ADA Price Dips 2.97% as Institutional Funds Shift, Cardano Holds Top 10 Spot Amid Volatility

Cardano (ADA) is trading at $0.6264 on Binance, down 2.97% over the past 24 hours from a 24h open of $0.6456. The recent price decline is primarily attributed to a combination of weak buyer momentum, as reported in technical analyses, and a noted shift in institutional funds from altcoins like ADA to Bitcoin. Additionally, a decrease in 24-hour trading volume and broader market volatility have contributed to this short-term pullback. Despite the dip, ADA maintains its position among the top 10 cryptocurrencies by market capitalization, with ongoing network development and community engagement supporting its longer-term outlook. Over the past week, ADA showed an upward trend, but the current session reflects consolidation amid evolving market sentiment and recent governance developments within the Cardano ecosystem.