Cardano Plunges 10% in a Day as Crypto Market Sees Widespread Losses

Cardano (ADA) tumbled 10.01% on Sunday, hitting $0.7275 by 13:56 (17:56 GMT) on the Investing.com Index, marking its steepest one-day drop since March 3. This decline slashed its market cap to $26.07 billion, accounting for 1.37% of the total cryptocurrency market. ADA has now lost 76.52% from its all-time high of $3.10, recorded on September 2, 2021.

Over the past 24 hours, Cardano fluctuated between $0.7275 and $0.8175, while its seven-day range spanned $0.7275 to $1.1562. The past week has been particularly brutal, with ADA losing 30.95% of its value. Trading volume in the last 24 hours stood at $1.29 billion, making up 0.54% of the total crypto market volume.

The broader crypto market also faced steep declines. Bitcoin (BTC) fell 4.13% to $82,392, bringing its market cap to $1.63 trillion—an 85.83% share of the total crypto market. Ethereum (ETH) also took a hit, dropping 8.05% to $2,022.03, with a market cap of $245.42 billion, representing 12.88% of the total crypto valuation.

With ADA struggling and the overall crypto market facing volatility, investors are watching closely for signs of stabilization. Will Cardano recover, or is further downside ahead? Stay tuned for more market updates.