Bloody Monday: Cardano Not Spared From Bloodbath, Suffers 30% Loss

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Bloody Monday: Cardano Not Spared From Bloodbath, Suffers 30% Loss - NewsBTC

Quick Summary:

Although ADA shows almost no change in price since it peaked in May, analysts like Ellert show the possibility that the token might rocket upwards again just like what it did in the past.My friends, It is time.pic.twitter.com/sWR7yXDtgS — Benjamin Cowen (@intocryptoverse) August 2, 2024 Bullish or not, Cardano is a tested system that shows market downturn won’t stop its operations.

Bitcoin and Ethereum, the two top cryptocurrencies, saw their prices decrease by 24% and 31% respectively since last week, showing the market’s vulnerability to the spreading macroeconomic fears in private equity. Cardano Remains Great… Back In July On-chain, Cardano solidified its position as a major player in the crypto space.

Staked ADA stooped low as the market flipped from bullish to bearish, prompting a 15-30% decrease in total value locked on Cardano-related chains. The selling pressure remains at a high level due to the market’s continuous bearishness.