Market Cap: $2,433,734,905,168
24h Vol: $111,960,740,931
Cryptocurrencies: 28622
Markets: 116228
Cryptocurrencies: 28622
Markets: 116228
Market Cap: $2,433,734,905,168     
24h Vol: $111,960,740,931
Seeking Alpha 2023-01-18 23:34:02

Why did cardano drop today? Renewed macro concerns hit crypto market

Why did cardano drop today? Renewed macro concerns hit crypto market
Cardano ( ADA-USD ) dropped as much as 5.4% on Wednesday as the broader cryptocurrency market traded in the red amid renewed growth concerns spurred by weak economic data. Also weighing on sentiment was the arrest of Anatoly Legkodymov, founder of crypto exchange Bitzlato, who has been charged with money laundering and ransomware. Cardano's ( ADA-USD ) market cap currently stands at ~$11.38B, up ~39% this year as investors return to risky bets after a protracted risk-off sentiment last year. Interestingly, Cardano's native overcollateralized stablecoin Djed is on track for launch this month, which will likely add to buying pressure in the days ahead. Earlier, DoJ charged Bitzlato founder with money laundering and ransomware .
esptco-banner img
Latest News

Videos

  • Ethereum Explained: What is Ethereum & How Does it Work? Simply Explained!

  • What is Basic Attention Token (BAT)? (EXPLAINED)

  • DEFI: What is Defi? A Beginner's Guide to Decentralized Finance!

  • A Step by Step Guide To Use and Utilize Cryptocurrency!

Our Partners

Hashing Ad Space
Inbound Junction
Magic Logix
Asimi
Crypto Marketing Agency, FINPR
Chainwire