Cardano Falls More Than 3% In 24 hours
Portfolio Pulse from Benzinga Insights
Cardano's (CRYPTO: ADA) price has decreased by 3.09% over the past 24 hours to $0.58, despite a 10% increase over the past week. The trading volume has increased by 8.0%, while the circulating supply has decreased by 0.3%. Cardano's current market cap is $20.46 billion, ranking it 9th.
January 12, 2024 | 3:03 pm
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NEGATIVE IMPACT
Cardano (ADA) has seen a 3.09% price drop in the last 24 hours, but an overall 10% increase over the week. The market cap remains strong at $20.46 billion.
The short-term price drop of 3.09% is likely to influence investor sentiment negatively, despite the overall weekly gain. The increase in trading volume suggests heightened activity, which could either indicate a potential rebound or further sell-offs, depending on market perception. The decrease in circulating supply could be seen as positive in the long term but may not have an immediate impact on the price.
CONFIDENCE 90
IMPORTANCE 75
RELEVANCE 100