ADA Drops 7% Amid Treasury Proposal Debate and 56-Day Low Despite Nasdaq Index Inclusion

Cardano (ADA) experienced a notable 7.01% decline in the past 24 hours, with the price dropping from a 24h open of $0.6521 to $0.6064 on Binance. This price decrease is primarily attributed to ongoing bearish sentiment following ADA’s recent 56-day low, continued volatility, and community discussions around Charles Hoskinson’s proposal to use 140 million ADA from the treasury to acquire Bitcoin and stablecoins, which has raised concerns about ADA liquidity and market stability. Despite ADA’s recent addition to the expanded Nasdaq Digital Assets Index and confirmation of its position within the top 10 cryptocurrencies by market capitalization, the market remains cautious as trading volumes hold steady and analysts monitor for potential support or further downside.