ADA Drops 6.13% Amid Major Holder Sell-Offs and Anticipation of Leios Mainnet Upgrade

Cardano (ADA) experienced a 6.13% price decline over the past 24 hours, currently trading at $0.5493 on Binance after opening at $0.5852. The price drop is primarily attributed to recent large-scale ADA holder sell-offs and broader bearish momentum across the cryptocurrency market, as well as ongoing volatility following founder Charles Hoskinson's $100 million treasury proposal and anticipation of the upcoming Leios mainnet upgrade. Despite the downturn, ADA maintains a market capitalization of approximately $24 billion and continues to see high trading activity, with key support levels and network developments closely monitored by investors.