CandleFocus Cardano (ADA) Drops 59% in Volume as Market Uncertainty Persists
2025-03-09
Author: Content Editor
Cardano (ADA) has seen a significant decline in trading volume, dropping 60% to $1.13 billion in the last 24 hours. Traders may be adopting a wait-and-see approach in the face of market volatility. ADA has experienced four consecutive days of decline, starting from a high of $0.989. The initial announcement of a crypto strategic reserve caused ADA to jump 72%, but uncertainty surrounding the plan led to a sell-off. The signing of a strategic Bitcoin reserve and the first-ever US crypto summit failed to boost market sentiment. The slump in other risky assets and the correction of the Nasdaq 100 Index further weighed on cryptocurrencies. If ADA continues to decline, it may consolidate between the daily moving averages of 50 and 200.
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