Cardano (ADA) has made headlines once again, this time for outpacing Ethereum in core development activity. Fresh data from Cryptometheus shows Cardano logged nearly 21,500 GitHub commits over the past year. That activity, spread across 550 repositories, made it the most actively developed blockchain of the past month.
This work highlights Cardano’s sharp focus on its infrastructure and governance, especially with the recent launch of CIP-1694 and the Cardano Constitution, which both went on-chain in February 2025.
JUST IN: Cardano $ADA has officially surpassed Ethereum in total core development commits over the past year—now leading all blockchains by GitHub activity. pic.twitter.com/vQfKr56akH
— TapTools (@TapTools) May 25, 2025
But while developers are busy, Messari’s Q1 2025 report offers a more sobering look at ADA’s recent market numbers.
Messari’s Q1 2025 Report: A Tough Quarter for ADA Market Cap, Price
Messari’s Q1 data shows ADA’s market cap dropped 21% Quarter-over-Quarter (QoQ) to $28.8 billion. Its price also slid 22% in that period, down to $0.66. Meanwhile, Cardano’s DeFi total value locked (TVL) pulled back 29%, and average daily transactions fell 28% to about 51,500.
One interesting bright spot in the Messari report: Cardano’s stablecoin market cap actually climbed 30% QoQ, hitting $30.2 million. USDM and USDA are the main drivers of this stablecoin growth. ADA staking activity, in terms of pure ADA numbers, held steady. However, the U.S. dollar value of that staked ADA dropped 22%, directly reflecting ADA’s price decline.
Related: Cardano’s Hoskinson: “Private Money” Is Possible in Argentina Within Next Five Years
Technical Analysis: Where is ADA Price Headed Next?
Looking at the charts below, ADA currently trades at $0.7733. It’s holding just above a key Fibonacci cluster, showing some signs of strength despite those weaker Q1 fundamentals. The $0.75–$0.76 zone (lining up with Fib 0.382–0.236 levels) stands as a vital support area. Immediate resistance for ADA is at $0.8845 (the Fib 0.786 level), with another hurdle at $0.9320 (the 1.0 extension).
Source: TradingView
On the other hand, the Balance of Power (BoP) is hovering at +0.71, indicating underlying bullish pressure despite short-term volatility. Meanwhile, the Accumulation/Distribution (A/D) line remains strong at 51.74B, showing that whales and smart money have not abandoned ADA.
Hoskinson on ETH: Founder Casts Fresh Doubts on Ethereum’s Future
Meanwhile, Cardano founder Charles Hoskinson has again cast serious doubts on Ethereum’s long-term relevance. He predicts ETH could decline significantly within the next 10 to 15 years. Hoskinson believes Ethereum’s reliance on Layer-2 solutions will ultimately suck value from its base layer, sparking internal conflicts and causing users to migrate elsewhere.
Related: Charles Hoskinson, Vitalik Buterin Duke It Out Over ZK-Proofs, Ethereum Design
Hoskinson criticized Ethereum’s architecture, governance, proof-of-stake, accounting model, and virtual machine as “self-inflicted wounds.” Despite his harsh critique, he welcomed Vitalik Buterin’s proposal to replace the Ethereum Virtual Machine with RISC-V.
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