Cardano Decreases More Than 3% Within 24 hours
Portfolio Pulse from Benzinga Insights
Cardano (CRYPTO: ADA) has seen a 3.9% decrease in price over the last 24 hours, falling to $0.72, despite a 6.0% gain over the past week. The trading volume has decreased by 6.0%, while the circulating supply has increased by 0.56%, reaching 35.18 billion. ADA's market cap ranking is currently #9 at $25.48 billion.
March 08, 2024 | 7:00 pm
News sentiment analysis
Sort by:
Ascending
NEGATIVE IMPACT
Cardano (ADA) experienced a 3.9% price decrease to $0.72 over the last 24 hours, despite a recent upward trend. The trading volume has decreased by 6.0%, and the circulating supply has increased, affecting its market dynamics.
The short-term price decrease of Cardano (ADA) is significant due to its contrast with the recent upward trend, indicating potential volatility. The decrease in trading volume suggests lower market activity, which could further impact its price negatively in the short term. The increase in circulating supply, while contributing to the overall market cap, may also put downward pressure on the price due to increased availability.
CONFIDENCE 90
IMPORTANCE 90
RELEVANCE 100