The Cardano Ada token fell 3% in the last 24 hours, currently negotiating at $ 0.87 after a volatile session that saw the token more than 10% of value overnight.
Price action followed an AMA on Friday evening (Ask me anything) With the co -founder of Cardano, Charles Hoskinson, who expressed his long -term optimism for Cardano’s prospects, highlighting the next Midnight network – an initiative aimed at improving the confidentiality of blockchain data – as a major unlocking for activity.
He noted that the integration of bitcoin In the Cardano ecosystem could extend its user cases and its call to investors.
Hoskinson also discussed macro-events and market catalysts during its AMA. He said he expects two potential catalysts to shape cryptography markets in the coming months: a probable interest rate drop in September and the possible adoption of the law on the clarity of the digital asset market (CLARITY).
ADA price action
Den day from Sunday to Monday, ADA began to negotiate almost $ 0.901 before moving to an intraday summit of $ 0.963 on a volume peak, with 333.34 million tokens exchanged during the rally, according to Coindesk Research data. But this momentum has reversed.
ADA has dropped almost 10% to a minimum session of $ 0.862 before stabilizing around current levels. Support emerged around $ 0.856, a level where buyers intervened at volumes higher than average, showed the data.
ADA’s volatility increased to 10.48% compared to the session, reflecting the feeling of change of market and increased sensitivity to macroeconomic indices. This decision coincided with the larger market, the price of Bitcoin fell sharply on Sunday after a large whale spilled digital assets. The wider market index, Coindesk 20, has also dropped by more than 3%.
While ADA is still up 125% compared to a year ago, the token is down more than 70% compared to its $ 2.90 summit, reached in August 2021.
For the moment, however, ADA and the wider market of cryptography can remain linked to the beach as institutional investors and retail traders arise how regulators and central banks shape the next phase of the cryptographic cycle.
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