Cardano Down More Than 3% Within 24 hours
Portfolio Pulse from Benzinga Insights
Cardano (CRYPTO: ADA) has experienced a 3.11% decrease in price over the last 24 hours, marking a continuation of its 25% decline over the past week, from $0.60 to $0.45. The trading volume for ADA has risen by 39% in the same period, while its circulating supply increased slightly by 0.03% to over 35.29 billion, representing 78.43% of its maximum supply. Currently, Cardano's market cap ranks it 11th at $15.99 billion.
April 16, 2024 | 3:02 pm
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NEGATIVE IMPACT
Cardano's price has decreased by 3.11% in the last 24 hours, with a significant 25% drop over the past week. The trading volume has increased by 39%, and the circulating supply has seen a minor increase.
The significant price drop of 3.11% in the last 24 hours, coupled with a 25% decrease over the past week, indicates a bearish trend for Cardano. The increase in trading volume suggests higher market activity, possibly as investors react to the price changes. The slight increase in circulating supply may also impact the price dynamics. Given these factors, the short-term impact on ADAUSD is likely negative.
CONFIDENCE 85
IMPORTANCE 90
RELEVANCE 100