ADA Drops 6.75% Amid High-Volume Sell-Offs; Accumulation and Mainnet Upgrade Fuel Investor Focus

Cardano (ADA) experienced a significant price decline of 6.75% over the past 24 hours, with the current price at $0.5460 on Binance, down from a 24h open of $0.5855. This drop is primarily attributed to broader macroeconomic pressures and high-volume sell-offs observed on June 21, 2025, as reported by multiple sources. Despite the price decline, market activity remains robust, with trading volume peaking at 175 million ADA before stabilizing, suggesting a potential accumulation phase as large holders recently added 310 million ADA since early June. Key technical levels were tested, with ADA rebounding from support around $0.562, and investors are closely watching for further developments such as the upcoming Leios mainnet upgrade and the potential for a spot Cardano ETF approval in 2025, both of which could influence future price action. The market capitalization has ranged between $12.7 billion and $13.5 billion, reflecting ongoing interest and stability amid recent volatility.