ADA Slides 2.83% to $0.6308 Amid $100M Treasury Proposal and Robust Network Activity

Cardano (ADA) is currently trading at $0.6308 on Binance, reflecting a 2.83% decline over the past 24 hours from a 24h open of $0.6492, with a trading volume of approximately $676 million and a market capitalization near $22.9 billion. The recent price decrease follows a brief period of positive momentum attributed to increased project development on the Cardano network, ongoing governance discussions around a proposal to convert $100 million in ADA treasury funds to Bitcoin and stablecoins for DeFi expansion, and announcements regarding upcoming integrations such as Ripple-related assets and the Midnight sidechain launch. Despite these developments, short-term selling pressure and profit-taking after ADA broke resistance at $0.635 appear to have contributed to the latest pullback, while network activity remains robust with over 1.3 million staking addresses. Overall, ADA maintains its position among the top 10 cryptocurrencies, supported by active development and community engagement.