Cardano Faces Largest One-Day Drop Since April: Down 10.08% Amid Crypto Market Volatility
Cardano Faces Significant One-Day Loss
Cardano (ADA) was trading at $0.4350 by 07:51 (11:51 GMT) on the Investing.com Index on Saturday, marking a significant drop of 10.08% on the day. This drop is the largest one-day percentage loss since April 13.
Market Cap Impact
The decline in Cardano's value pushed its market cap down to $15.6162B, accounting for approximately 0.61% of the total cryptocurrency market cap. At its peak, Cardano's market cap was $94.8001B, showcasing a substantial decrease over time.
Recent Trading Range
In the previous twenty-four hours, Cardano traded within a range of $0.4350 to $0.4493. Over the past seven days, the cryptocurrency has experienced a notable drop in value, losing 2.46%. The volume of Cardano traded in the last twenty-four hours was $776.2751M, accounting for 0.77% of the total volume of all cryptocurrencies. The trading range for Cardano in the past week was between $0.4305 and $0.4899.
Historical Context
At its current price, Cardano is still down 85.96% from its all-time high of $3.10 set on September 2, 2021. This significant decrease highlights the volatility and challenges faced by Cardano in maintaining its value over time.
Comparison with Major Cryptocurrencies
Bitcoin was last trading at $69,355.5 on the Investing.com Index, showing a decrease of 3.24% on the day. Bitcoin's market cap was recorded at $1,368.1534B, making up 53.75% of the total cryptocurrency market cap.
Ethereum Trends
Ethereum was trading at $3,681.54 on the Investing.com Index, experiencing a loss of 3.95%. Ethereum's market cap totaled $442.9123B, which is 17.40% of the total cryptocurrency market value.
Market Overview
The cryptocurrency market continues to display significant fluctuations, with major players like Bitcoin and Ethereum also experiencing losses, though not as steep as Cardano's. The performance of these cryptocurrencies reflects the overall volatility and dynamic nature of the market.
