ADA Token Drops 4% After US Inflation Data, Trading Volume Surges Amid Market Volatility

Cardano (ADAUSDT) experienced a 4.03% price decrease in the last 24 hours, with the current price at 0.9071 on Binance, despite recent bullish sentiment and increased trading activity. The price decline follows a broader market correction triggered by higher-than-expected US July PPI data, which led to increased inflation concerns and significant liquidations across the crypto market. While ADA recently reached a five-month high of $1.02 and saw strong whale accumulation and record open interest, the asset retraced as market volatility increased. Trading volume remains substantial, indicating continued interest, and ADA’s market capitalization is estimated between $33.17 billion and $35.04 billion, with a circulating supply of approximately 36 billion tokens.