ADA Slides 3.7% After Nasdaq Crypto Index Surge Despite ETF Optimism and Record Staking Activity

Cardano (ADA) is currently trading at $0.6385 on Binance, reflecting a 3.70% decline over the past 24 hours from an open of $0.6630. The recent price drop is primarily attributed to a wave of profit-taking following ADA’s inclusion in the Nasdaq Crypto Index and heightened institutional attention, which had driven a 17% gain in the prior week. Despite positive developments such as Bloomberg reporting a 75% probability of Cardano ETF approval, ongoing SEC review of a Grayscale ADA ETF filing, and strong ecosystem activity—including over 110 million total transactions and 22 billion ADA staked—market sentiment has been tempered by short-term volatility and broader market pressures. ADA’s 24-hour trading volume stands at approximately $1.15 billion, with a market capitalization of $22.53 billion, and the asset remains among the top-10 cryptocurrencies by market cap, showing a 0.93% weekly gain but a 23.87% decline over the past month.