ADA Slides 2.22% Despite $71M Upgrade Approval and Surging Ecosystem Activity—What’s Next for Cardano?

Cardano (ADAUSDT) experienced a 2.22% price decline over the past 24 hours, with the current price at 0.7265 USDT on Binance. The price decrease is attributed to mixed technical signals and recent profit-taking by large holders, despite positive developments such as the Cardano community's approval of a $71 million treasury allocation for protocol upgrades and increased ecosystem activity from initiatives like the Midnight (NIGHT) token airdrop. While these upgrades have generated optimism and renewed retail interest, technical analysts note both bullish recovery patterns and bearish channel movements, contributing to market uncertainty and consolidation.

ADA's 24-hour trading volume on Binance exceeded $71 million, with the broader market volume ranging from $841 million to over $1 billion. The circulating supply is approximately 35 to 36 billion ADA, and the market capitalization is estimated between $25.72 billion and $27.21 billion. The asset is currently consolidating near the $0.72 level, with resistance at $0.75 and mixed sentiment among traders regarding the next directional move.