Overview
- ADA fell roughly 6% to near $0.60–$0.62, slicing through the ~$0.61 floor on trading volume that jumped well above recent averages.
- On-chain posts indicate wallets holding 100 million to 1 billion ADA unloaded about 100 million tokens over ~72 hours, coinciding with the drop.
- Technical signals flipped bearish with a death cross and a break from recent support structures, and analysts flag $0.55–$0.50 as next levels if $0.60 fails.
- Cardano’s on-chain activity has cooled, with total value locked near $280 million and monthly DEX volume around $85 million, reflecting weaker demand.
- Institutional sentiment has softened, with modest weekly outflows from ADA products and market-implied ETF approval odds sliding to about 68% from September’s highs.