Cardano’s ADA Dips 7% as Broader Market Sheds 2% Over the Weekend

TL;DR

• ADA is the worst performer among the top 10 cryptocurrencies by market cap, down 7% in the last 24 hours.

• The total crypto market cap has dipped by roughly 2% over the weekend.

ADA Underperforms as BTC and Others Remain in the Red

ADA, the native coin of the Cardano blockchain, is the worst performer among the top 10 cryptocurrencies by market cap. The coin is down 7% over the last 24 hours and could dip further as the broader market looks bearish.

At press time, ADA’s price stands at $0.9384 per coin. There is no catalyst behind this bearish performance, as Bitcoin and other major cryptocurrencies are also underperforming.

Bitcoin, the leading cryptocurrency by market cap, is down 1% in the last 24 hours and continues to trade below $94k per coin. Ether has lost 2% of its value and risks dropping below $3,200. 

Tron (TRX) and Dogecoin (DOGE) are both down 3%, while Solana (SOL) and BNB have lost 2% of their values over the weekend.

With the leading cryptocurrencies underperforming, the total cryptocurrency market cap has dropped to $3.25 trillion, down 1.7%. As the selloff continues, the total crypto market cap has declined by nearly $100 billion over the last few days.

However, investors are optimistically looking forward to next week’s inauguration. Many are confident that the Trump administration will usher in good times for the crypto market and are already positioning themselves for the rally.