“Cardano’s Ada Steadied Near $ 0.62 After $ 170m in Whale Selling, While The Foundation Launched Original to Help Brands Verify Product Authenticity.”, – WRITE: www.coindesk.com
Was Down 1.71% Over The Past 24 Hours, Trading at $ 0.62229 As of June 14. The asset Briefly slipped to $ 0.6176 before stabilization, Holding it FOOTING DESPITE A shars.
Access to Recent Market Data, Whales had offloaded over 270 Million ada —WORTH ROUGHLY $ 170 MILLION – IN A MOVE THAT HAS ADDED SIGNFICANT Pressure Volatility.
Yet, Amid The Sell-Off, The Cardano Foundation Unveiled a New Product Aimed at Enterprise Adoption. On Thursday, The Organization Launched Original, A Blockchain-Basted Solution for Verify Product Origin and Authenticity. Designed to Help Businesses Streamline Compliance and Protect Against CounterFeits, Original ALLOWS Companies to Digitize and Track Citical Product Data on -chain, Enabling Instan regulators.
On it website, the Foundation Emphasized that Original Is Built to Strengten Brand Trust in Industries WHERE SUPPLY CHAIN TRANSPARYNCY IS Critical. By Positioning ITSELF as A Tool for Regulatory Compliance and Consumer Assurance, The Product May Help Bolster Cardano’s Reapproition in Enterprise Circles —Especially at a Time in Use Cases Beyond Defi and Staking.
The Announcement Comes Just Days After Ada was Added to the Nasdaq Crypto Index, Joering Bitcoin and Ethereum. While Short-Term Sentiment Remains Fragile Due to Whale Behavior and Broader Risk-Off Macro Trends, Cardano’s Expanding Institutional Profile Could Provide Longerm Support.
Technical Analysis Highlights
- Ada Ranged Between $ 0.6176 and $ 0.6428, Closing Near $ 0.6229, A 1.71% Daily Loss.
- Resistance Remains Strong Near $ 0.642– $ 0.645, While Price Broke Below Support AT $ 0.636.
- Heaviest Volume Spikes Occurred After 18:00 GMT As Price Dipped Below $ 0.62, Triggering Brief Sell-Off Followed by Consolidation.
- Trend Remains Bearish with Lower Highs Forming Througout The Day, and Reed at $ 0.635.
- Price Action Suggests Near-Term Stabilization, But Whales Remain Dominant in Setting Market Direction
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