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Cardano (ADA) has taken a significant hit as its price plummeted below the crucial $0.65 mark, making it the worst-performing top 10 altcoin amid the tumultuous environment created by President Donald Trump’s tariff policy.
According to CoinMarketCap data, ADA is currently trading at $0.6570, marking a daily decline of 2.69% and a substantial weekly loss of over 11.68%. The situation becomes even more precarious when considering that Cardano’s price action has been struggling since mid-March to stay above the psychological support level of $0.70.
The cryptocurrency market as a whole is also showing signs of distress, with total crypto market capitalization remaining stagnant at around $2.68 trillion. While Bitcoin dominance remains unchanged, altcoins are indeed facing an uphill battle, with even leading coins like XRP and Ethereum experiencing double-digit losses on the weekly scale. Solana, another prominent altcoin, has suffered a 12.68% decline over the past week.
Cardano’s predicament is particularly concerning due to its position as one of the top 10 cryptocurrencies by market capitalization. This underscores the gravity of the situation and highlights the need for an immediate turnaround in sentiment.
The bearish momentum driving ADA’s price downward has been compounded by a lack of buying interest, with trading volumes plummeting to approximately $669 million over the past 24 hours. For comparison, Solana and XRP have recorded much higher volumes of $2.66 billion and $4.12 billion, respectively, during the same time frame. The diminished buying activity suggests that even fewer traders are willing to take on risk in the current market conditions.
With ADA now firmly below the critical $0.66 mark, it is crucial for investors to reassess their positions and consider alternative assets that may be better positioned to withstand the current market tumult.
Source: https://coinchapter.com/cardano-ada-plunges-below-0-65-becomes-worst-performing-top-10-altcoin-amid-trumps-tariff-shock/?utm_source=rss&utm_medium=rss&utm_campaign=cardano-ada-plunges-below-0-65-becomes-worst-performing-top-10-altcoin-amid-trumps-tariff-shock
