A Second Voice Moves Toward Sui
The drift toward Sui is the second time this year that a well-known Cardano ($ADA) voice has moved the same way, a story readers of Cardano news coverage have tracked since early summer. In June, analyst Dan Gambardello moved part of his holdings from Cardano into Sui. Around the same time, he warned of a deep lack of support for the Cardano community, a grievance O’s post repeats in different words. Neither announcement is a full exit: O still holds $ADA, though not as his largest position, and Gambardello moved only part of his portfolio, so the pattern so far is one of shrinking advocacy rather than selling. Both shifts landed during a difficult stretch for the chain. In June, $ADA fell below $0.20 for the first time since 2021, and ecosystem projects such as TapTools and Hosky wound down operations, removing visible activity from an ecosystem already under price pressure. The performance gap since then is visible in the market record: over the past six months SUI has edged higher while $ADA has lost ground, and across 12 months both tokens, measured by market cap, have fallen sharply. O’s Sui comparison leans on that six-month split, which he presents as evidence the competing chain has moved faster on technology and adoption. The Sui comparison also reaches the Cardano Foundation at a sensitive moment, because the body O named directly has absorbed two public setbacks this year. In June, the community voted down a 7.8 million $ADA treasury proposal, a rejection that cancelled the Cardano Summit in Singapore, and Foundation CTO Giorgio Zinetti left the organization at the end of August, about two months later. O’s post puts those pressures in one line: a fast-moving competitor, an ecosystem losing projects, and a Foundation he judges slow.
June’s 7.8 Million $ADA Rejection
The community O is leaving already showed in June, by voting down the 7.8 million $ADA treasury request and cancelling the Singapore summit, that its delegated layer will veto Foundation spending it does not back. Losing an active DRep thins exactly that layer: the votes he would have cast now wait on his former delegators, and their power sits idle until each of them acts. Downside calls add pressure in the background: our coverage has Cardano whales standing pat while a 24% drop mapped to $0.17 circulates, and Wednesday’s $0.23 rejection is feeding a $0.19 target. Protocol work continues on its own schedule, with Input Output’s staged Leios rollout targeting 3–5x capacity. Whichever way those forces resolve, the residue is the same: votes no one redelegates stop counting, on the record and in practice.
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