ADA Dips 2% Amid $550M Crypto Liquidations, Yet Cardano Surges 20% Weekly on Network Upgrades

Cardano (ADAUSDT) experienced a 2.05% price decline over the past 24 hours, trading at 0.8830 USDT on Binance. This short-term drop is primarily attributed to broader cryptocurrency market volatility, which saw significant liquidations exceeding $550 million, as well as profit-taking following ADA’s strong 37% rally earlier in July. Despite the recent pullback, Cardano’s ecosystem continues to show robust development activity, highlighted by recent network upgrades such as the Chang hard fork and Plomin update, and growing institutional interest.

Currently, ADA maintains a market capitalization of approximately $31.90 billion with a 24-hour trading volume of around $2.02 billion. The asset remains among the top 10 cryptocurrencies, with a circulating supply of 36 billion ADA out of a maximum 45 billion, and has shown a 19.88% increase over the past week despite recent volatility.