ADA Sees $1B Exchange Outflow and Plomin Upgrade as Ecosystem Growth Outpaces Short-Term Dip

Cardano (ADA) is currently trading at $0.7432 with a 24-hour volume of 105.38 million ADA and a market capitalization of approximately $26.5 billion, reflecting a 2.12% decline from the previous day’s open of $0.7593. The recent price pullback coincides with a period of stable but slightly downward movement in the broader crypto market, despite significant developments such as nearly $1 billion in ADA withdrawn from exchanges, the implementation of on-chain governance via the Plomin Upgrade (CIP-1694), and increased activity in the Cardano ecosystem including a 30% rise in stablecoin market cap and new cross-chain features in the Lace wallet. While these positive ecosystem updates suggest growing long-term holder confidence and ongoing innovation, short-term price pressure may be attributed to broader market volatility and recent discussions around Cardano’s treasury audit, which has drawn attention to governance transparency.