Cardano’s ADA token fell 3% over the past 24 hours, currently trading at $0.87 after a volatile session that saw the token swing over 10% in value 0 price action followed a Friday night AMA (Ask Me Anything) with Cardano co-founder Charles Hoskinson, who expressed long-term optimism for Cardano’s prospects, pointing to the upcoming Midnight Network — an initiative aimed at improving data privacy on the blockchain—as a major unlock for 1 noted that incorporating bitcoin (BTC) into the Cardano ecosystem could expand its use cases and investor 2 also discussed the market's macro events and catalysts during his 3 said he expects two potential catalysts to shape crypto markets in the coming months: a likely interest rate cut by the Federal Reserve in September and the possible passage of the Digital Asset Market Clarity Act (CLARITY).
ADA's price action Overnight from Sunday to Monday, ADA began trading near $0.901 before surging to an intraday high of $0.963 on a spike in volume, with 333.34 million tokens exchanged during the rally, according to CoinDesk Research's 4 that momentum 5 dropped nearly 10% to a session low of $0.862 before stabilizing around current 6 emerged around $0.856, a level where buyers stepped in at above-average volumes, the data showed. ADA's Volatility spiked to 10.48% over the session, reflecting shifting market sentiment and heightened sensitivity to macroeconomic 7 move coincided with the broader market as bitcoin price fell sharply on Sunday after a large whale dumped the digital 8 broader market gauge, CoinDesk 20 Index, also fell more than 3%.
While ADA is still up 125% from a year ago, the token is down more than 70% from its all-time high of $2.90, reached in August 9 now, though, ADA and the broader crypto market may remain range-bound as institutional investors and retail traders alike watch how regulators and central banks shape the next phase of the crypto 10 more: Here Is Why Bitcoin's Flash Crash May Signal Altcoin Season
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