Cardano's price has been on a downtrend, with bears taking control of the market and pushing prices lower. ADA has broken below $0.3600 and is currently trading at $0.3572.

Cardano's network is expected to experience significant growth due to recent developments. The Hydra team achieved important milestones in scaling efforts, addressing critical issues before integrating Hydra Head with real ADA.

The Cardano blockchain has achieved a major milestone by surpassing 500 million ADA in total value locked (TVL). This comes just a month after TapTools predicted a significant increase in the network's TVL. On-chain data shows that Minswap is the leading protocol on the network with a TVL of $55.56 million, followed by Indigo with $28.5 million locked. Despite the impressive TVL growth, the price of ADA has not been significantly impacted, with the cryptocurrency experiencing a steady decline in value over the past month. ADA currently ranks as the seventh-largest cryptocurrency with a total market cap of $12.79 billion.

Charles Hoskinson, the founder of Cardano (ADA), has criticized Ethereum Classic (ETC) as a scam project that serves only to allow insiders to take advantage of recruits with false hopes.

The global market cap fell by 1.18% in today's trading session, indicating a bearish trend. Bitcoin faced resistance at the $27K level and dropped by 1.3% in price valuation within a day of trading. Ethereum also recorded a drop in valuation, while Ripple gained 3.7% and dominated the session.

The first Hydra node that is compatible with the Cardano mainnet was launched on May 11th, according to developer Sebastian Nagel.

Cardano (ADA) has seen a 20% drop in price over the last month, currently trading at $0.36 and struggling to stay above a key support level of $0.35. The bearish outlook is at a critical point as the price action threatens to break lower trendline support. However, amidst this negative trend, the eco-friendly crypto project Ecoterra presents an attractive pre-sale opportunity with its innovative approach to integrating blockchain technology with sustainable practices. With a 30% return upon listing at $0.01, investors can benefit from Ecoterra's mission to promote sustainability through blockchain technology. While Cardano is experiencing a downward trend, it may be worth considering investing in Ecoterra, but it is important to remember that cryptocurrencies are volatile and risky investments, and individuals should conduct their own research before making any decisions.

Cardano's price has been declining over the past few days, leading to a strengthening of bearish sentiment and a dip of approximately 4.2% in the last 24 hours. The altcoin has depreciated by close to 10% over the past week, raising concerns about investors' interest in Cardano. The bears have gained strength, causing an important support level to be breached and subsequently transforming into a resistance level for the altcoin. Cardano is currently trapped within a range, lacking a clear price direction and gradually eroding buyer confidence. The altcoin's ability to reclaim the resistance level largely depends on the bulls' ability to defend the price above the immediate support level.

Charles Hoskinson, the founder of Cardano, has shown interest in Snek (SNEK), a newly launched meme coin on the Cardano blockchain. Hoskinson took to Twitter to inquire about Snek, which has gained popularity in the Cardano community. However, some critics believe that Hoskinson's tweet is just a tactic to promote the meme coin. Snek has a total supply of 76.7 billion tokens, with 50% distributed during the presale and the rest allocated for DEX liquidity, special utility, project treasury, and airdrops. The presale gained massive traction on Twitter, with over 2,000 ADA tokens sent to the presale address within minutes. Snek launched on the leading Cardano-based decentralized exchange SundaeSwap with a market capitalization of $275K and is currently trading at $0.0001021.

Despite the recent market dip, Cardano's DeFi ecosystem has seen a significant surge in activity, with transactions on Cardano DeFi apps increasing by 56% to 250,000 per epoch. This increase in transaction volume has been attributed to the launch of new DeFi protocols on the network and the active community of developers and users driving innovation for the protocol. Additionally, the recent hype around meme coins like Snek and Pepeblue has also contributed to the transaction surge.