ADA Sees Heavy Losses, Down 4%, Though Leios Upgrade Hype Offers Market Optimism

Cardano’s ADA fell nearly 4% over the past 24 hours, continuing its recent slide even as excitement builds around the network’s anticipated Leios upgrade. ADA dropped to $0.5818, while trading volume surged 38.4% above its 7-day average, indicating strong market activity, according to CoinDesk Research’s technical model.

On Thursday, Input Output Global (IOG) — the core team behind Cardano — released new details on X about Leios, which is designed to dramatically improve transaction throughput and network efficiency. Among its key features are endorsements, intended to keep the blockchain running smoothly during periods of high traffic without sacrificing decentralization or security.

Originally unveiled in November 2022, Leios represents an upgrade to Cardano’s Ouroboros consensus protocol, addressing prior limitations not tied to hardware, but to the underlying algorithms in versions like Praos and Genesis. The new design introduces innovations like faster chain syncing, tiered transaction fees, and smarter resource allocation — changes that could mark a significant leap forward for the network.

Though highly technical, the upgrade is seen as potentially transformative for Cardano’s ecosystem. Founder Charles Hoskinson said on May 10 that Leios might launch as soon as 2026, ahead of the earlier 2028 estimate.

Meanwhile, on-chain data points to long-term holders accumulating ADA, as tokens continue to flow away from centralized exchanges — a sign of investor confidence despite price volatility.

Technical Snapshot

• 24-hour trading range: ADA moved across a 7.15% band, sliding from $0.605 to a low of $0.562 before partially recovering.
• Support zone: A surge in trading volume, peaking at 175 million ADA, established firm support between $0.562 and $0.576 during the 17:00 hour.
• Consolidation: ADA is stabilizing in a range between $0.573–$0.582 (support) and $0.582–$0.588 (resistance), indicating short-term consolidation.
• Volume signals: Lower sell-side volume into support suggests possible accumulation.
• Intraday action: A late-session drop saw ADA dip from $0.585 to $0.582 in a minor descending channel.
• Key inflection points: Significant spikes in volume were recorded at 12:39 and 12:48, each surpassing 1 million ADA, highlighting moments of heightened trading interest.
• Breakdown and rebound: ADA briefly broke below $0.583 during the midday sell-off but swiftly stabilized near $0.582, preserving its broader trend structure.