ADA Token Drops 7.24% Despite Nasdaq Index Inclusion and DeFi Expansion With Cardinal Protocol

Cardano (ADAUSDT) is currently trading at $0.6327 on Binance, reflecting a 7.24% decline over the past 24 hours from a 24h open of $0.6821. The recent price drop follows a period of heightened volatility, despite positive developments such as ADA’s inclusion in the Nasdaq Crypto US Settlement Price Index and the launch of the Cardinal protocol, which expanded Cardano’s DeFi capabilities and drove increased demand for cloud mining contracts. While these advancements initially supported a short-term price rally and strong trading volume, broader market corrections and profit-taking have contributed to the recent downward movement. Trading volume has also decreased, aligning with a general cooling in altcoin momentum after earlier gains. Cardano maintains a circulating supply of approximately 35.27 billion ADA, with continued adoption in DeFi and enterprise applications supporting long-term interest despite current price fluctuations.