Article
ADA is about $0.2045, epoch 664 begins tonight, and TVL falls for a fourth straight day

Daily on Cardano
Monday left ADA just above $0.204. Around 14:19 Central European time, CoinMarketCap holds ADA at $0.204529, up 0.11 percent in 24 hours. CoinGecko gives $0.204601 and a gain of 0.19 percent. Cardanoscan holds $0.204764. The working price is $0.2045, up 0.22 percent from yesterday's $0.204049 on CoinMarketCap. The 24-hour range is $0.200505 to $0.206733. Volume on CoinGecko is $213.8 million.
Bitcoin in the same hour is near $80,051, down 0.36 percent. ADA stands at 255.5 satoshis against it. Yesterday the pair was at 254.0, and the day before at 258.4. The last four readings run 265.4, then 258.4, then 254.0, then 255.5. Today's step is the first rise in the pair after two down days. Fear & Greed on alternative.me is 50 and reads Neutral. Yesterday it was 54. CoinMarketCap's index in the same hour gives 44, against 43 yesterday. The two indexes still diverge.
Epoch and locked value
Koios at 14:19:50 puts the chain tip at height 14,118,664, up 4,364 from yesterday's reading. Epoch 663 is at 92.99 percent. Since the epoch began it has passed 116,681 transactions, up 21,136 in about 24 hours, in 19,952 blocks, and fees are 36,902.92 ADA. Epoch 662 had 156,063 transactions and 54,576.59 ADA in fees. Epoch 664 begins tonight at 22:44:51 Central European time. There are 852 DReps, with 16.04 billion ADA delegated. Parameters stay at protocol 11.0, k 500, and a minimum pool cost of 170 ADA. The treasury on Koios still reads 1,385,672,065 ADA, and reserves 6,048,923,066 ADA. That treasury total matches yesterday. The return of 115,172 ADA is already inside that balance and stays on the protocol desk.
DeFiLlama v2 gives $58,037,401, down 0.03 percent. The legacy figure is $58.43 million. The protocol sum is $71.95 million, on another methodology. The series from 19 October: 62.94, then 61.66, then 63.49, then 63.57, then 60.25, then 59.55, then 58.90, then 58.04 million dollars. The last four readings are lower. That is a fourth straight decline. The largest are Minswap at $14.53 million, Coinbase Bridge at $12.30 million, and Liqwid at $9.96 million. Stablecoins on SongMarketCap look 6 to 7 percent higher in the ADA pair this week because ADA fell over the week. INDY is the strongest day on that list, up 7.23 percent. NIGHT and $SONG have their own pieces.

Two outside theses
At 11:10 today The Crypto Basic carried four bearish signals from analyst Crypto Tice: a Wyckoff distribution in phase C, a price below the 200-day EMA at $0.2385, and 2.2 times the volume on down days. As a counterargument the same piece cites a trendline with four touches. The headline pulls toward $0.12. At 08:30 the same outlet carried Kevin Mercer and a zigzag toward $0.15, with a quote from operator Sssebi: a big dip followed by a huge pump. Both sentences are someone else's reading of a chart. At 11:43 @Jus7Degen sets out a bullish thesis that ADA is betting on secure infrastructure and institutional tokenization. The post breaks off there, so the rest of the thesis is not in this piece.
Sources: CoinMarketCap, CoinGecko, Cardanoscan, Koios, chain tip, Koios, treasury, DeFiLlama v2, Fear & Greed, The Crypto Basic, $0.12, The Crypto Basic, $0.15, @Jus7Degen.