Cardano Drops 10% During Selloff

Cardano experienced a significant drop in trading, with its value standing at $0.3271 as of 20:58 (00:58 GMT) on Monday, marking a decline of 10.27% for the day. This loss represents the largest daily percentage decrease since July 4.

This downturn resulted in Cardano’s market capitalization falling to $12.24 billion, accounting for 0.61% of the overall cryptocurrency market cap. At its peak, Cardano’s market cap was approximately $94.80 billion.

In the previous 24 hours, Cardano’s trading range fluctuated between $0.3269 and $0.3458. Over the past week, the cryptocurrency has seen a 17.55% drop in value, with a 24-hour trading volume of $330.62 million, representing 0.41% of the total cryptocurrency trading volume. In the past week, the trading range for Cardano was between $0.3269 and $0.4077.

At its current price, Cardano remains down 89.44% from its all-time high of $3.10, reached on September 2, 2021.

In the broader cryptocurrency market, Bitcoin was trading at $55,864.40, down 8.03% for the day. Ethereum’s price was at $2,515.79, reflecting a loss of 13.68%. Bitcoin’s market cap was approximately $1.12 trillion, making up 55.39% of the total cryptocurrency market cap, while Ethereum’s market cap stood at about $315.77 billion, or 15.64% of the total.