ADA Token Faces 2.15% Drop but Renewed Whale Accumulation and Ecosystem Growth Signal Resilience

Cardano (ADAUSDT) has declined by 2.15% over the past 24 hours, with the price falling from 0.3636 to 0.3558. This bearish movement is primarily attributed to persistent selling pressure noted in recent technical analyses, as ADA trades below key Exponential Moving Averages and approaches its yearly low. Significant losses realized by investors in December, along with large holders reducing their positions earlier in the month, have further weighed on sentiment. However, blockchain data shows renewed accumulation by large holders and increased activity in the Cardano ecosystem, highlighted by the Midnight token reaching a $1.25 billion valuation, which may provide future support.

ADAUSDT currently trades at 0.3558 on Binance with 24-hour volume ranging from $464.48 million to $531.00 million and a circulating supply of 35.93 billion ADA. The asset remains volatile and is ranked among the top 12 cryptocurrencies by market capitalization.