ADA Token Slides 6% Amid $684M Liquidations, Institutional Surge, and Futures Trading Spike

Cardano (ADAUSDT) experienced a notable price decline of 6.04% in the last 24 hours, with the current price at 0.3965 (Binance data). The drop can be attributed to heightened market volatility following a 750% spike in futures flow, increased open interest, and substantial liquidations totaling $684 million. Institutional activity rose as DZ Bank received MiCAR approval and introduced ADA trading, while anticipation of CME Group’s upcoming Cardano futures launch contributed to elevated derivatives trading and leverage. Despite strong trading volume between $551.7 million and $777 million and a circulating supply of 35.96 billion ADA, ADA remains below key moving averages, reflecting short-term bearish sentiment, though analysts are monitoring resistance levels for a potential reversal.