ADA Slides 2.3% as Technical Weakness and User Activity Dip, Yet Ecosystem Upgrades Sustain Momentum

Cardano (ADAUSDT) declined 2.30% over the past 24 hours, with the price falling from 0.5728 to 0.5596. This price decrease is primarily attributed to recent technical weakness, including ADA approaching an hourly "death cross" and failing to break above key resistance at $0.59, which has reinforced bearish sentiment amid a broader market sell-off. Additional factors influencing the decline include a significant drop in daily active users and open interest in ADA futures, as well as subdued transaction and fee activity on the Cardano network. Despite these pressures, ongoing ecosystem developments—such as the launch of wrapped ADA (cbADA) on Coinbase’s Base Layer 2 and anticipation for major upgrades like "Leios"—have helped maintain Cardano’s position as a top 10 cryptocurrency by market capitalization, with a circulating supply exceeding 35 billion ADA and continued high community engagement.