ADA Faces 2.23% Drop Amid SEC ETF Decision Uncertainty and Surging Trading Volumes

Cardano (ADA) is currently trading at $0.7407 on Binance, reflecting a 2.23% decrease over the past 24 hours with a 24h open of $0.7576 and elevated trading volumes as the asset remains among the top 10 cryptocurrencies by market capitalization. The recent price decline is primarily attributed to market volatility ahead of the anticipated U.S. SEC decision on the Grayscale Cardano ETF, which has heightened speculative trading and investor activity; despite positive ecosystem developments—such as growing DeFi participation, the Leios upgrade, and ongoing discussions around ETF approval—short-term sentiment has been impacted by uncertainty surrounding regulatory outcomes and profit-taking following a recent period of gains.