ADA Token Sees 4.74% Drop Amid Profit-Taking, Whale Accumulation, and $71M Ecosystem Boost

Cardano (ADAUSDT) experienced a 4.74% price decline over the past 24 hours, currently trading at $0.7858 on Binance. The recent price drop is attributed to profit-taking following last week's bullish momentum, resistance at the $0.82–$0.84 zone, and mixed technical signals, including a bearish reversal after failing to hold above key resistance levels. Despite the short-term pullback, positive developments such as the $71 million treasury allocation for ecosystem upgrades, significant whale accumulation, and anticipation around the upcoming Midnight Network airdrop have generated increased interest and trading activity. Cardano's 24-hour trading volume remains robust, exceeding $1.56 billion, with a market capitalization near $28.5 billion, reflecting ongoing volatility and active participation in the market.