ADA Token Drops 8.96% Amid High Trading Volume and Exchange Outflows Signal Volatility

Cardano (ADAUSDT) experienced a notable price decline of 8.96% over the past 24 hours, with the current price at 0.8531 USDT on Binance. The downturn is primarily attributed to increased selling pressure following a recent rally, as on-chain data indicates ADA holders are realizing losses and technical indicators such as RSI and MACD show fading bullish momentum. Additionally, significant exchange outflows and heightened futures market activity suggest supply tightening and active trading, contributing to the volatility. Cardano’s trading volume remains robust, ranging between $2.2 billion and $2.9 billion, with a 24-hour price range from $0.84 to $0.95 and a market capitalization estimated between $30 billion and $33 billion.