The short-term price drop of 4.71% is a significant movement, indicating a bearish trend that could impact investor sentiment. However, the increase in trading volume suggests heightened interest which might cushion the fall. The decrease in circulating supply could be seen as a positive in the long term, but it is unlikely to immediately counteract the price drop. The market cap ranking indicates Cardano remains a major player in the crypto space, which may help in maintaining investor confidence.