ADA Slides 2.37% as Whales Accumulate 410M Tokens Amid $932M Outflows and Midnight Airdrop Buzz

Cardano (ADA) has declined by 2.37% over the past 24 hours, with the price dropping from a 24h open of $0.6165 to $0.6019 on Binance. This price decrease is primarily attributed to ongoing bearish sentiment, as reflected in recent news of increased selling activity by long-term holders, persistent technical weakness such as the 25-day "death cross" pattern, and significant capital outflows totaling $932 million. Despite these pressures, there has been notable accumulation by whale investors, who acquired 410 million ADA during the decline, indicating some strategic positioning. The market remains cautious with low volatility and ADA trading near its recent lows, while network fundamentals show continued growth in staking addresses and anticipation for the upcoming 'Midnight' coin airdrop for ADA holders.