Cardano ADA price hits year-low amid DeFi slump and SEC classification concerns

Cardano’s ADA price has fallen to its lowest value in a year after slight declines in decentralized finance activity on the blockchain network.

As per data from CryptoSlate, ADA is currently trading at $0.245, marking a 1.06% decline on the year-to-date metric. Interestingly, this price point represents the lowest value ADA has reached since the beginning of the year, effectively nullifying all the gains it had accrued throughout the year.