Cardano (ADA) Faces Ongoing Challenges Amidst Market Turbulence
As the cryptocurrency landscape continues to face significant volatility, Cardano (ADA) remains under pressure, struggling to regain its footing. The broader crypto market recently experienced a substantial downturn, with an estimated $110 billion wiped out in less than a day, highlighting the current market fragility.
Impact of Whale Activity on Cardano
One of the contributing factors to Cardano’s recent struggles is the intensified selling pressure from major holders, often referred to as “whales.” In the past week, these large investors have offloaded over 350 million ADA tokens, reflecting a heightened level of caution.
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Current Price and Market Performance
Currently, Cardano’s price has dipped by 1.55%, with the token trading at $0.677 as of Thursday, October 16. This decline coincides with a significant drop in daily trading volume, which has decreased by nearly 20% to $1.15 billion, indicating a reduction in market activity.
Decline in Futures Open Interest
The uncertainty surrounding Cardano is further reflected in the decline of its futures open interest, which has fallen by approximately 4% over the past 24 hours, according to CoinGlass data. This decline suggests that traders are exhibiting less confidence in taking on riskier positions within the Cardano market.
Challenges for Cardano ETFs
Investor sentiment has also been dampened by doubts about the approval of Cardano exchange-traded funds (ETFs) in the near future. Notably, the likelihood of an ADA ETF materializing in 2025 has decreased from 91% on October 14 to 72% on October 16, as reported by the cryptocurrency prediction platform Polymarket.
ADA Price Prediction for October 2025
As both Cardano and the wider cryptocurrency market strive for recovery, Finbold’s AI price prediction tool offers insights into ADA’s future. By leveraging three large language models (LLMs) and momentum-driven technical indicators, a prediction for October 31 suggests a continued downward trend, with the potential for Cardano to trade as low as $0.64, implying a -5.75% descent from current levels.
Bearish Sentiment Among Prediction Models
The LLMs used in this analysis present a unanimous bearish outlook. Claude Sonnet 4 predicts the lowest price for Cardano at $0.62 (-8.69%), while Grok 3 and GPT-4o both forecast a decline to $0.65 (-4.28%). Despite this somber outlook, some analysts maintain a more optimistic perspective. Market expert Ali Martinez, for instance, suggests the possibility of ADA reaching $1.88 if it surpasses the $0.9 threshold.
Investor Sentiment and Macroeconomic Influences
Recent market developments have heightened investor caution, a sentiment likely exacerbated by ongoing trade tensions and broader macroeconomic uncertainties. As Cardano navigates these challenges, the cryptocurrency community remains vigilant, closely monitoring potential opportunities and risks.
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