During the second week of October, bitcoin market values have maintained prices between $54K to $57K. Meanwhile, myriad alternative crypto assets have not yet seen the gains the leading crypto asset has enjoyed during the last two weeks. For instance, cardano used to be the third-largest crypto market in terms of valuation, but after losing 4.8% cardano has slid down to the fifth position this past week.
Cardano Drops from 3rd-Largest Crypto Market Cap to 5th-Largest
The digital currency cardano (ADA) has seen some decent gains during the last 12 months as ADA has increased by 1,840.5% year-to-date. Even Kiss frontman Gene Simmons told the world on October 10, why he invested $300K in cardano (ADA) and how it’s paid off for him so far. However, during the last month, ADA is down 18% and 4.8% over the last seven days. ADA’s market cap is not small and just under the stablecoin tether’s (USDT) overall valuation as cardano’s market cap is around $68.1 billion on Wednesday.
) on October 13, 2021. ADA
is down more than 30% since the crypto asset’s all-time high on September 2, 2021, reaching $3.09 per unit
ADA markets on Wednesday are seeing around $1.9 billion in global trade volume and the crypto exchange Binance currently captures the top cardano trade volume. Tether (USDT) is the top pair with cardano on Wednesday with 58.58% of all ADA trades. This is followed by BTC (10.91%), USD (5.75%), BUSD (5.61%), and EUR (3.89%). The Korean won commands the sixth-largest position with 3.44% of ADA swaps, while ETH commands around 2.69% of cardano exchanges today.