Cardano price stays weak as DeFi value hits one-year low

The Cardano price remains weak as network activity presents a mixed picture. Investing.com's Cardano market page listed ADA at 0.1733 US dollars on November 11. The page also showed a market capitalization of 6.39 billion US dollars, 24-hour volume of 213.32 million ADA and a rank of 15. Its displayed intraday change was minus 2.34 percent. The source did not provide a verified UTC daily-close comparison in the data read for this report.

DeFi value falls with ADA

CryptoTicker reported on November 9 that the total value locked in Cardano-based DeFi applications had fallen to 48.9 million US dollars, the lowest level in the previous 12 months according to DefiLlama data. The same report put the amount of ADA deployed in those protocols at about 281 million coins, broadly similar to early October. This distinction matters: the dollar decline largely reflected the weaker token price rather than a comparable short-term withdrawal of ADA from DeFi contracts.

CryptoTicker also reported that Cardano had completed five consecutive losing weeks by November 8. It cited 57.9 percent of circulating ADA as delegated in epoch 666, which began on November 4. These figures do not establish a price outlook, but they indicate that the recent weakness has not been accompanied by a complete retreat from staking and DeFi participation.

Dijkstra testing moves forward

Cardano's development roadmap is advancing on test networks. In its November 6 weekly update, Intersect said DijkstraNet had hard-forked to protocol version 12 using node 11.2 on November 2. The 11.2 software remained a pre-release for DijkstraNet and was not yet cleared for mainnet. Intersect also said a later node 11.3 release candidate was still at least two to three weeks away.

That timetable leaves no confirmed mainnet date for the upgrade. The testnet progress is therefore a technical milestone, not a near-term trigger that can be assigned to the ADA price. Investors watching the project should distinguish between development activity, a release candidate and an activated mainnet hard fork.

Amaru adds node diversity

A separate development concerns Amaru, a Rust-based Cardano node implementation maintained by PRAGMA. TokenPost reported that the November 5 release removed the restriction limiting block forging to test networks. The project's minimum viable block producer milestone was still open and was 75 percent complete on November 6, with a November 12 target. The release makes mainnet-capable forging possible, but it does not prove that a pool has already deployed the software or produced a mainnet block.

For now, the Cardano price is being assessed against weak dollar-valued DeFi deposits and an unresolved upgrade schedule, while the network's technical base continues to develop. The relevant Cardano topic page is available here.