Cardano Price Plunge: Market Shifts as Cardano Drops 10% in One Day
Cardano's Recent Performance
Cardano (ADA) experienced a significant price drop on Thursday, trading at $0.8933 by 14:00 (19:00 GMT) on the Investing.com Index. This represented a 10.08% decline, its largest one-day percentage loss since March 3. The cryptocurrency's market cap fell to $31.4800B, accounting for 1.08% of the total cryptocurrency market cap. Cardano's price had fluctuated between $0.8868 and $0.9874 in the previous 24 hours.
Despite the daily drop, Cardano has shown resilience over the past week, gaining 36.21% in value. Its 24-hour trading volume reached $2.7308B, representing 2.49% of the total cryptocurrency volume. Over the past seven days, Cardano's price ranged from $0.5813 to $1.1562.
Broader Market Context
The cryptocurrency market saw broader declines, with Bitcoin and Ethereum also posting losses. Bitcoin traded at $88,428.7, down 1.45%, while Ethereum fell to $2,201.64, a 0.76% drop. Bitcoin's market cap dominated at $1,754.1268B (60.30% of the total market), followed by Ethereum at $265.2176B (9.12% of the total market value).
Cardano remains 71.17% below its all-time high of $3.10, reached on September 2, 2021. Its current performance highlights the volatility and shifting dynamics in the cryptocurrency market.
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