Cardano Price Drops to $0.8864, Sees Largest One-Day Loss Since December 2024
Cardano Price Plummets to $0.8864
Cardano's price tumbled to $0.8864 on Monday, experiencing a 10.20% drop, its largest one-day percentage loss since December 9, 2024. This downward movement reduced its market cap to $31.4651B, representing 0.93% of the total cryptocurrency market cap.
Market Cap and Trading Range
At its peak, Cardano's market cap reached $94.8001B, far above its current valuation. Over the past 24 hours, the cryptocurrency traded between $0.8863 and $0.9576. In the last seven days, Cardano's price has declined by 15.58%, with trading volumes reaching $840.8012M, or 0.68% of the total cryptocurrency volume.
Comparison to All-Time High
Cardano's current price is 71.40% below its all-time high of $3.10, recorded on September 2, 2021. This significant drop underscores the volatility and challenges in the cryptocurrency market.
Broader Cryptocurrency Market Performance
Bitcoin and Ethereum also saw notable declines. Bitcoin fell to $98,484.7, down 6.19%, while Ethereum dropped to $3,069.23, losing 8.17%. Bitcoin's market cap dominated at $1,960.2964B (58.08% of the total market), followed by Ethereum at $371.6230B (11.01%).
Conclusion
Cardano's recent price drop highlights the ongoing instability in the cryptocurrency market. Investors should remain cautious, considering the significant fluctuations in major cryptocurrencies like Bitcoin and Ethereum.
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