Despite the price increase and the upcoming hard fork, Cardano faces bearish sentiment Some users are concerned that this may be a "violent" attack on Mt. Gox creditors, but others believe that this

Cardano faces bearish sentiment despite its recent price gains and impending technical upgrade. Cardano [ADA] has seen its market price increase by 3.9% in the past 24 hours to $0.4487, with year-to-date gains of approximately 41%. However, this positive trend contrasts with highly bearish sentiment among traders, which Santiment reports is the highest in over a year. The upcoming Chang hard fork, described by founder Charles Hoskinson, is considered a major update, but it has not significantly affected ADA’s market position and is still not among the top ten cryptocurrencies. Data from IntoTheBlock and Coinglass showed a decline in the number of large trades and open interest, pointing to waning investor enthusiasm. However, Cardano has reportedly seen an increase in decentralized exchange activity, suggesting a level of active participation in its DeFi capabilities. Analysts say that despite the current prevailing bearish sentiment, ADA may be on the verge of a major rally.