ADA Token Dips 2.82% Amid Market Sell-Off, But $71M Upgrade and Midnight Airdrop Boost Activity

Cardano (ADAUSDT) has declined by 2.82% over the last 24 hours, with the current price at $0.7239 according to Binance data. The recent price drop is primarily attributed to broader market volatility and a deepening crypto sell-off, as well as bearish technical indicators with ADA trading below key moving averages. Despite the price dip, Cardano achieved a significant governance milestone with the community approving a $71 million treasury allocation for protocol upgrades and the launch of the Midnight (NIGHT) token airdrop claim portal, which have contributed to increased on-chain activity such as whale accumulation and staking. Cardano's 24-hour trading volume is approximately $954.90 million to $1.18 billion, with a market capitalization near $25.7 billion and a circulating supply of about 35.42 billion ADA.