What Does Cardano Need to Recover After a 20% Monthly Drop?

Current Price and Market Activity: Cardano's price is around $0.64, having dropped over 20% in the past month, but showed a slight recovery with a 2.6% daily gain and a 1.2% weekly rise as traders monitor key support levels and market volume.

Transaction Milestone and Network Usage: Cardano has processed over 115 million transactions in its eight years of operation, indicating steady adoption and network reliability, which is highlighted by community discussions on social media.

Institutional Developments: The addition of ADA to the ProShares Trust Index ETF has improved its visibility among traditional investors, potentially enhancing its discoverability on brokerage platforms and expanding institutional interest.

Future Monitoring and Analysis: Traders are focused on the $0.64 support level, looking for signs of stabilization and higher lows, while also keeping an eye on transaction activity and updates from developers to gauge Cardano's market performance moving forward.