ADA Token Slides 4.36% as Bearish Pressure Surges Despite $170M Withdrawals and Ecosystem Growth

Cardano (ADAUSDT) experienced a 4.36% price decline over the last 24 hours, with the current price at $0.8329 on Binance, opening at $0.8709. The recent price drop is attributed to increased bearish pressure following a breakdown below the key $0.907 support level, confirmed by a spike in trading volume and short-term technical indicators signaling continued consolidation. Despite positive developments such as the withdrawal of $170 million ADA from exchanges, ongoing testing of the Ouroboros Leios upgrade, and a $23 million investment in Cardano ecosystem projects, these factors have not offset the prevailing market sentiment. Cardano’s 24-hour trading volume remains robust, ranging from $1.26 billion to $1.39 billion, with a circulating supply of approximately 35.73 billion ADA and a market capitalization near $30 billion.