ADA Token Drops 5.66% as Key Support Fails, Major Holders Acquire 210 Million ADA

Cardano (ADAUSDT) experienced a price decline of 5.66% over the last 24 hours, with its current price at 0.3698 USDT on Binance. The recent drop is primarily attributed to Cardano’s failure to hold a key support level, escalating trade tensions between the European Union and United States, and a prevailing bearish sentiment in the derivatives market. Increased market activity is evident, with 24-hour trading volumes ranging from $336.29 million to $1.25 billion in futures, reflecting heightened volatility. Despite the short-term downward movement, large holders have accumulated 210 million ADA in the past three weeks, indicating ongoing interest among major investors. Cardano’s market capitalization is estimated at $13.09–$14.11 billion, with a circulating supply of approximately 35.96 billion ADA.