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Cardano faces shutdown wave as ADA falls 6.5%, founder warns more DeFi projects may fail in 2026

Market News
02 Jun 2026
BeInCrypto
View Source
Bearish
pluang ai news

Cardano is experiencing a wave of project shutdowns, including TapTools and the Hosky community, amid declining network activity and governance challenges. Founder Charles Hoskinson criticized the network's governance paralysis and warned more DeFi projects could fail in the second half of 2026. ADA's price dropped 6.5% to around $0.215, reflecting broader ecosystem struggles with user numbers at all-time lows and funding issues. The future depends on whether new funding or acquisitions can stabilize the ecosystem.

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