Cardano Price Faces 22% Drop Risk as On-Chain Activity Declines

Cardano price continues to struggle in the volatile crypto market as heavy sell pressure weighs it down. On-chain metrics do not support a bullish outlook for the asset, further exacerbating the situation. Nevertheless, some good news just hit the market about ADA and some of its counterparts regarding regulatory clarity from the U.S. Securities and Exchanges Commission (SEC)—the Cardano (ADA) token is no longer considered a security.