Cardano's ADA fell below $0.16 for the first time since 2020 as founder Charles Hoskinson announced a social media break and key ecosystem tools shut down.

Founder Charles Hoskinson was brutally honest about the troubles the Cardano ecosystem could face as the market continues declining.

Hoskinson's remarks followed a string of setbacks for the ecosystem, including the cancellation of Cardano's flagship conference and the shutdown of a prominent analytics platform.