Cardano’s Ada
Was 1.71% fallen in the last 24 hours and traded at $ 0.6229 from June 14. The actively slipped to $ 0.6176 before stabilized, with a competitive wave of sale of large holders.
According to recent market data, whales have discharged more than 270 million ADA – around $ 170 million – in a movement that has added considerable pressure to the price action of the token for a week characterized by geopolitical volatility.
But in the midst of the sale, the Cardano Foundation revealed a new product aimed at the acceptance of companies. On Thursday, the organization launchedA blockchain-based solution for verifying product pads and authenticity. Designed to help companies streamline compliance and protect against falsifications, the company enables to digitize and follow critical product data in the chain, making immediate verification by consumers and supervisors possible.
On its website, the foundation emphasized that was created to strengthen brand confidence in industries where transparency of the supply chain is crucial. By positioning itself as a tool for compliance with the regulations and consumer insurance, the product can help strengthen the reputation of Cardano in Enterprise circles-especially at a time that investors are looking for real-world use cases outside Defi and commitment.
The announcement only comes a few days after Ada has been added to the Nasdaq Crypto Index, which became a member of Bitcoin and Ethereum. Although the short-term sentiment remains fragile due to whaling behavior and wider risk-off macrot trends, the growing institutional profile of Cardano can offer support in the longer term.
Technical analysis highlights
- ADA varied between $ 0.6176 and $ 0.6428, closing almost $ 0.6229, a daily loss of 1.71%.
- Resistance remains strongly close to $ 0.642 – $ 0.645, while the price under the support of $ 0.636 broke out.
- The heaviest volume spikes took place after 18:00 GMT when the price dropped below $ 0.62, which activated a short sale, followed by consolidation.
- Trend remains bearish with lower highlights that are formed during the day and rejection at $ 0.635.
- Price campaign suggests stabilization in the short term, but whales remain dominant in setting the market direction
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