Cardano Drops Over 10% as Crypto Market Declines

Cardano (ADA) fell 10.07% to $0.7364 by 17:57 (22:57 GMT) on the Investing.com Index, marking its biggest one-day loss since February 2. The decline pushed Cardano’s market cap down to $25.82 billion, representing 0.81% of the total cryptocurrency market. ADA had traded between $0.7158 and $0.8195 in the past 24 hours.

Over the last week, Cardano has dropped 19.33%, with its price ranging from $0.5377 to $0.9877. Trading volume in the past 24 hours reached $1.61 billion, or 0.83% of the total crypto market volume. Despite recent gains earlier in the year, ADA remains 76.24% below its all-time high of $3.10, set on September 2, 2021.

Bitcoin (BTC) also declined, trading at $97,537, down 4.07%. Meanwhile, Ethereum (ETH) dropped 6.82% to $2,676.37. Bitcoin's market cap stood at $1.92 trillion, making up 60.54% of the total crypto market, while Ethereum's market cap was $320.68 billion, accounting for 10.11%.

The broader crypto market remains volatile as traders react to macroeconomic conditions and shifting investor sentiment. Analysts suggest that ADA’s recent pullback aligns with the broader market downturn, though long-term holders remain optimistic about its future.

As the market fluctuates, investors closely watch Bitcoin and Ethereum’s price movements for signs of stability. Meanwhile, Cardano’s next key support level is closely monitored as traders assess potential buying opportunities.

Stay updated on crypto trends as the market navigates ongoing fluctuations.