Cardano Price Crashes Amid Market-Wide Sell-Off Despite Strong Monthly Gains
The crypto market experienced a downturn today, affecting Cardano's price as well. Despite its monthly gain of 14.4%, ADA is trading at $0.2143, down 2.8% intraday and with a market cap of $8.014 billion and $451.143 million in 24-hour trading volume, according to CoinGecko data.
This comes amidst a market-wide sell-off, where total crypto market cap sits at $2.76 trillion, down 1.3% in a day, with $96.9 billion changing hands in 24 hours. Bitcoin holds 57% dominance and Ethereum holds 10.9%. The x402 payment codebase now includes Cardano as working part of its mainnet, preprod, and preview testnet.
Additionally, AlphaGrowth will hold its first public PRIME update today, covering the Cardano Ecosystem Audit findings and a 12-month DeFi build plan. Analysts note that Cardano's monthly gain suggests underlying demand has not faded despite the pullback, and they are watching the $0.197 to $0.214 zone for near-term direction.