Can Cardano’s price bounce back from record low before Leios testnet launch?
April 11, 2026
Cardano has experienced a significant decline in price this year, hitting an all-time low despite the recent Midnight mainnet launch. Currently trading at $0.25, slightly higher than the record low of $0.2168, many are wondering if the cryptocurrency will bounce back in anticipation of the upcoming launch of the Leios upgrade testnet in June.
The imminent release of the Leios upgrade is highly anticipated within the crypto community, as it is expected to be the most significant update to the Cardano network since its inception. The testnet for the upgrade is set to go live in June, with the mainnet launch scheduled for later this year. Once operational, the upgrade will enhance transaction speeds by introducing parallel processing, which will incorporate ranking blocks, endorsement blocks, and validation committees, enabling the network to process thousands of transactions per second more efficiently.
In addition to the Leios upgrade, other recent developments on the Cardano network have been promising. The launch of Midnight, the privacy-focused sidechain, has already secured notable partnerships with entities like Momentum Bank, which plans to tokenize assets worth millions on the network. Collaborations with Sundae Labs, Fluid Tokens, Houdini Swap, and SecondSwap have further strengthened Cardano’s position in the market.
As part of the Pentad proposal, Cardano has made strides in expanding its network by introducing new oracles, stablecoins, and analytics tools. Recent additions such as Pyth Network as an oracle in December and Dune Analytics and USDCx to its network highlight the platform’s commitment to growth. Notably, Cardano reached 120 million transactions, while VolatilityShares introduced the first Cardano futures ETFs.
Despite these advancements, Cardano has lagged behind other popular chains, struggling to attract significant value and activities compared to competitors like Solana and BSC Chain. With just $137 million in total value locked (TVL), Cardano’s stablecoin supply of $48 million falls short compared to Ethereum’s $165 billion and Solana’s $16 billion. It also faces stiff competition from Tron, with $86 billion in stablecoin supply.
Cardano’s financial performance has been lackluster, making only $60,700 in March, significantly lower than its peak fee revenue of $977k. While its market capitalization exceeds $9 billion, the network lacks extensive network activities, earning it the reputation of being a ‘ghost chain.’
Technically, Cardano’s price has undergone a massive downtrend, dropping from a high of $3 in August 2021 to its current $0.2525 level. Violating crucial support at $0.2825, the token has remained below the 50-day moving average, with the RSI signaling oversold conditions. The ADX at 34 suggests an increasing downward trend, potentially pushing the token to a new all-time low at $0.200.
