ADA Slides 7.62% as Trading Volume Surges, Protocol Upgrades and CME Futures Shape Market Sentiment

Cardano (ADA) experienced a 7.62% price decline over the past 24 hours, currently trading at $0.2959 on Binance. This downward movement follows broader market volatility and profit-taking after recent protocol upgrades, including the Protocol 11 Hard Fork and integration of the USDCx stablecoin to enhance DeFi liquidity. While institutional interest has increased—evidenced by smart money accumulation and the upcoming launch of CME Group Cardano futures—futures open interest declined by 8%, indicating reduced speculative activity. Despite the price drop, 24-hour trading volume surged to over $1.36 billion, reflecting heightened market participation amid shifting sentiment and technical developments.