ADA Token Sees 3.9% Price Drop Amid ETF Speculation and Strong Holder Accumulation

Cardano (ADAUSDT) experienced a 3.90% price decline over the past 24 hours, with the current price at 0.9162 USDT according to Binance data. The recent price drop is primarily attributed to fading momentum following earlier excitement around a potential spot Cardano ETF, as well as mixed technical signals and reduced buying pressure after ADA failed to sustain levels above key resistance zones. Despite large holders accumulating over 120 million ADA and increased open interest in ADA futures, the market has seen consolidation and volatility, with ADA trading between 0.8781 and 0.9752 USDT and a robust 24-hour volume of approximately 279.19 million ADA on Binance. Cardano remains among the top 10 cryptocurrencies by market capitalization, supported by ongoing network upgrades such as Hydra and Acropolis.