Cardano’s ADA slumped 10.33% to $0.2190 in the largest single-day percentage drop since June 5, according to Investing.com data. The decline pushed the token’s market capitalization to $8.08 billion, reducing its share of the total cryptocurrency market to 0.31%.
Trading volume surged to $1.21 billion over 24 hours, though the token remained within a narrow intraday range of $0.2189 to $0.2293. Over the past seven days, ADA still holds a gain of 24.37%, having fluctuated between $0.1715 and $0.2580.
The rout extended losses from ADA’s all-time high of $3.10 on September 2, 2021, leaving the token down 92.93% from that peak. The broader cryptocurrency market showed weakness as well, with Bitcoin falling 1.89% to $76,924.40 and Ethereum declining 4.15% to $2,410.71. Bitcoin’s market cap stood at $1.54 trillion, accounting for 59.37% of the crypto market, while Ethereum’s was $291.01 billion, or 11.19%.
