ADA Faces 21% Market Cap Drop Amid Selloff, Treasury Audit Concerns, and Surging Futures Interest

Cardano (ADA) is currently trading at $0.7539 on Binance, down 2.43% over the past 24 hours, with recent data showing a decline in market capitalization, trading activity, and network fees, while open interest in ADA futures has exceeded $920 million across major exchanges. The recent price drop follows a broader market selloff affecting most cryptocurrencies, alongside a 6.26% decline in ADA’s price and a 21% decrease in market cap quarter-over-quarter; contributing factors include heightened volatility, profit-taking after strong gains earlier in May, and concerns raised by a recent treasury audit discrepancy, despite positive developments such as increased whale accumulation, significant exchange withdrawals, and Cardano’s ongoing transition toward decentralized governance.