ADA Drops 5.57% After Nasdaq Index Surge, But Whales Accumulate 310M Tokens in June

Cardano (ADA) experienced a 5.57% decline over the past 24 hours, with the price falling from a 24h open of $0.7254 to $0.6850 on Binance. This drop follows recent volatility after ADA’s inclusion in the Nasdaq Crypto US Settlement Price Index, which initially drove a 3% price increase and a surge in trading volume. The subsequent pullback is attributed to profit-taking after the rally, technical resistance near $0.72, and a reduction in derivatives open interest. Despite the short-term decline, whale accumulation remains strong, with over 310 million ADA acquired by large holders in June, reflecting continued long-term confidence. ADA’s market cap stands at $24.2 billion, with a 24-hour trading volume of approximately $699–707 million, and the asset has shown a 14.22% gain over the past week.