Cardano Drops 10.41% in a Day as Crypto Market Sees Red

Cardano (ADA) saw a sharp decline on Monday, dropping 10.41% to $0.6856 by 17:54 (22:54 GMT) on the Investing.com Index. This marked its largest one-day loss since February 24. The decline brought Cardano’s market cap down to $24.8 billion, representing 0.81% of the total crypto market. ADA remains significantly below its all-time high of $3.10, set on September 2, 2021, down 77.88% from that peak.

Over the past 24 hours, Cardano traded between $0.6815 and $0.7773, with a seven-day range of $0.6815 to $0.8180. The altcoin has lost 13.12% in the past week, reflecting ongoing market volatility. Trading volume in the last 24 hours reached $871.5 million, accounting for 0.71% of total crypto transactions.

Bitcoin (BTC) also faced losses, falling 3.30% to $92,634. Its market cap stood at $1.85 trillion, dominating 60.82% of the total cryptocurrency market. Meanwhile, Ethereum (ETH) dropped 9.38% to $2,540.84, with a market cap of $311.8 billion, making up 10.25% of the total market value.

As the broader crypto market experiences turbulence, investors remain cautious amid price swings and declining valuations. Market trends suggest continued uncertainty, with traders watching key support and resistance levels closely.

Despite current setbacks, Cardano remains a significant player in the crypto ecosystem. However, with prices fluctuating, investors are weighing potential recovery opportunities against ongoing volatility.