Cardano Price Plummets to 10.21% Daily Loss Amid Crypto Market Downturn
Cardano's Sharp Decline
Cardano (ADA) experienced a significant price drop, trading at $0.6575 on Tuesday, marking a 10.21% daily loss. This decline represents its largest one-day percentage loss since March 9. The cryptocurrency's market cap fell to $23.6991B, accounting for 0.93% of the total cryptocurrency market cap.
Recent Trading Range and Performance
Over the past 24 hours, Cardano traded between $0.6554 and $0.6813. In the last seven days, its value has dropped by 21.54%, with trading volumes reaching $1.8729B, or 1.31% of the total cryptocurrency volume. Cardano remains 78.78% below its all-time high of $3.10, set on September 2, 2021.
Broader Crypto Market Trends
The downturn in Cardano's price reflects broader cryptocurrency market weakness. Bitcoin fell 5.21% to $77,050.0, while Ethereum dropped 10.79% to $1,816.76. Bitcoin's market cap stood at $1,557.7083B (60.84% of the total crypto market), and Ethereum's market cap was $225.3009B (8.80% of the total market value).
This sharp decline underscores the volatility and risks inherent in the cryptocurrency market, with major coins experiencing significant price swings in recent days.
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