The post Cardano Price Crash – Will ADA Drop Below $0.50? appeared on BitcoinEthereumNews.com.

Cardano (ADA) has been on a rollercoaster ride lately, with its price holding above $0.87 but showing signs of uncertainty. Many investors are wondering if it can maintain this level or if it’s heading for a bigger drop. In this Cardano Price Prediction article, we’ll dive into what’s driving ADA’s price movement, the key levels to watch, and what could happen if it falls below the $0.87 mark. How has the Cardano (ADA) Price Moved Recently? ADA/USD daily chart- TradingView Cardano (ADA) is currently priced at $0.89808, with a 24-hour trading volume of $3.80 billion, a market capitalization of $31.54 billion, and a market dominance of 0.93%. Over the past 24 hours, its price has dropped by 8.85%. The all-time high for Cardano was $3.10, achieved on September 2, 2021, while its all-time low was $0.017354, recorded on October 1, 2017. Since its peak, the lowest price ADA reached was $0.234392 (cycle low), and the highest price since that low was $1.32242 (cycle high). Current sentiment around Cardano’s price is neutral, with the Fear & Greed Index indicating a level of 74, signaling “Greed.” Cardano’s circulating supply stands at 35.12 billion ADA out of a maximum supply of 45 billion ADA. With a yearly supply inflation rate of 3.84%, approximately 1.30 billion ADA have been minted in the past year. Why Is the Cardano (ADA) Price Down? The recent decline in Cardano’s (ADA) price can be attributed to broader macroeconomic factors, particularly the Federal Reserve’s (Fed) latest interest rate decision. On Wednesday, the Fed cut the federal funds rate by 25 basis points, bringing it to a range of 4.25% to 4.50%. While this rate cut aligned with market expectations, the crypto market, including ADA, experienced a downturn following the announcement. The market’s negative reaction likely stems not from the…

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Filed under: News - @ December 20, 2024 8:19 am