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In the early hours of the day, the cryptocurrency market witnessed one of the most striking drops in recent times. The leading cryptocurrency, Bitcoin (BTC), dropped to levels of $25,400 during the day. Cardano (ADA), which recorded a loss of over 3% in the last 24 hours, started trading at levels around $0.26.
Crypto Market in Decline
With Bitcoin, the leading cryptocurrency, dropping to levels of $25,400 in the early hours of the day, the cryptocurrency market witnessed one of the most significant drops in recent times. Ethereum (ETH) also lost more than 6% in the last 24 hours and started trading at levels of $1660.
The total market value of the crypto industry dropped to $1.06 trillion, according to CoinMarketCap (CMC) data. Additionally, the volatility in the cryptocurrency market reached its highest level in recent times. According to Coinglass data, over $1 billion in liquidation occurred in the last 24 hours.
What’s the Current Status of Cardano (ADA)?
The downward trend in the cryptocurrency market and the impact of value losses in BTC have accelerated the downward price movements of many high-market-value cryptocurrencies since the morning hours. XRP, which recorded double-digit losses in the last 24 hours, dropped to $0.5 and became the cryptocurrency with the highest percentage of value loss among the top 10 cryptocurrencies in terms of market capitalization.
On the other hand, Cardano (ADA), which has relatively lower price performance compared to many high-market-value cryptocurrencies in recent weeks, was one of the cryptocurrencies with the least value loss among the top 10 cryptocurrencies in terms of market capitalization. ADA started trading at levels around $0.26, recording an average loss of 3% in the last 24 hours.
ADA’s market capitalization dropped below $10 billion after the recent declines since yesterday evening. Additionally, there were significant increases in ADA’s trading volumes. ADA’s total trading volume in the last 24 hours showed an increase of nearly 90%.
