ADA (Cardano) fell 2.36% in the last 24 hours.

Gate News Bot news, on October 31, according to CoinMarketCap data, as of the time of writing, ADA (Cardano) is currently priced at $0.61, falling 2.36% in the last 24 hours, with a high of $0.69 and a low of $0.59. The 24-hour volume reached $1.212 billion. The current market capitalization is approximately $22.041 billion, a decrease of $532 million compared to yesterday.

Cardano is a blockchain platform developed based on peer-reviewed research and evidence-based methods. It is the first blockchain to implement the Ouroboros consensus protocol, which enables network decentralization at a sustainable scale without compromising security. Cardano aims to redistribute power from irresponsible structures to individuals, becoming a driving force for positive change and progress. The platform combines groundbreaking technology to provide unparalleled security and sustainability for decentralized applications, systems, and societies.

Important news about ADA recently:

1️⃣ The Potential Impact of the BitcoinOS Pre-sale Event on the Cardano Ecosystem The BitcoinOS (BOS) token presale event will end on October 22, and participants can choose to receive tokens using a Cardano (CNT) address. This option highlights the important role of the Cardano network in emerging projects, potentially bringing more ecosystem activity and attention to ADA. However, in the short term, this factor seems to have failed to boost the price performance of ADA.

2️⃣ The Trend of Cross-Chain Compatibility Expansion The BOS presale supports both ETH (ERC-20) and Cardano (CNT) addresses, indicating that Cardano is strengthening its interoperability with other mainstream blockchains. This development of cross-chain compatibility is expected to increase the utility and market demand for ADA, but has not yet been significantly reflected in the price trend.

3️⃣ Demand for non-custodial wallets is rising BitcoinOS emphasizes the use of non-custodial wallets for participating in presales, 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 not yet translated 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 quoted at $0.64, followed by an increase, but recently it has fallen back to $0.67. 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 maintains a high market position.

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