ADA Token Drops 6.32% Amid Market Consolidation Despite CME Futures Launch and Network Upgrades

Cardano (ADAUSDT) experienced a notable price decline in the past 24 hours, dropping 6.32% on Binance from a 24h open of 0.3938 to the current price of 0.3689. The price decrease is primarily attributed to mixed market sentiment, reduced trading volume, and ongoing consolidation around key support levels, despite positive developments such as the CME Group’s pending launch of Cardano futures and significant upgrades to the Cardano network including the Midnight mainnet and Ouroboros Leios consensus update. Institutional interest remains elevated, highlighted by a substantial spike in ADA futures volume and public announcements about a 2026 hard fork proposal, but these factors have not yet translated into upward price momentum. Cardano’s market capitalization is reported between $13.09 billion and $14.53 billion, with a circulating supply of approximately 35.96 billion ADA and 24-hour trading volumes ranging from $196 million to $622 million, reflecting continued active participation amid recent price volatility.