ADA Token Dips 2% Amid Profit-Taking, Holds Strong as Cardano Eyes Treasury Diversification

Cardano (ADA) is trading at $0.5863 on Binance, reflecting a 2.09% decline over the past 24 hours from an open of $0.5988. The recent price drop is primarily attributed to increased selling activity by long-term holders and profit-taking by large investors, as indicated by on-chain data, despite positive developments such as ADA’s integration into Brave Wallet and ongoing ecosystem growth. The market remains active with high trading volume and notable volatility, as bulls attempt to defend the $0.60 level amid discussions around Cardano’s proposed treasury diversification into Bitcoin and stablecoins. ADA maintains a market capitalization of approximately $17.44 billion, with a circulating supply near 35.68 billion tokens, and continues to show resilience supported by a 14.2% gain over the past week and strong technical support levels.