Cardano recorded heavy losses amid record profit-taking

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On Tuesday, the sixth biggest cryptocurrency by market capitalization suffered significant losses due to unprecedented profit-taking in the cryptoverse.

Cardano was trading at $1.527966 on Bitstamp at the time of publishing, rising 13.24 percent on the day.

Cardano’s market size has plummeted to about $53 billion, or around 2.24 percent of the entire digital currency market cap. Cardano’s market capitalization is estimated at $57 billion at its peak.

Cardano exchanged between $1.525797 and $1.82252 for the day. The value of the sixth biggest cryptocurrency by market capitalization has increased by around 23% in the last week.

Furthermore, cryptocurrency specialists talk about the fact that Cardano does not yet have smart contracts. If Cardano bears gain control, a drop below the $1.5 support area could trigger imminent trouble for traders, with Cardano dropping as low as $1.25. Nevertheless, the latest market movements suggest that cryptocurrency bulls could once again come to ADA’s rescue.

Cardano - Có còn tiềm năng hay không?

The rapidly growing cryptocurrency provides a proof-of-stake blockchain structure that allows inventors and blockchain programmers to positively generate international changes.

According to the latest chart trends on the everyday chart, the bulls are struggling for their lives at about $1.5, as Cardano briefly broke below $1.7875 amid unprecedented selling pressures. Nonetheless, some industry analysts believe that such a price range would draw Cardano buyers in the near future.

Cardano (ADA) has been predicted to outperform in previous months due to its recent improvement, which has made it more appealing for programmers to create their desired games.

Cardano is a kind of blockchain that allows users to send and receive money. The digital currency is known as ADA coin. It runs on the Cardano blockchain and, like Ethereum, helps users to create smart contracts.

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