Logo
Cardano Ecosystem

Elevenews

04/19/2023

·

279 views


Cardano Loses $1 Billion in Market Cap Following ADA Price Dump: What Happens Next? - ELEVENEWS

The recent correction on the crypto market has had a significant impact on Cardano (ADA), resulting in a loss of $1 billion in market capitalization. This occurred as ADA’s price dropped by more than 9%, with...

Cardano Loses $1 Billion in Market Cap Following ADA Price Dump: What Happens Next? - ELEVENEWS

The recent correction on the crypto market has had a significant impact on Cardano (ADA), resulting in a loss of $1 billion in market capitalization. This occurred as ADA’s price dropped by more than 9%, with the token’s price offsetting all the gains of recent days at its peak. According to CoinMarketCap, Cardano’s market capitalization currently stands at $14.58 billion, making it the seventh largest cryptocurrency. ADA to USD by CoinMarketCap

However, there is a silver lining to this correction as we can note the fact that the ADA price managed to find support near the $0.41 per token zone. This indicates that there are big buyers willing to take the risk and buy the token at these values with a view to growth. What’s next for Cardano (ADA)? Obviously, now in the absence of its own fundamental triggers, the price movement of Cardano token is subject to the market trend. If the correction that took place was a kind of attempt to drop the most greedy investors, as well as latecomers, and after the “cleanup” the market will continue to grow, then ADA will be fine.

It is important to note that the cryptocurrency market is volatile, and corrections like this are not uncommon. The market remains unpredictable, but if the cleanup leads to further growth, Cardano has the chance to bounce back stronger than ever.

News Source

AD

Delegate Your Voting Power to FEED DRep in Cardano Governance.

DRep ID: drep12ukt4ctzmtf6l5rj76cddgf3dvuy0lfz7uky08jfvgr9ugaapz4 | We are driven to register as a DRep by our deep dedication to the Cardano ecosystem and our aspiration to take an active role in its development, ensuring that its progress stays true to the principles of decentralization, security, and community empowerment.DELEGATE VOTING POWER!


Read Original Article on Elevenews

ORIGINAL SOURCE

https://elevenews.com/2023/04/19/cardano...

Disclaimer: Cardano Feed is a Decentralized News Aggregator that enables journalists, influencers, editors, publishers, websites and community members to share news about the Cardano Ecosystem. User must always do their own research and none of those articles are financial advices. The content is for informational purposes only and does not necessarily reflect our opinion.


An image that says Learn Blockchain technology and get ahead in the industry with a link to the Cardano Academy.

More from Elevenews

See more
Solana vs Cardano: Which Ethereum Competitor Will Prevail? - ELEVENEWS
Elevenews
Solana vs Cardano: Which Ethereum Competitor Will Prevail? - ELEVENEWS

11/07/2023

·

609 views

Related News

See more

Featured News

See more



    DEFAULTENGLISH (EN)SPANISH (ES)RUSSIAN (RU)GERMAN (DE)ITALIAN (IT)POLISH (PL)HUNGARIAN (HU)JAPANESE (JA)THAI (TH)ARABIC (AR)VIETNAMESE (VI)PERSIAN (FA)GREEK (EL)INDONESIAN (ID)ROMANIAN (RO)KOREAN (KO)FRENCH (FR)CZECH (CS)PORTUGUESE (PT)TURKISH (TR)