Cardano’s ADA experienced a slight dip of 1.71% over the past 24 hours, trading at approximately $0.6229 as of June 14. The price briefly fell to $0.6176 but quickly stabilized, demonstrating resilience despite a notable wave of selling from major holders. Recent market data reveals that whales have offloaded over 270 million ADA, valued at around $170 million, intensifying pressure on the token’s price amid a week of geopolitical uncertainty.
Despite the sell-off, Cardano made a strategic move to boost enterprise adoption. The Cardano Foundation recently launched Originate, a groundbreaking blockchain-based solution designed to verify product origin and authenticity. This innovative tool aims to streamline compliance processes and combat counterfeiting by enabling companies to digitize and track vital product data on-chain. Consumers and regulators can perform instant verifications, reinforcing transparency and trust in supply chains.
The Foundation highlighted that Originate is specifically crafted to enhance brand trust in sectors where supply chain transparency is paramount. By positioning itself as a tool that supports regulatory compliance and consumer confidence, this product could significantly elevate Cardano’s profile within the enterprise sector—especially at a time when investors are seeking practical use cases beyond DeFi and staking.
The recent addition of ADA to the Nasdaq Crypto Index, alongside giants like Bitcoin and Ethereum, marks a notable milestone, underscoring increasing institutional interest. While short-term market sentiment remains cautious due to whale activity and broader macroeconomic risk aversion, Cardano’s expanding role in institutional circles may provide a foundation for long-term stability.
From a technical perspective, ADA’s price ranged between $0.6176 and $0.6428, closing near $0.6229. Resistance remains solid around $0.642–$0.645, with a break below support at $0.636. Volume spikes after 18:00 GMT coincided with brief dips below $0.62, followed by consolidation. The overall trend remains bearish, characterized by lower highs throughout the day, with rejection at approximately $0.635. While the current action suggests some near-term stabilization, whale dominance continues to influence market direction.
