ADA Drops 6.6% Despite $70M Institutional Inflows and Whale Accumulation Amid Market Volatility

Cardano (ADA) experienced a 6.60% price decline over the past 24 hours, dropping from a 24h open of $0.6717 to a current price of $0.6274 on Binance. This pullback is attributed to recent market volatility, despite positive developments such as the integration of the USDM stablecoin with the Lace Wallet, increased institutional inflows exceeding $70 million, and notable whale accumulation of approximately 170 million ADA. Technical resistance at key moving averages and broader market sentiment have also contributed to short-term selling pressure, even as on-chain and social sentiment indicators remain cautiously optimistic. ADA currently ranks #10 by market capitalization, with a 24-hour trading volume of $892.54 million and a market cap of $22.22 billion, reflecting ongoing strong trading activity and sustained interest in the asset.