the platform with the highest dead assets.

According to the report, over 74% of crypto projects in the Cardano network are unresponsive. That’s a significant percentage for a leading smart contract platform.

ADA price outlook

Cardano’s price has lost its upside steam lately, flashing bearish tendencies. The alt traded at $0.5903 at press time. ADA has displayed notable fluctuations on its price charts, up 0.45% the previous day and down 5% over the past week.

Contrarily, competitor Ether yields significant return for its investors, gaining 7% on its weekly chart.

Indicators support more slides for the crypto, highlighting potential dips toward the $0.54 support barrier. The Awesome Oscillator (AO) and Moving Average Convergence Divergence’s (MACD) red bars suggest further declines for Cardano prices.

However, a sudden shift that welcomes candle closing beyond the $0.59 value area might cancel the predicted bearishness for ADA.

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