Cardano’s ADA Drops 1.71% as Whales Sell 270 Million Tokens

Cardano’s ADA token experienced a 1.71% decline on June 14, trading within a range of $0.6176 to $0.6428. The price drop was attributed to significant selling activity by large holders, commonly referred to as whales, who reportedly sold 270 million ADA, valued at approximately $170 million. This substantial sell-off added considerable pressure to the token’s price, especially during a week marked by geopolitical tensions.

Despite the sell-off, the Cardano Foundation introduced a new product aimed at enhancing enterprise adoption. The Foundation launched Originate, a blockchain-based solution designed to verify product origin and authenticity. This tool allows businesses to digitize and track critical product data on the blockchain, enabling instant verification by consumers and regulators. The Foundation highlighted that Originate is built to strengthen brand trust in industries where supply chain transparency is crucial, positioning it as a tool for regulatory compliance and consumer assurance.

The launch of Originate comes at a time when investors are seeking real-world use cases beyond decentralized finance (DeFi) and staking. This new product may help bolster Cardano’s reputation in enterprise circles, providing longer-term support for the token. The announcement follows the recent addition of ADA to the Nasdaq Crypto Index, joining Bitcoin and Ethereum, which further solidifies Cardano’s expanding institutional profile.

Technical analysis indicates that ADA’s price action suggests near-term stabilization, but whales remain dominant in setting market direction. The token faced strong resistance near $0.642–$0.645 and broke below support at $0.636. The heaviest volume spikes occurred after 18:00 GMT as the price dipped below $0.62, triggering a brief sell-off followed by consolidation. The trend remains bearish with lower highs forming throughout the day and rejection at $0.635.