Cardano Falls to Six‑Year Low After Major SecondFi Wallet Exploit

Overview

• The Cardano token ADA plunged to multi‑year lows after the SecondFi wallet protocol was reported exploited on Thursday, losing about 129 million ADA (roughly $20 million) and triggering heavy selling.
• On‑chain activity spiked as active addresses rose to about 29,000 and social dominance climbed to 0.33 percent, a pattern that has previously marked panic-driven peaks in engagement rather than clear buying conviction.
• Technically, ADA has lost the $0.148–$0.150 support zone which now acts as resistance and chart analysts cite next downside targets near $0.1369 and $0.1278 if selling continues.
• Some traders note a short‑term TD Sequential daily buy signal that could produce a bounce, but analysts warn that failure to reclaim resistance between $0.160 and $0.176 would likely turn any rally into a bull trap.
• Longer‑running stresses — Charles Hoskinson’s stepping back, recent treasury funding fights, and project or tooling shutdowns — have reduced the ecosystem’s safety cushion and raise the risk that security and governance problems slow recovery for users and developers.