ADA Token Faces 3.43% Drop Amid Bitcoin DeFi Integration and SEC ETF Review Developments

In the past 24 hours, ADAUSDT has declined by 3.43%, with the current price at 0.5510 (opening at 0.5706), reflecting increased selling pressure and volatility. The price drop is attributed to technical signals such as the emergence of an hourly death cross and a potential Bollinger Bands crash, as well as a general market sell-off. Additional factors include heightened trading activity following recent developments: Cardano's integration of Bitcoin DeFi, the addition of Bitcoin support in Cardano wallets, and anticipation surrounding the U.S. SEC's review of Grayscale’s ETF application, which includes ADA. Despite a recent 10% price surge earlier in the week and increased open interest, the market has entered a consolidation phase with substantial 24-hour trading volume (approximately $674 million to $758 million) and a market capitalization near $19.56 billion to $20.11 billion. ADA remains the 10th largest cryptocurrency by market cap, with a circulating supply of about 35.38 billion tokens.