Cardano, a prominent cryptocurrency known for its innovative blockchain technology and smart contract capabilities, experienced a notable decline of 3% in its value as a significant market sell-off continues to affect various cryptocurrencies. This downward trend in Cardano's price has been exacerbated by the anticipation and excitement surrounding an upcoming midnight airdrop, which has led to increased volatility and fluctuations in its trading activity. Investors and traders are closely monitoring these developments, hoping to navigate the turbulent market conditions while looking for potential opportunities resulting from the airdrop event.
source: https://www.coindesk.com/markets/2025/08/05/cardano-drops-3-as-market-sell-off-persists-midnight-airdrop-sparks-volatility