ADA Token Dips 2.84% Despite Surpassing 1.3 Million Staking Addresses and Network Growth Milestone

Cardano (ADAUSDT) is currently trading at $0.6066 on Binance, reflecting a 2.84% decrease over the past 24 hours from an open of $0.6243. The price decline is primarily attributed to ongoing bearish sentiment in the broader crypto market, despite Cardano achieving a significant milestone of surpassing 1.3 million staking addresses this week. While this network growth signals increased participation and positive fundamentals, it has not offset short-term selling pressure, with technical indicators showing a strong negative trend and analysts warning of further downside risk if ADA fails to hold above key support levels. Market capitalization stands at approximately $17.44 billion with a circulating supply of 35.68 billion ADA, and trading volumes remain moderate amid persistent volatility.