Topline
Cardano’s ADA token, once the world’s third-largest cryptocurrency, extended losses on Wednesday as it traded near a six-year low following the cancellation of its flagship conference and a broader crypto market selloff.
Cardano’s market value has plummeted by more than $80 billion in recent years.
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Key Facts
The value of Cardano dropped 2.3% over the last day to just over $0.21 as of Wednesday, the lowest level for the cryptocurrency since January 2021 ($0.17), according to CoinMarketCap.
That extends a 10% decline for Cardano over the last week after the Cardano Foundation—the Swiss-based nonprofit that oversees and promotes the development of the Cardano blockchain—said on May 30 it would cancel…
