Cardano experienced a significant downturn on Thursday, with its price falling 10.27% to $0.5456 by 09:48 ET (14:48 GMT) on the Investing.com Index. This marked its largest one-day percentage loss since July 4, as the cryptocurrency’s market capitalization dipped to $19.90 billion, representing just 0.66% of the total crypto market cap.
Over the past 24 hours, Cardano traded between $0.5455 and $0.5944, while its 24-hour trading volume reached $1.73 billion, or 0.61% of global cryptocurrency trading volume. Despite the sharp decline on Thursday, Cardano has seen a strong 51.93% increase over the past week.
However, at its current price, Cardano remains down 82.39% from its all-time high of $3.10, set on September 2, 2021. At its peak, the coin’s market cap soared to $94.80 billion, but the recent drop underscores the volatility and challenges the cryptocurrency faces.
Broader Cryptocurrency Market Performance
Elsewhere in the cryptocurrency market, Bitcoin was trading at $89,119.60, down 2.75% on the day, while Ethereum saw a sharper decline of 6.19%, trading at $3,118.36. Bitcoin’s market cap stood at $1.80 trillion, or 59.91% of the total cryptocurrency market cap, while Ethereum’s market cap was $381.68 billion, representing 12.71% of the market’s total value.
The market continues to experience volatility, with major assets like Bitcoin and Ethereum facing downward pressure while altcoins such as Cardano struggle to maintain momentum.
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