Cardano Falls 10% In Selloff
Cardano’s Price Plummets
Cardano experienced a significant drop in value, trading at $0.5308 on the Investing.com Index, marking a 10.25% decrease on Monday. This sharp decline represented the largest one-day percentage loss since December 11.
Impact on Market Cap
The downward trend caused Cardano’s market cap to plummet to $19.0921B, constituting 1.23% of the total cryptocurrency market cap. This is a stark contrast to its peak market cap of $94.8001B.
Trading Performance
Within the previous twenty-four hours, Cardano fluctuated within a range of $0.5250 to $0.5978. Over the past week, the cryptocurrency saw a significant 35.27% increase in value, with a trading volume of $1.2689B. This accounted for 1.48% of the total volume of all cryptocurrencies and ranged from $0.3971 to $0.6459.
Comparison to All-Time High
Despite its recent gains, Cardano remains substantially below its all-time high of $3.10 recorded on September 2, 2021, with a current decline of 82.87%.
Elsewhere in the Crypto Market
Bitcoin’s Performance
Bitcoin experienced a 6.68% decrease, closing at $40,892.0 on the Investing.com Index.
Ethereum’s Price Movement
Ethereum also faced a downturn, trading at $2,186.07 on the Investing.com Index, reflecting a loss of 6.79%.
Market Cap Comparison
Bitcoin’s market cap stood at $809.0785B, representing 52.15% of the total cryptocurrency market cap, while Ethereum’s market cap totaled $264.9466B, constituting 17.08% of the total cryptocurrency market value.
