Why Has Cardano Struggled To Surpass The $0.30 Price Barrier?

August 22, 2023

We’ve come a long way since the early days of crypto. Now, there are thousands of cryptocurrencies out there, many of which are built using the most amazing, cutting-edge technology and supported by teams of expert developers.

Cardano is a blockchain platform that uses the ADA cryptocurrency. It has been touted as the future of the industry and has several key advantages over rival assets. However, Cardano has seen a decline over the past year and has struggled to surpass the $0.30 price barrier. Why is this? To find out, we’ve analyzed the Cardano price chart and evaluated the wider crypto market. Read on to learn more.

Cardano’s Price History

Cardano is a blockchain network that was first launched in October 2017. It was designed by a team of Ethereum developers, who wanted to create an asset that could rival Ethereum and Bitcoin.

Cardano got off to a positive start, rising to a price of $1.33 just three months after its launch, an impressive price for a new cryptocurrency in a saturated market. Unfortunately, this early boom wasn’t to last, and Cardano struggled for the next two and half years, with the price never exceeding $0.10.

However, in the beginning of 2021, Cardano’s value started to grow. This marked the start of an extended bull run for the asset, which saw it reach an all-time high of $3.10 on the 2nd of September 2021. Cardano investors will have been thrilled and will have hoped this represented a turning point for the asset that would see it grow exponentially.

Unfortunately, Cardano failed to maintain this positive run and has yet to return to the highs seen during 2021. Its highest price since that point is $1.25, which the asset reached in March 2022. Largely, Cardano has hovered at around the $0.30 point, rarely rising or falling very far above or below that threshold.

Why has Cardano stagnated and struggled so badly? As with anything in the world of investments, the answer is complex and multi-faceted, and it cannot be attributed to one singular cause.

The Crypto Bear Market

The Crypto Bear Market

The cryptocurrency market is much like any other, it goes through peaks and troughs and periods of growth and decline. When the market goes through a period of extended shrinkage, this is known as a bear market. It can be a particularly tough time for traders and investors, but also offers an opportunity for people to pick up assets at cut prices.

Regardless, growth is slow if not non-existent during a bear market, and this can be seen across the entire crypto industry, from the top assets like Bitcoin all the way down to smaller, more obscure coins.

Bear markets can happen for all sorts of reasons. They can often occur after bull markets, which are extended periods of growth, triggered by natural decline after temporary highs. They can also be triggered by external events. The war in Ukraine and the cost of living crisis around the world is a likely factor contributing to the bear market the industry finds itself in today.

For Cardano, the wider stagnation of the crypto industry is preventing the asset from surpassing the $0.30 threshold. Investors will need to wait until the market turns before they will see the asset appreciate in value.


Cardano was conceived as a direct competitor to Ethereum. While the asset is powered by incredible technology and is highly regarded for its ethos and values, it has its work cut out for it if it wants to topple Ethereum, which has long ruled the roost as the second-largest and most powerful cryptocurrency after Bitcoin.

Experienced investors and traders who are highly knowledgeable about the crypto industry might well decide to add Cardano to their portfolio. However, if the asset wants to reach the next level and break through the $0.30 price barrier, it’s going to have to find a way to achieve mainstream appeal similar to that enjoyed by Ethereum and Bitcoin.

How it does this is a question for the developers. However, it will likely require a multi-pronged approach with clever marketing and a push for further integration to succeed.

Regulatory Issues

Cryptocurrencies are a relatively new investment option. While things like stocks, shares, and commodities like gold have been around for hundreds of years, cryptocurrencies have only existed for around 14 years.

As a result, they are still treated with a degree of suspicion, both by investors themselves and by regulatory bodies who sanction and control markets and investment options.

For a number of years, cryptocurrencies existed on the outskirts of regulatory control. This came with both pros and cons; they were free of strict controls and could operate without regulatory oversight but were also regarded as unpredictable, risky, and even dangerous.

Recently, we’ve seen regulatory bodies like the Federal Trade Commission (FTC) pay closer attention to crypto, and fears of incoming regulatory crackdowns have spooked investors and seen prices falter.


Cardano is one of the most exciting cryptocurrencies on the market today. However, it has struggled in recent times and has failed to maintain a price higher than $0.30. While things look slow for Cardano at the moment, things can change quickly in the world of crypto, and there could be a bull market around the corner.

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Abdul aziz Mondal

Abdul Aziz Mondol is a professional blogger who is having a colossal interest in writing blogs and other jones of calligraphies. In terms of his professional commitments, he loves to share content related to business, finance, technology, and the gaming niche.

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