ADA Price Dips 3% Despite Surging Volume After Binance’s Midnight Token Listing and Solana Interoperability

Cardano (ADAUSDT) experienced a 3.03% price decline over the last 24 hours, with its price dropping from 0.3662 to 0.3551 on Binance. The recent bearish pressure is primarily attributed to increased selling activity by large holders, subdued market momentum, and broader caution in the altcoin sector. Despite the price drop, Cardano saw heightened trading interest following Binance’s listing of Midnight, a privacy-focused partner chain token in the Cardano ecosystem, and ongoing announcements regarding cross-chain interoperability with Solana. Increased on-chain activity and continued development efforts, including partnerships for DeFi and privacy enhancements, have supported elevated trading volume, which ranged from $470 million to over $541 million in the past 24 hours. Cardano maintains a circulating supply of 35.93 billion ADA and a market capitalization near $13 billion, ranking as a top ten cryptocurrency by market cap.