Cardano Plunges Over 10% as Crypto Market Sees Widespread Losses

Cardano (ADA) saw a sharp decline on Sunday, falling 10.26% to $0.5855 by 14:50 ET (18:50 GMT), marking its largest single-day drop since April 6, according to Investing.com data. This significant drop brought ADA’s market capitalization down to $20.97 billion, representing approximately 1.10% of the overall cryptocurrency market cap. For context, Cardano once reached a peak market cap of $94.80 billion.

Over the past 24 hours, ADA traded between $0.5855 and $0.6550. Over the last seven days, the altcoin has declined by 11.22%, with a weekly trading range of $0.5853 to $0.7071. Trading volume over the past 24 hours stood at $601.18 million, accounting for about 0.25% of the total crypto market volume.

Despite intermittent recoveries, Cardano remains significantly below its all-time high of $3.10, recorded on September 2, 2021 — a staggering 81.11% decline from that peak. The latest pullback reflects broader market weakness impacting altcoins and major cryptocurrencies alike.

Bitcoin (BTC) also faced downward pressure, dropping 5.16% to $78,755.5. The leading cryptocurrency maintains a dominant market cap of $1.58 trillion, about 83.12% of the total crypto market. Meanwhile, Ethereum (ETH) tumbled 10.62% to $1,603.31, with its market capitalization totaling $197.04 billion, or 10.34% of the overall market value.

The sharp sell-offs in Cardano, Ethereum, and Bitcoin highlight ongoing volatility in the crypto market, prompting investors to remain cautious amid uncertain sentiment and macroeconomic factors influencing digital asset prices.