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Cardano Plummets to 10.13% Daily Loss Amid Broader Crypto Market Downturn

Cardano's price dropped significantly, marking its largest one-day percentage loss since August 19, while Bitcoin and Ethereum also saw declines in a challenging day for cryptocurrencies.
Published on 2022-10-13

Cardano's Sharp Decline

Cardano's price fell to $0.3545 as of 06:28 (10:28 GMT) on Thursday, representing a 10.13% daily loss. This marked its largest one-day percentage drop since August 19. The cryptocurrency's market cap dropped to $12.3849B, accounting for 1.37% of the total crypto market cap. Cardano traded within a 24-hour range of $0.3544 to $0.3821.

Over the past seven days, Cardano has declined by 16.22%, with its price ranging from $0.3544 to $0.4302 during this period. The 24-hour trading volume for Cardano was $694.1319M, representing 1.43% of the total crypto market volume.

Cardano's Long-Term Perspective

At its current price, Cardano remains 88.56% below its all-time high of $3.10, which was reached on September 2, 2021. This highlights the significant downward trend the cryptocurrency has experienced over the past two years.

Broader Crypto Market Trends

The downturn in Cardano's price reflects a broader decline in the cryptocurrency market. Bitcoin was last trading at $18,810.2, down 1.89% on the day, while Ethereum fell to $1,243.64, losing 4.31%.

Bitcoin's market cap stood at $364.0035B, representing 40.27% of the total crypto market cap. Ethereum's market cap was $156.3612B, accounting for 17.30% of the total cryptocurrency market value.

The declines across major cryptocurrencies underscore the ongoing volatility and challenges in the crypto market.

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