ADA Slides 3.67% Amid Market Volatility Despite Cardano’s Reeve Launch and Golden Cross Signal

Cardano (ADA) experienced a 3.67% price decrease over the past 24 hours, with the ADAUSDT pair on Binance currently trading at 0.7016, down from a 24-hour open of 0.7283. The recent price movement can be attributed to broader market volatility following Bitcoin’s rally to a new all-time high, which initially drove bullish sentiment and increased ADA accumulation by large holders. However, despite positive developments such as the Cardano Foundation’s launch of the Reeve financial reporting platform and a technical “golden cross” signaling potential long-term strength, short-term profit-taking and fluctuating trading volumes contributed to the pullback. ADA saw substantial trading activity, with 24-hour volumes reported between $1.81 billion and $2.94 billion, and its market capitalization remains strong at approximately $24.83 billion to $25.97 billion, with a circulating supply of 35.39 billion ADA out of a 45 billion maximum.