ADA Slides 4.29% Amid Treasury Debate and Low Volume, Holds Top 10 Spot Despite Market Pressure

Cardano (ADA) is trading at $0.6244 on Binance, reflecting a 4.29% decline over the past 24 hours from an open of $0.6524. The recent price drop is primarily attributed to overall bearish sentiment in the broader cryptocurrency market, reduced trading volume (down 40.8% to $371.18 million), and technical pressure as ADA struggles to hold above key support at $0.64. Additional factors include ongoing community discussions following Cardano founder Charles Hoskinson’s proposal to convert a portion of ADA treasury funds into Bitcoin and stablecoins to support DeFi, which has introduced uncertainty regarding future treasury management. Despite these pressures, ADA maintains a strong position in the top 10 by market capitalization and continues to see development activity, including plans for XRP Ledger integration and growth in staking participation. Market sentiment remains cautious, with ADA consolidating near recent lows and awaiting a potential catalyst for a directional move.