$ADA Dips 2.53% Amid Major Sell-Offs, But Nasdaq Listing and New Products Signal Long-Term Growth

Cardano (ADA) is currently trading at $0.6253 on Binance, reflecting a 2.53% decline over the past 24 hours from a 24h open of $0.6415. The recent price drop is primarily attributed to continued large-scale sell-offs by major holders, with over 270 million ADA sold in late May, combined with broader market volatility driven by macroeconomic uncertainties and geopolitical risks. Technical indicators remain bearish, with the RSI below 30 and a downward-trending MACD, signaling persistent selling pressure. Despite the negative short-term sentiment, recent developments such as Cardano’s addition to the Nasdaq Crypto Index, the launch of the Originate enterprise product, and ongoing community discussions around a $100 million stablecoin liquidity proposal are supporting long-term ecosystem growth and institutional interest. Trading activity remains high, with the ADA market experiencing heightened volatility and significant derivative liquidations as bearish sentiment dominates.