ADA Slides 3.29% as Trading Volume Soars 30%, Testing Key Support Amid Market Volatility

Cardano (ADA) experienced a 3.29% decline over the past 24 hours, with the price dropping from 0.6024 to 0.5826 USDT on Binance. The recent price decrease is primarily attributed to increased selling pressure and bearish sentiment, as highlighted by a 30% surge in trading volume and reports of rising liquidations in derivatives markets. This follows a period of heightened volatility driven by both positive developments, such as Cardano's inclusion in the Nasdaq crypto index and growth in staking addresses, and negative sentiment as ADA approached key support levels near $0.50. The market remains active, with a 24-hour trading volume around $652.9 million and ADA holding the #10 spot by market capitalization, despite being down over 79% from its all-time high.