Cardanos ada
Was down 1.71% over the last 24 hours and traded at $ 0.6229 per June 14. The asset slid short to $ 0.6176 before stabilizing and holding its foot despite a sharp wave of sales from large holders.
According to the recent market data, whales have relieved over 270 million ADA – Worth approx. $ 170 million – in one step that has added considerable pressure to token’s price action over a week marked with geopolitical volatility.
Nevertheless, in the middle of the sale, the Cardano Foundation revealed a new product aimed at business recording. On Thursday, the organization launched Store, a blockchain-based solution for verification of product origin and authenticity. Designed to help companies streamline compliance and protect against counterfeiting, stems from allows companies to digitize and track critical product data on-chain, enabling immediate verification of consumers and supervisory authorities.
On its website, the fund emphasized that tribes are built to strengthen fire confidence in industries where the supply chain transparency is critical. By placing oneself as a tool for regulatory compliance and consumer insurance, the product can help strengthen Cardano’s reputation in corporate circles icing at a time when investors are looking for cases in the real world beyond defi and efforts.
The message comes just days after Ada was added to the Nasdaq Crypto Index, where he joins Bitcoin and Ethereum. While short-term mood remains fragile due to whale behavior and wider risk trends of risk-off, Cardano’s expanding institutional profile could provide long-term support.
Technical analysis highlights
- ADA varied between $ 0.6176 and $ 0.6428 and closed nearly $ 0.6229, a 1.71% daily loss.
- The resistance remains strong near $ 0.642- $ 0.645, while the price broke during the $ 0.636 support.
- The heaviest volume tips occurred after 18:00 GMT when the price dipped less than $ 0.62, which triggered short sales followed by consolidation.
- Trend remains Bearish with lower heights that form all day and rejection of $ 0.635.
- Price action suggests stabilization in the short term but whales remain dominant by setting market direction
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