ADA Token Slides 8% Amid Profit-Taking, But Large Holders Accumulate 310M as DeFi and ETF Hopes Rise

ADAUSDT is trading at $0.6317, down 8.28% over the past 24 hours from a 24h open of $0.6887, reflecting a sharp decline attributed to heavy profit-taking after a recent weekly price spike and ongoing market volatility. The price drop is further linked to fading trading volumes, increased selling pressure near the key $0.64 support level, and broader cautious sentiment in the crypto market. Despite the short-term bearish trend, notable developments include large holder accumulation of 310 million ADA, growing DeFi total value locked, and heightened institutional interest as evidenced by ADA’s addition to the Nasdaq Crypto Index and a 75% estimated approval chance for a Grayscale Cardano ETF. Current market activity remains elevated, with significant ADA movement and ongoing discussions about network upgrades and potential treasury diversification, but immediate sentiment is negative as ADA tests critical support zones.