News

Cardano Price Dips 3%: Why Is ADA Falling?

As the rest of the cryptocurrency market wades through a correction, Cardano price has tumbled by nearly 3%, with ADA trading at $0.69.
Published by
Cardano Price Dips 3%: Why Is ADA Falling?

Highlights

  • Cardano price is down 3% over the last day as the downtrend continues.
  • The SEC delay in approving a spot Cardano ETF is stoking a wave of bearish sentiment for prices.
  • The rest of the cryptocurrency market has declined by nearly 1% in the last 24 hours.

Cardano price is undergoing a torrid patch as market sentiment turns negative for the tenth-largest cryptocurrency by market capitalization. ADA has fallen by 3% on the 24-hour chart, but weekly charts reveal an even steeper drop for the asset. The recent ETF delay by the SEC and the broader market decline are contributing to Cardano’s underwhelming price performance.

Advertisement

Cardano Price Falls By 3% Over The Last Day

According to data from CoinMarketCap, the Cardano price has taken a major hit over the weekend to trade at $0.69. The data from the crypto market aggregator indicates that ADA has fallen by 3% in the last 24 hours, accentuating a negative market sentiment.

Amid the price decline, daily transaction volumes have tumbled by 17.33% to settle at $841 million. A closer look at the charts reveals an even steeper drop of over 8% in the last seven days for the asset.

The Cardano price performance has gone contrary to market expectations, with analysts predicting ADA to rally by 6X.

At current prices, Cardano’s market capitalization sits at $24.3 billion, making it the tenth-largest cryptocurrency in terms of market size. The recent price decline led to Tron flipping Cardano to occupy the ninth place with its $25 billion market capitalization.

Advertisement

Why Is ADA Down?

Several reasons are in play for the Cardano price drawdown over the weekend. Firstly, market sentiment swung from optimistic to pessimistic after the SEC delayed a Cardano ETF application by Grayscale during the week.

In the build-up to the decision day, odds for a potential approval soared to 71%, stoking enthusiasm for an ADA rally. Ahead of the SEC’s decision, Cardano’s daily transactions reached 50,000 from previous lows of under 30,000. However, since the delayed decision, daily transaction volumes have fallen to 36,000.

Furthermore, Cardano’s price decline may be linked to profit-taking from the buzz associated with the SEC ETF decision. Technicals are also painting a grim picture for with several indicators hinting at a sustained drawdown for the Cardano price.

The recent cryptocurrency market downturn is also affecting ADA’s price, with several assets shedding a significant portion of their value over the last day. SOL, DOGE, and TRON are facing their fair share of bearishness as the global cryptocurrency market value loses nearly 1% in market capitalization.

 

Advertisement

Share
Aliyu Pokima

Aliyu Pokima is a seasoned cryptocurrency and emerging technologies journalist with a knack for covering needle-moving stories in the space. Aliyu delivers breaking news stories, regulatory updates, and insightful analysis with depth and precision. When he's not poring over charts or following leads, Aliyu enjoys playing the bass guitar, lifting weights and running marathons.

Published by
Why trust CoinGape: CoinGape has covered the cryptocurrency industry since 2017, aiming to provide informative insights to our readers. Our journalists and analysts bring years of experience in market analysis and blockchain technology to ensure factual accuracy and balanced reporting. By following our Editorial Policy, our writers verify every source, fact-check each story, rely on reputable sources, and attribute quotes and media correctly. We also follow a rigorous Review Methodology when evaluating exchanges and tools. From emerging blockchain projects and coin launches to industry events and technical developments, we cover all facets of the digital asset space with unwavering commitment to timely, relevant information.
Investment disclaimer: The content reflects the author’s personal views and current market conditions. Please conduct your own research before investing in cryptocurrencies, as neither the author nor the publication is responsible for any financial losses.
Ad Disclosure: This site may feature sponsored content and affiliate links. All advertisements are clearly labeled, and ad partners have no influence over our editorial content.

Recent Posts

  • News

Coinbase CEO Says Market Structure Bill Will Pass by Year-End Despite Government Shutdown

Coinbase CEO Brian Armstrong has said he expects the long-awaited U.S. crypto market structure bill…

October 24, 2025
  • News

Breaking: Trump To Meet China’s President On October 30, Bitcoin Bounces

Bitcoin surged above $111,000 after confirmation that President Donald Trump and Chinese President Xi Jinping…

October 23, 2025
  • News

Breaking: Trump Pardons Binance’s Changpeng “CZ” Zhao, BNB Spikes

U.S. President Donald Trump has reportedly pardoned Binance founder Changpeng "CZ" Zhao for his conviction…

October 23, 2025
  • News

Peter Schiff Challenges Binance Founder CZ to Debate as Bitcoin Vs. Gold Rivalry Heats Up

Bitcoin critic and renowned economist Peter Schiff has challenged Binance co-founder Changpeng "CZ" Zhao to…

October 23, 2025
  • News

Robinhood Lists HYPE As Hyperliquid Flips CZ Backed Aster In Perp DEX Volume

Crypto exchange Robinhood has listed Hyperliquid's native token HYPE for its U.S. clients. This comes…

October 23, 2025
  • News

Expert Warns More Crypto Bloodbath Ahead of CPI Data Tomorrow

The U.S. Bureau of Labor Statistics (BLS) will release the Consumer Price Index (CPI) data…

October 23, 2025