Cardano Falls More Than 4% In 24 hours
Portfolio Pulse from Benzinga Insights
Cardano's (CRYPTO: ADA) price has decreased by 4.34% over the past 24 hours to $0.57, despite a 7.0% increase over the past week. The trading volume has decreased by 49.0%, while the circulating supply has increased by 0.34%. Cardano's market cap is currently ranked #8 at $20.04 billion.
December 18, 2023 | 7:00 pm
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NEGATIVE IMPACT
Cardano (ADA) experienced a 4.34% price drop in the last 24 hours, countering its recent weekly uptrend. The trading volume has significantly decreased, and the circulating supply has slightly increased.
The price drop of 4.34% in the past 24 hours is a significant short-term negative movement, which is likely to influence investor sentiment negatively. The decrease in trading volume suggests lower market activity, which could further impact the price negatively in the short term. However, the increase in circulating supply is a less immediate concern but could put downward pressure on the price if demand doesn't keep up.
CONFIDENCE 90
IMPORTANCE 75
RELEVANCE 100