ADA Drops 9.15% Amid Geopolitical Tensions Despite Strong Staking and Upcoming Scalability Upgrade

Cardano (ADA) experienced a sharp decline in the last 24 hours, with the price dropping 9.15% from a 24h open of $0.5770 to $0.5242 on Binance. This price movement is primarily attributed to broader market uncertainty and risk-off sentiment driven by escalating geopolitical tensions in the Middle East, which triggered increased volatility and heavy trading activity. Despite recent bullish technical signals and ongoing network developments such as the upcoming Leios scalability upgrade and strong staking participation (over 71% of supply staked), the negative market environment led to heightened selling pressure. ADA’s trading volume spiked significantly above its 30-day average during the selloff, and the asset’s market capitalization stands at approximately $12.7 billion. ADA remains volatile, with traders monitoring for further downside or potential stabilization as market conditions evolve.