Cardano (ADA) suffered one of its sharpest single-day declines of the year, plunging 37.4% in the past 24 hours to around $0.5068 at the time of writing, according to CoinMarketCap. The collapse came as the broader crypto market reeled from heavy liquidations, with over $5 billion wiped out across exchanges and Bitcoin briefly falling below $107,000.
ADA’s market capitalization dropped nearly 39% to $18.15 billion, while 24-hour trading volume spiked 84% to $2.23 billion, signaling intense selling pressure. The coin’s value tumbled from the $0.80 range earlier in the day as cascading liquidations hit leveraged traders, erasing nearly all weekly gains.
Despite the sharp decline, some analysts note that Cardano’s fundamentals remain intact, with upcoming governance upgrades and on-chain activity continuing to expand. However, if ADA fails to reclaim the $0.60 resistance, further downside toward $0.45–$0.48 remains possible.
For now, ADA holders face heightened volatility as the market adjusts to macro uncertainty and a broad deleveraging phase across digital assets.
