ADA Token Sees 5.81% Price Drop Amid $170M Exchange Withdrawals and Surging Trading Volume

Cardano (ADAUSDT) experienced a notable price decline of 5.81% over the past 24 hours, with the current price at 0.8261 USDT on Binance. This drop follows recent volatility around key resistance levels, increased accumulation by large holders as evidenced by $170 million in ADA withdrawals from major exchanges, and heightened risk of short position liquidations near resistance. The market saw a surge in trading volume, likely driven by a combination of bullish buying activity and subsequent profit-taking after ADA failed to hold above $0.96. Cardano maintains a market capitalization of approximately $30.60 billion, with a circulating supply of 36 billion ADA and robust 24-hour trading volume between $1.20 billion and $1.59 billion, reflecting sustained investor interest despite short-term price fluctuations.