ADA (Cardano) fell 6.71% in the last 24 hours.

Gate News Bot news, on November 3rd, according to CoinMarketCap data, as of the time of writing, ADA (Cardano) is currently priced at $0.57, falling by 6.71% in the past 24 hours, with a high of $0.67 and a low of $0.57. The current market capitalization is approximately $20.577 billion, a decrease of about $1.48 billion compared to yesterday.

Cardano is a blockchain platform developed based on peer-reviewed research, aimed at providing the tools and technologies needed for changemakers, innovators, and visionaries to create possibilities for the masses and bring about positive global change. Cardano is the first proof-of-stake blockchain platform built on a foundation of peer-reviewed research and developed through an evidence-based approach. It combines cutting-edge technology to provide unparalleled security and sustainability for decentralized applications, systems, and societies.

Important news about ADA recently:

1️⃣ Impact of BitcoinOS Pre-sale on Cardano Ecosystem The BitcoinOS (BOS) token presale event will end on October 22, and participants can use their Cardano (CNT) addresses to receive tokens. This highlights the important position of the Cardano network in emerging projects, which is expected to bring more ecosystem activity and attention to ADA. However, in the short term, this factor has not effectively boosted the price performance of ADA.

2️⃣ Cross-chain compatibility expansion trend The BOS pre-sale supports both ETH (ERC-20) and Cardano (CNT) addresses, indicating that Cardano is actively enhancing interoperability with other mainstream blockchains. This development of cross-chain compatibility is expected to increase the utility and market demand for ADA, but it has not yet been clearly reflected in the price trends.

3️⃣ Demand for non-custodial wallets is rising BitcoinOS emphasizes the use of non-custodial wallets to participate in the presale, a trend that aligns closely with Cardano's decentralized philosophy. As user demand for non-custodial solutions increases, Cardano's native wallet and DeFi ecosystem may benefit, but this trend has yet to translate into upward momentum for the ADA price.

From a technical perspective, the price of ADA has experienced significant fluctuations over the past week. On October 23, it was priced at $0.64, followed by an increase, but recently it fell back to $0.67 and further declined to $0.57 on November 3. This price trend indicates uncertainty in the market regarding the short-term prospects of Cardano, which may be influenced by broader trends in the cryptocurrency market. Currently, ADA ranks 10th in global cryptocurrency market capitalization, demonstrating that it still maintains a high market position, but the recent downward trend is worth noting.

This message is not intended as investment advice; investors should be aware of market volatility risks.