ADA Price Declines 3.77% Amid Increased Volume and Leios Upgrade Focus
Cardano's ADA token fell to $0.5818, decreasing 3.77% in 24 hours and extending weekly losses. Trading volume surged by 38.39% above the 7-day average.
Input Output Global (IOG) reaffirmed its plans for the Leios upgrade through a recent thread on X. Key features of Leios include:
- Optimized transaction processing and resource utilization
- Introduction of endorsements for security and data availability
- Improvements in overall throughput
Leios, first introduced in November 2022, aims to address scalability limits of previous designs like Praos and Genesis with significant architectural changes. IOG CEO Charles Hoskinson projected the upgrade to go live on Cardano's mainnet in 2026, accelerated from an initial estimate of 2028.
Long-term holders are withdrawing ADA from centralized exchanges, indicating confidence in its future.
Technical Analysis Highlights
- ADA fluctuated within a 7.15% range, dropping from $0.605 to a low of $0.562.
- A support zone formed around $0.562–$0.576, peaking at 175M volume.
- Price stabilized between resistance at $0.582–$0.588 and support at $0.573–$0.582.
- Decreasing volume patterns suggest potential accumulation.
- In the last hour, ADA decreased from $0.585 to $0.582.
- A sell-off at 12:48 breached the $0.583 support; consolidation occurred near $0.582.
- Volume spikes at 12:39 and 12:48 marked key inflection points.