Cardano’s Price Tanks as Trading Volume Dries Up—Another ’Stable’ Crypto Bet Goes Sour

Cardano (ADA) bulls got a rude awakening this week as the token bled value alongside plummeting trading volume. The so-called ’Ethereum killer’ now looks more like a ghost chain—just another casualty in crypto’s endless hype cycle.

Price action tells the story: ADA slid 8% in 24 hours, with spot volumes down 35%. Traders are fleeing to greener pastures (or just cashing out), leaving die-hard ’HODLers’ to cope with bag-holding duty.

Funny how these ’institutional-grade’ blockchains always crumble when retail loses interest. Maybe Charles Hoskinson should host another AMA—that’ll fix it.

Cryptocurrency prices FAQs

How do new token launches or listings affect cryptocurrency prices?

Token launches influence demand and adoption among market participants. Listings on crypto exchanges deepen the liquidity for an asset and add new participants to an asset’s network. This is typically bullish for a digital asset.

How do hacks affect cryptocurrency prices?

A hack is an event in which an attacker captures a large volume of the asset from a DeFi bridge or hot wallet of an exchange or any other crypto platform via exploits, bugs or other methods. The exploiter then transfers these tokens out of the exchange platforms to ultimately sell or swap the assets for other cryptocurrencies or stablecoins. Such events often involve an en masse panic triggering a sell-off in the affected assets.

How do macroeconomic releases and events affect cryptocurrency prices?

Macroeconomic events like the US Federal Reserve’s decision on interest rates influence crypto assets mainly through the direct impact they have on the US Dollar. An increase in interest rate typically negatively influences Bitcoin and altcoin prices, and vice versa. If the US Dollar index declines, risk assets and associated leverage for trading gets cheaper, in turn driving crypto prices higher.

How do major crypto upgrades like halvings, hard forks affect cryptocurrency prices?

Halvings are typically considered bullish events as they slash the block reward in half for miners, constricting the supply of the asset. At consistent demand if the supply reduces, the asset’s price climbs.