ADA Sees 2.67% Drop Amid Whale Accumulation, Surging Volume, and Cardinal Protocol Launch

Cardano (ADA) is currently trading at $0.6892 on Binance, reflecting a 2.67% decline over the past 24 hours, with significant derivatives activity as trading volume rose nearly 40% while open interest in ADA futures dropped by 10%. The recent price decrease follows a period of volatility and mixed sentiment, despite notable whale accumulation of over 180 million ADA and increased on-chain activity. The price movement appears influenced by profit-taking after earlier gains, fluctuating analyst outlooks, and recent technological developments such as the demonstration of the "Cardinal" protocol bridging Bitcoin Ordinals to Cardano, which has drawn attention but has not offset short-term selling pressure.