ADA Slides 2.5% Amid Market Sell-Off, Surging Volumes, and Key Lace Wallet Upgrade

Cardano (ADA) declined by 2.51% over the last 24 hours, with the price currently at $0.5549 (Binance data), down from a 24h open of $0.5692. This price drop is primarily attributed to persistent bearish sentiment, technical signals such as the approaching hourly "death cross," and a broader market sell-off that intensified selling pressure. Additionally, ADA’s failure to sustain a brief recovery above $0.59 and high trading volumes—up 128% to over $1 billion—reflect increased volatility and shifting trader sentiment. Despite these pressures, Cardano remains the 10th largest cryptocurrency by market cap, with ongoing developments such as Lace Wallet’s new Bitcoin support and recent network upgrades contributing to long-term interest.