ADA Hovers Around $0.62 as New Enterprise Product Launch Offsets Whale-Driven Pressure
0Cardano’s ADA steadied near $0.62 after $170M in whale selling, while the Foundation launched Originate to help brands verify product authenticity.
Cardano's ADA ADA$0.62199 was down 1.71% over the past 24 hours, trading at $0.6229 as of June 14. The asset briefly slipped to $0.6176 before stabilizing, holding its footing despite a sharp wave of selling from large holders.
According to recent market data, whales have offloaded over 270 million ADA —worth roughly $170 million — in a move that has added significant pressure to the token’s price action during a week marked by geopolitical volatility.
Yet, amid the sell-off, the Cardano Foundation unveiled a new product aimed at enterprise adoption. On Thursday, the organization launched Originate, a blockchain-based solution for verifying product origin and authenticity. Designed to help businesses streamline compliance and protect against counterfeits, Originate allows companies to digitize and track critical product data on-chain, enabling instant verification by consumers and regulators.
On its website, the Foundation emphasized that Originate is built to strengthen brand trust in industries where supply chain transparency is critical. By positioning itself as a tool for regulatory compliance and consumer assurance, the product may help bolster Cardano’s reputation in enterprise circles —especially at a time when investors are searching for real-world use cases beyond DeFi and staking.
The announcement comes just days after ADA was added to the Nasdaq Crypto Index, joining Bitcoin and Ethereum. While short-term sentiment remains fragile due to whale behavior and broader risk-off macro trends, Cardano’s expanding institutional profile could provide longer-term support.
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Siamak Masnavi is a researcher specializing in blockchain technology, cryptocurrency regulations, and macroeconomic trends shaping the crypto market. He holds a PhD in computer science from the University of London and began his career in software development, including four years in the banking industry in the City of London and Zurich. In April 2018, Siamak transitioned to writing about cryptocurrency news, focusing on journalism until January 2025, when he shifted exclusively to research on the aforementioned topics.
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