A bearish view has been raised publicly that Cardano's cryptocurrency ADA may never recover its all-time high, Decrypt reported on Oct. 24 local time.

Nebraska Gooner, known as a Bitcoin supporter, wrote on X, formerly Twitter: "ADA will never make a new all time high."

The comment came as ADA stays far below its previous bull-market peak. ADA hit an all-time high of $3.10 in September 2021 but has failed to return to that level despite several rebounds. After the U.S. presidential election in November 2024, it jumped to $1.30 but gave back most of those gains. It also rose above $1 at one point in 2025, but the recovery did not last and it fell again.

ADA is around $0.20, which is 93.26 percent below its previous peak. It would need to rise about 1,385 percent to test $3.10 again. Nebraska Gooner is interpreted as seeing little chance Cardano can break its long-term downtrend and surpass its previous high based on that gap. He did not present a separate technical analysis or specific grounds.

Cardano's internal ecosystem issues are cited as factors weighing on market sentiment. Concerns grew that the ecosystem has lost momentum as governance disputes deepened, the community's annual summit was cancelled and projects such as TapTools shut down. Some key community figures have also begun to distance themselves from Cardano.

This week, community figure Chris O said he would step down from his role as a DRep in the ecosystem. He disclosed that ADA is no longer his largest holding. He also criticised the Cardano Foundation, saying it fell short in expanding adoption and responding to competing networks. He cited speed differences, mentioning competing networks such as Sui.

As these conditions persist, investor sentiment around ADA has weakened further. Some also argue that governance issues and adoption concerns do not directly negate Cardano's long-term recovery potential. That is because network upgrade plans and efforts to expand the DeFi ecosystem still remain.

The Cardano camp is presenting plans such as a future launch of the Leios mainnet and an initiative called RealFi as drivers for a rebound. Market participants who maintain a long-term recovery view say such plans could help grow the DeFi ecosystem. Crypto analyst Captain offered the opposite outlook. He said ADA could reach a new high of $4 before the end of 2026.

That outlook, too, remains closer to an assumption given recent price weakness. ADA would need a very large rebound from current levels to recover its past peak, and internal uncertainties in the ecosystem would also need to be resolved. Debate around Cardano is expected for the time being to focus on both the possibility of a price rebound and the pace of an ecosystem recovery.

$ADA will never make a new all time high.