ADA Drops 6.4% Amid SEC ETF Delay, But Whales Accumulate 180 Million Tokens

Cardano (ADA) is currently trading at $0.7033 with a 24-hour price decline of 6.41% and a significant increase in trading volume, reflecting heightened market activity. The recent price drop is primarily attributed to regulatory uncertainty following the U.S. SEC's delay of a decision on Grayscale’s proposed spot Cardano ETF and a broader decline in the cryptocurrency market, which has led to increased volatility and short-term bearish sentiment. Despite these pressures, large holders have accumulated over 180 million ADA in the past week, indicating continued strategic interest from major investors.