Cardano (ADA) price is down by 3.74% today, July 24, to trade at $0.167 at the time of writing. This drop comes as Cardano founder Charles Hoskinson warns that President Trump’s ties to the crypto sector are delaying the passage of the CLARITY Act bill.
Besides Cardano, the rest of the crypto market remains down today, July 24, after the Senate Majority Leader John Thune said that the CLARITY bill might not pass before August.
Charles Hoskinson Sounds CLARITY Act Warning
In a recent post on X, Hoskinson revealed that the debate around the CLARITY Act has been reduced to three talking points: crypto, Trump, and corruption.
He says that Trump’s ties to the crypto sector, including the recent disclosure that he made $1.4 billion in profit from crypto activities in 2025, will continue to push Democratic senators away from voting for the CLARITY Act and all other crypto bills.
“The process was mismanaged, and it led to this talking point. No progress can be made if crypto is partisan,” the Cardano founder said.
Hoskinson’s remarks come as Senator Elizabeth Warren asks Trump to disclose any profits that he has made from crypto since July 15. Warren says that the disclosure should come before Senate can vote on CLARITY Act.
Democratic Senators also argue that the White House concessions on ethics rules are not enough, saying that state Attorneys General, and not the DoJ, should ensure that the President does not issue digital assets.
Cardano Price Tests Ascending Channel Support Amid Selling Pressure
The price of Cardano has been moving within a rising channel since July 14. This channel suggests that ADA has been on an uptrend for ten days.
But ADA is now testing the support at the lower boundary of the rising channel. If it closes below this support, it will suggest that ADA price is about to start a downtrend, and the price could drop to the psychological support of $0.15.
The RSI reading of 42 supports a bearish long-term Cardano price prediction. The RSI line is also creating a lower low on the four-hour chart, suggesting that the selling pressure is rising.
The AO bars that are red and negative also suggest that bears are tightening their grip, and this further strengthens a bearish case of a move to $0.15.
Whales Scoop 30M ADA After Van Rossem Upgrade
Whales have scooped 30 million Cardano tokens despite the recent decline in price, per analyst Ali Charts.
The purchases come after the Van Rossem hard fork went live on Cardano to pave the way for the Leios upgrade that will make the network 60 times faster.
Still, Hoskinson notes that Cardano and other blockchain networks need to improve their security and prevent hacks, failure to which the crypto industry could die within 15 years.
His remarks come after a recent hack on the Wanchain bridge that links Cardano to BNB Chain.
The SecondFi protocol is also shutting down after being hacked in June with this marking the third project on Cardano to shut down after TapTools and JPG Store.
