Cardano Price Crashes 7.6% as US Treasury Yields Spike to Highest Level Since 2007

Nine years ago, Cardano's genesis block went live on its brand-new chain. Today marks nine years of the network's uptime, a milestone that few chains reach.

The genesis block has grown into a network with 2,890 stake pools and 13,978,119 blocks produced. It also boasts 123,982,111 total transactions and over 36,000 governance actions voted on, showing an actual process for people to argue, vote, and settle decisions on record.

The price of ADA fell over 7.6% in a day to $0.2388 as US Treasury yields spiked to their highest level since 2007. The drop lines up with a broader market flight from risk, fueled by a weak bond auction, hot inflation data, and fresh uncertainty around Trump's tariff stance on China.

The cause wasn't anything Cardano did. It was bonds. Rising oil prices added fuel to the fire, pushing inflation fears higher and bond yields even higher still. Rate swaps are now pricing in three more 25-basis-point Fed hikes over the next year.