Cardano’s ADA token fell 3% over the past 24 hours, and is currently trading at $0.87 after a volatile session that saw swings exceeding 10%. This fluctuation followed a Friday night AMA with Cardano co-founder Charles Hoskinson, who expresses optimism for the platform’s future, highlighting the upcoming Midnight Network aimed at enhancing blockchain data privacy as a pivotal development.

Key Points:

• ADA declined 3% daily after a night marked by volatility, where it fluctuated between $0.862 and $0.963.
• Hoskinson indicated that a possible interest rate cut by the Federal Reserve and the Digital Asset Market Clarity Act might significantly influence crypto prices in the near future.
• The ADA price is showing signs of stabilization as traders assess regulatory changes and hints of institutional interest.

Overnight, ADA began trading near $0.901 before peaking at $0.963 amidst increased trading volumes. However, it later retraced to a session low of $0.862 and has since stabilized above $0.856, where buying interest was notably strong. ADA’s volatility peaked at 10.48%, illustrating a market sensitive to external economic factors.

While ADA shows a 125% increase compared to last year, it has dropped more than 70% from its all-time high of $2.90, reached in August 2021. In light of the current climate, both ADA and the wider crypto market seem poised for a period of range-bound trading as market participants closely monitor regulatory influences.