[Digital Today reporter Jinju Hong] Crypto analyst Dan Gambardello (댄 감바델로), known as a Cardano (ADA) supporter, disclosed that he moved part of his ADA into other altcoins such as Sui (SUI).

On June 5 (local time), blockchain media outlet The Crypto Basic reported that Gambardello said he recently diversified part of his portfolio outside Cardano during a sharp market selloff.

The comments came as ADA fell sharply. ADA dropped as low as $0.1584 intraday on June 5, falling below $0.16. It later rebounded to around $0.1689, but was down 16.01 percent over 24 hours and 29.25 percent over a week. Its global cryptocurrency ranking also slipped to 15th from 13th.

Gambardello said he still holds ADA, but raised questions about Cardano’s current governance, leadership and branding. He asked Cardano supporters whether they are satisfied with the ecosystem’s current direction. He argued that diversification could be reasonable when major altcoins are falling at the same time.

Gambardello said a sharp selloff could be an opportunity to restructure a portfolio. He mentioned that during capitulation, investors can review asset allocation and also consider tax-loss harvesting. As a figure who has publicly supported Cardano for years directly mentioned the possibility of reducing his ADA weighting, reactions within the community intensified. Some followers expressed disappointment at cutting exposure after long-standing support.

Pressure inside the Cardano ecosystem also underpinned the stronger market reaction. TapTools and JPG Store (JPG.store), network-linked projects, recently shut down operations. In this situation, Cardano founder Charles Hoskinson (찰스 호스킨슨) warned that additional ecosystem failures could emerge later this year.

Governance conflicts are also continuing. Delegated Representatives (DReps) are opposing several proposals backed by IOG, and some of IOG’s 9 financial proposals failed to pass. Opposition to research proposals exceeded 80 percent. The community also cites as a factor in rising anxiety that Hoskinson said on X once again that he would temporarily step back.

Against this backdrop, ADA showed relatively weaker performance than other major altcoins. Sui, which Gambardello cited as an alternative, was also falling, but its losses were smaller than ADA’s. Over the same period, Sui was down 8.3 percent over 24 hours and 20.4 percent over a week.

Ultimately, the issue has gone beyond a simple personal portfolio change, leading to a scene in which internal trust in Cardano and market assessments are both being shaken. Although Gambardello said he still holds ADA, his public questioning of governance, leadership and branding laid bare the pressures facing the Cardano ecosystem.