2025-12-24 12:24:31

Who still remembers the market boom during the "election cycle" half a year ago? ADA taught us a lesson with nearly brutal declines.

The data is in front of us: the price has fallen back to around $0.30, active addresses dropped from 93,000 straight down to below 25,000. Even more painfully, TVL has been surpassed by the new public chain SUI by more than 4.5 times, and large whales quietly sold over 120 million tokens in two months. The project once touted as the "Ethereum killer" has seen its market cap shrink by 64%, and even BCH is eyeing a spot in the top ten.

Is this a buying opportunity born from the decline, or has it completely become a "zombie chain" barely holding on with past glories? This question is not even the most critical.

What’s more worth pondering is: every time high-narrative, high-volatility assets go through a "faith collapse cycle," should our investment portfolios include some assets completely isolated from narrative risk?

This is precisely why more and more traders are starting to focus on value storage tools that do not rely on any narrative, but are purely guaranteed by transparent rules and mathematical mechanisms—such as stablecoin systems based on over-collateralization.

The difference is: one bets on whether a project will rebound, while the other does one thing—using on-chain real-time verifiable over-collateralization to ensure that each unit of currency always corresponds to the value of the respective fiat currency.

While the market is still debating the "active address growth" of a certain project...

ADA-2.2%

SUI-2.11%

ETH-0.25%

BCH-2.02%

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RektRecorder

· 6h ago

ADA this wave, really a textbook-level "faith kill," whales are running faster than anyone else. That's why I now prefer stablecoins over betting on projects that rely on narratives.

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CryptoHistoryClass

· 6h ago

ah, *checks notes* the classic "ethereum killer" graveyard shift... narrative collapse hitting different when whales already cashed out

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WhaleShadow

· 6h ago

ADA's recent crash is truly incredible. The former narrative king has been taught a harsh lesson by reality, and whales are fleeing faster than anyone else.

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4am_degen

· 6h ago

Six months ago, people were still hyping ADA as the Ethereum killer, and now it’s become a industry joke. The contrast is truly incredible... Faith is such a thing; it can collapse at any moment, and whales run faster than anyone. It’s better to honestly stick to the over-collateralized mechanism of stablecoins; at least math doesn’t lie. Another high-narrative project dies in its own story. Wake up, everyone. Who wasn’t cut during the election cycle? ADA at 0.3 is really just for fun. I see this as a living lesson—don’t put all your eggs in one project’s basket. When SUI is 4.5 times higher, are you still waiting for a rebound? Active addresses dropped from 93,000 to 25,000. This data says it all; no matter how compelling the project’s story is, it’s all in vain. Narrative risk should have been taken seriously long ago, but unfortunately, most people only realize it when they’re caught in a trap.

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