Cardano (ADA) Hits One-Year Low and 87% Down From ATH

Altcoin News

• Cardano recently dropped to a one-year all-time low, now trading around $0.396842.
• ADA witnessed a massive price drop since Mid of the year.

Cardano (ADA), one of the leading altcoins, is dramatically crashing down in the crypto market, hitting its one-year all-time low of around $0.39. According to CoinGecko, the Cardano reached its lowest value during the year in the past 24 hours. It also registered a sudden plummet to nearly 6.2% in the previous day.

Cardano Price Chart (Source: Tradingview)

At the time of writing, Cardano (ADA) is currently trading around $0.396842 with a one-day trading volume of $577,111,384. The price of ADA has decreased by nearly 7.4% in the last 7 days. 

Will ADA Survive? 

Since May, the Cardano blockchain’s native currency, ADA, has been witnessing a tremendous price fall in the market. At the beginning of 2022, ADA traded around $1. Even though the price of ADA has sharply declined as of mid of the current year. Currently, the eighth largest cryptocurrency, as per CoinGecko, is too far away from its one-year all-time high of $2.38. Moreover, the current price actions of Cardano indicate the high possibility of getting down again. 

The global cryptocurrency market is showing a red signal currently. Apart from Cardano, all the leading coins such as Bitcoin (0.61%), Ethereum (1.54%), Binance coin (0.72%), XRP (4.79%), Solana (3.16%), Dogecoin (1.96%), Polygon (0.99%) and Shiba Inu (4.74%) are also registering a significant downfall in the past 24 hours. 

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