Cardano Price Rebounds as Leios Testnet Launch Approaches

Cardano's ADA token has experienced a significant price fluctuation over the past few weeks. After reaching a six-year low of $0.148, the price bounced back to around $0.167 as of June 9.

The Leios testnet is set to launch on June 23, which promises a substantial improvement in network capacity, increasing it from approximately 800,000 transactions per month to 27 million, representing a 33x increase.

Despite the upcoming upgrade, Cardano's ecosystem health remains a concern. The DeFi TVL dropped by nearly 42 million ADA in five days, and DEX volume decreased significantly.