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Cardano’s native cryptocurrency ADA continued its upward trend throughout the day, despite the market starting with a decline, and started trading at levels of $0.25 after recording a low increase of 0.2% within the last 24 hours.
What is the Current Situation in the Cryptocurrency Market?
The cryptocurrency market started the day with a decline as the leading cryptocurrency Bitcoin dropped to $25,500 in the morning. Most altcoins in the cryptocurrency market experienced further losses during the day due to the decline in BTC.
According to CoinMarketCap (CMC), the total market value of the cryptocurrency ecosystem decreased to $1.04 trillion. Additionally, according to Coinglass data, the cryptocurrency market saw the liquidation of short and long positions worth an average of $45 million in the last 24 hours.
However, despite the downward trend in the cryptocurrency market, Cardano (ADA) continued to rise and stood out positively from the market. Cardano’s native cryptocurrency ADA recorded a low increase of 0.2% on average.
What is the Current Situation of Cardano (ADA)?
Cardano (ADA), which reached price levels of $0.27 last Tuesday and then experienced a decline along with the downward trend in the cryptocurrency market, has started consolidating around $0.25 levels in recent days. Furthermore, ADA, which continued to rise after the market started with a decline, recorded a low increase of 0.2% on average according to CMC data within the last 24 hours and started trading at $0.25 levels.
According to the crypto analysis platform Santiment, there has been a significant increase in on-chain transaction volume in Cardano. However, many metrics have experienced significant declines in recent weeks. Cardano’s TVL had a decline exceeding 9% according to DeFiLlama data. Additionally, despite the positive deviation from the market during the day, ADA also experienced a decrease of over 8% in total trading volume within the last 24 hours.
