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Market crash sees ADA fall to a multi-month low, DOT and AVAX drop out of the top ten

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  • The price of Cardano’s native token ADA sank to $0.82 after enduring more losses today
  • Binance USD has moved to 9th in market capital, displacing Avalanche and Polkadot that have suffered heavy losses today

Cryptocurrencies are trading in the red on Tuesday as the bloodbath persists on account of the growing tensions between Russia-Ukraine. Market data shows that only Terra’s LUNA has registered a green candle in the last few hours.

Bitcoin dropped below $36,500 earlier today for the first time since 4th February, setting a multi-week low of $36,488 as per CoinMarketCap. Though the OG cryptocurrency has since steadily climbed back to $37,600 as of writing, it is still down 2.85% in the last 24 hours. The current Bitcoin price means it has shed almost 14% in one week.

Ether has recorded a bigger slump and is now down 15.12% over the last seven days. The second-largest crypto-asset crashed to a February low of $2,510.68 as per market data but has managed to reclaim $2,600. Ether is currently hovering marginally above this level, having lost 4.28% since yesterday.

XRP and ADA have been hit hardest

Ripple’s XRP sitting in sixth and seventh-placed Cardano (ADA) have the biggest red candles among the top 20 cryptocurrencies as of writing.

The two fell to intraday lows of $0.6788 and $0.82 as the pullback intensified. The former has dropped by 10.15% in the last 24 hours, changing hands just above $0.70. ADA has moved up to $0.87, with its current 24 hr change standing at a negative 7.67%.

The meme coins have suffered similar losses. Dogecoin has dipped 6.30%, while Shiba Inu has posted a relatively higher loss of 7.90% in the last 24 hours. Polkadot, which has been eclipsed by Binance USD, has plunged 4.59% in the same period and is now trading at $16.24.

LUNA hasn’t dipped as much as the rest

Meanwhile, Terra’s LUNA is moving against the general bearish mood. LUNA/USD trading chart on CoinMarketCap shows the token plummeted alongside other altcoins to a 24-hr low of $48.59 before embarking on a recovery run.

The pair climbed to $53 before retreating briefly and shooting towards $54. The token corrected after failing to cut above this level but surged again, crossing $55. LUNA is, as of writing, trading $53.04 –down 0.35% in the last 24 hours. Other altcoins like Solana (SOL), Polygon (MATIC), and Algorand (ALGO) have all registered more than 5% in losses in the same timeframe.

The post Market crash sees ADA fall to a multi-month low, DOT and AVAX drop out of the top ten appeared first on The Home of Altcoins: All About Crypto, Bitcoin & Altcoins | Cointext.com.

Market crash sees ADA fall to a multi-month low, DOT and AVAX drop out of the top ten

 

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