ADA Token Slides 3% Amid Whale Selloff Despite Nasdaq Index Debut and $918M Trading Surge

Cardano (ADAUSDT) is currently trading at $0.6185 on Binance, reflecting a 3.12% decline over the past 24 hours from a 24h open of $0.6384. The recent price drop is primarily attributed to heightened volatility and a significant whale selloff of 270 million ADA, which has contributed to increased selling pressure and bearish sentiment. Despite positive developments such as ADA's inclusion in the Nasdaq Crypto Index, a surge in trading volume, and the launch of the Cardinal Protocol bridging Bitcoin to Cardano DeFi, these events have not offset the impact of large-scale liquidations and technical breakdowns below key support levels. Trading volume remains robust, with over $918 million exchanged in the last 24 hours, and ADA’s market capitalization stands at approximately $21.91 billion. While ADA has experienced a notable year-over-year gain, current market conditions are characterized by high volatility, strong liquidity, and a risk-off environment as the asset consolidates near a key support zone.