ADA Token Drops 7% Amid Cardano ETF Speculation, High Volatility, and $1.9B Trading Surge

Cardano (ADAUSDT) experienced a 7.03% price decline over the past 24 hours, with the current price at $0.8211 on Binance. The price drop is primarily attributed to heightened market volatility following speculation around a potential Cardano ETF, mixed technical analyses indicating both bullish and bearish sentiment, and recent U.S. legislative developments including a procedural vote on a cryptocurrency bill. Additional factors include profit-taking by traders after recent gains of up to 30% and ongoing discussions about Cardano’s institutional upgrades and transparency initiatives. Trading volume remains elevated, with approximately $1.92 billion to $1.97 billion in 24-hour volume, and the asset’s market capitalization is around $29 billion. Cardano’s price fluctuated between a 24-hour high of $0.9041 and a low of $0.7857, reflecting significant intraday volatility amid ongoing regulatory and market developments.