ADA Token Drops 4.26% After Whale Accumulation and Five-Month High Amid Market Volatility

Cardano (ADAUSDT) experienced a 4.26% price decline over the past 24 hours, currently trading at $0.9206 on Binance. The drop follows a period of elevated volatility, driven by large holders acquiring over 200 million ADA and increased whale activity, which contributed to recent price surges and heightened trading volume. The retracement is attributed to a broader market downturn and profit-taking after ADA reached a five-month high, with technical factors such as consolidation near support levels and weak buying momentum also influencing the move. ADAUSDT saw a 24-hour trading volume between $2.34 billion and $4.21 billion, with market capitalization reported around $32.48 billion to $34.04 billion, reflecting ongoing volatility and active monitoring of key support and resistance levels.