ADA Drops 5.25% Amid ETF Speculation, $48M Inflows, and Surging DeFi Activity on Cardano

Cardano (ADAUSDT) experienced a 5.25% price decline over the past 24 hours, opening at 0.8681 and currently trading at 0.8225 on Binance. The price movement is attributed to a combination of increased speculation around a potential Cardano ETF, recent inflows of $48 million, and heightened activity on ADA-based DeFi platforms, as reflected by a $100 million rise in Cardano’s Total Value Locked since late June. Despite bullish sentiment driven by ETF rumors and positive legislative developments in the US House of Representatives regarding crypto bills, ADA faced resistance after a recent rally, with some analysts noting a weak retest of previous support levels. Trading volume remains robust, ranging from $1.9 billion to $3.35 billion in the last 24 hours, and Cardano’s market capitalization is approximately $28 billion, with a circulating supply of 35.40 billion ADA.