ADA (Cardano) fell 20.74% in 24 hours

Gate News Bot News, on October 11, according to CoinMarketCap data, as of the time of writing, ADA (Cardano) is currently priced at $0.65, down 20.74% in the last 24 hours, with a high of $0.88 and a low of $0.33. The current market capitalization is approximately $23.187 billion, a decrease of $6.067 billion compared to yesterday.

Cardano is a blockchain platform built on peer-reviewed research, aimed at providing the tools and technologies needed for changemakers, innovators, and visionaries to create possibilities for the public and bring about positive global change. Cardano is the first proof-of-stake blockchain platform built on a foundation of peer-reviewed research and developed using an evidence-based approach. It combines pioneering technology to provide unparalleled security and sustainability for decentralized applications, systems, and societies.

Important news about ADA recently:

1️⃣ The likelihood of ADA ETF approval being underestimated The market may be underestimating the possibility of the Cardano ADA ETF approval being delayed until 2026. This expectation gap may lead investors to have doubts about the short-term outlook for ADA, which in turn could affect its price performance.

2️⃣ Bitrue collaborates with Cardano to support community staking pools Bitrue announced a partnership with Cardano to delegate 5 million ADA tokens to the community staking pool. This move is expected to enhance the participation in the ADA ecosystem, potentially having a positive impact on its network security and decentralization in the long term.

3️⃣ Artificial Intelligence predicts ADA may surpass XRP by 2025 An artificial intelligence model predicts that by 2025, ADA may surpass XRP in terms of price growth. Although this prediction carries uncertainty, it may still attract investors' attention to ADA's long-term potential.

From a technical perspective, the price of ADA has recently experienced significant fluctuations, which may reflect the market's uncertainty about its future development prospects. On the fundamental side, Cardano continues to advance its technological development and ecosystem construction, but compared to other competitors, its price performance has been relatively flat, which may be one of the reasons for the lack of investor confidence in the short term.

This message is not intended as investment advice; investors should be aware of market volatility risks.