Cardano ADA News: Price Declines Amidst Decreased Volume, But Shows Strong Weekly Gain

Cardano Price Declines Amidst Decreased Volume

Cardano (ADA) price has corrected from $0.9401 to $0.8740, marking a 7.03% decline in the last 24 hours. The daily trade volume also dropped by 15.38% to $2,955,947,345. This decline in both price and volume suggests a possible trend reversal, potentially due to a loss of interest from market participants amidst recent developments and macroeconomic factors. Despite this, Cardano gained 47.76% in the last 7 days, with a total market capitalization of $30,786,699,526.

Cardano Foundation Partners With World’s Largest State-Owned IT Company

The Cardano Foundation has announced a strategic partnership with SERPRO (Serviço Federal de Processamento de Dados), the world’s largest state-owned information technology company and Brazil’s primary provider of government technology solutions. The collaboration, announced on March 6, 2025, aims to advance blockchain-based innovation, digital infrastructure, and education for the country’s federal administration. SERPRO, which handles 33 billion transactions annually and manages more than 30.4 petabytes of data across various cloud platforms, is crucial for Brazil’s digital government services.

Cardano (ADA) Elliott Wave Analysis

In this technical article, we analyze the Elliott Wave charts of Cardano (ADAUSD). The analysis suggests that Cardano has recently completed an expanded flat pattern against the 0.514 low and made a rally as expected. The Elliott Wave expanded flat is a 3 wave corrective pattern labeled as A, B, C with an inner 3,3,5 structure. Third wave C is always a 5 waves structure.

Why is the Cardano (ADA) Price Down Today?

Cardano (ADA) dropped to $0.82 after Trump’s executive order, with some attributing the dip to a ’sell the news’ reaction. The order focused solely on bitcoin, despite earlier speculation that it would include ADA. Additionally, Cardano’s founder, Charles Hoskinson, was not invited to Trump’s March 7 White House crypto summit, raising concerns about his role in future regulatory discussions. Earlier, on March 3, Cardano’s native token saw a substantial resurgence, with its price exploding by 60% daily and reaching over $1.10 following Donald Trump’s statement about establishing a strategic crypto reserve.