ADA Slides 9.65% Despite $100M DeFi Proposal and Whale Accumulation Amid Market Uncertainty

Cardano (ADA) experienced a significant price decline over the past 24 hours, dropping 9.65% to $0.6273 (Binance data), with the decrease attributed to broader market uncertainty, reduced trading volume, and capital rotation toward larger cryptocurrencies such as Bitcoin. Despite recent positive developments—including the launch of the Cardinal DeFi protocol, strong whale accumulation (over 120 million ADA in 48 hours), and a proposal to deploy $100 million from the ADA treasury to boost DeFi activity—these factors were insufficient to offset prevailing bearish sentiment and profit-taking. ADA’s 24-hour trading volume stands at approximately $640 million, down 19%, with the market capitalization at around $17.44 billion and circulating supply near 35.68 billion ADA. Current technical and sentiment indicators suggest continued downside pressure, with price action closely tied to overall crypto market trends and the potential for a broader altcoin rally.