ADA Token Slides 6.62% Amid Profit-Taking, Whale Accumulation and Cardano’s Strategic Advancements

Cardano (ADAUSDT) is currently trading at $0.6220 on Binance, reflecting a 6.62% decline over the past 24 hours from an opening price of $0.6661. The recent price drop is primarily attributed to ongoing profit-taking across the broader cryptocurrency market, despite positive developments such as the Cardano Foundation’s approval of the Amaru Node Development Budget for 2025 and Cardano’s active participation as a Platinum Sponsor at the Crypto Valley Conference. On-chain data indicates continued accumulation by large investors (“whales”) and rising trading activity in markets such as Japan, but these factors have not offset the prevailing cautious sentiment and increased volatility. ADA remains among the top 10 cryptocurrencies by market capitalization, with a circulating supply of approximately 17.44 billion ADA and a market cap near 35.68 billion ADA. Technical indicators show ADA facing resistance at multiple moving averages, while the Relative Strength Index (RSI) remains neutral, suggesting the potential for further volatility if trading volumes shift. Despite the recent price weakness, community sentiment is largely optimistic, supported by ongoing whale accumulation and increased on-chain activity.