Investing.com – Cardano, one of the hottest cryptocurrencies in the market, experienced a significant price drop on Monday. By 20:58 (00:58 GMT), Cardano was trading at $0.3271, marking a 10.27% decrease in value. This drop was the largest one-day percentage loss since July 4.
The downward movement in price caused Cardano’s market cap to decrease to $12.2404B, accounting for 0.61% of the total cryptocurrency market cap. In comparison, Cardano’s market cap had reached a high of $94.8001B.
Within the past twenty-four hours, Cardano’s price ranged from $0.3269 to $0.3458. Over the course of the last seven days, Cardano saw a significant loss of 17.55% in value. The trading volume of Cardano in the twenty-four hours leading up to the current price was $330.6182M, making up 0.41% of the total volume of all cryptocurrencies. During the past week, Cardano’s price fluctuated between $0.3269 and $0.4077.
Despite these fluctuations, Cardano’s current price reflects a decrease of 89.44% from its all-time high of $3.10, which was reached on September 2, 2021.
In the broader cryptocurrency market, Bitcoin and Ethereum also experienced price declines. Bitcoin was last seen trading at $55,864.4, down 8.03% on the day, while Ethereum’s price stood at $2,515.79, reflecting a loss of 13.68%.
Bitcoin’s market cap accounted for $1,118.0834B, representing 55.39% of the total cryptocurrency market cap, while Ethereum’s market cap totaled $315.7717B, making up 15.64% of the total cryptocurrency market value.
In conclusion, the recent price movements in Cardano, Bitcoin, and Ethereum highlight the volatility of the cryptocurrency market. Investors should closely monitor these fluctuations and consider diversifying their portfolios to mitigate risks. As always, it’s crucial to conduct thorough research and consult with financial advisors before making any investment decisions in the cryptocurrency space.