ADA Faces $200M Long Liquidations Amid Volatility, BitVM Bridge Launch, and On-Chain Activity Surge

Cardano (ADA) is currently trading at $0.6823 with a 24-hour price change of -2.79%, reflecting ongoing downward pressure and notable volatility; the circulating supply is 35.68 billion ADA and market capitalization stands near $17.44 billion. The recent price decline and increased liquidations, including $200 million in long positions, are primarily attributed to heightened market volatility linked to renewed U.S. trade tariff concerns impacting major altcoins, as well as mixed analyst predictions and technical developments such as the introduction of a BitVM-based bridge and increased on-chain activity.