ADA Slides 2.71% as Cardano 3.0 Upgrade News and Giveaway Spark Volatility Amid Market Uncertainty

Cardano (ADA) declined 2.71% over the past 24 hours, with the price falling from a 24h open of $0.5858 to $0.5699 on Binance. The price drop is attributed to renewed selling pressure after ADA failed to sustain a recovery above $0.59, alongside broader crypto market uncertainty and profit-taking. Increased market activity and volatility followed the announcement of a major Cardano event, including a large ADA giveaway and updates on the Cardano 3.0 upgrade, but this positive news was insufficient to offset bearish momentum. Technical indicators show ADA breaking below key support levels and trading under its 20- and 50-day moving averages, reinforcing a cautious short-term outlook. Trading volume has increased, reflecting active market participation amid heightened volatility.