ADA Slides 7% Amid Whale Moves and DeFi Expansion Plans Following Nasdaq Crypto Index Inclusion

Cardano (ADA) experienced a 7.01% decline over the past 24 hours, with the price dropping from a 24h open of $0.6802 to $0.6325 on Binance. This price decrease is primarily attributed to recent profit-taking following last week’s double-digit gains, increased whale activity, and heightened market volatility as ADA tested the $0.64 support level. Additional factors include significant ADA movements (270 million tokens transferred), ongoing speculation around potential ETF approval, and founder Charles Hoskinson’s proposal to convert $100 million in ADA to bitcoin and stablecoins to boost Cardano’s DeFi ecosystem. Despite the recent sell-off, ADA remains among the top 10 cryptocurrencies by market cap, with a circulating supply of approximately 35.68 billion ADA, a market capitalization between $22.8 and $24.9 billion, and a 24-hour trading volume near $525 million. The asset continues to attract institutional attention, highlighted by its recent inclusion in the Nasdaq Crypto Index and ongoing ecosystem developments.