Cardano

Bitcoin

Polkadot

Show

Coin

<p>The cryptocurrency market has been on a rollercoaster ride recently, with Bitcoin (BTC) hitting a new all-time high before plunging to $59,000 within a matter of hours. This volatility has had a ripple effect on altcoins, with two prominent projects, Cardano (ADA) and Polkadot (DOT), experiencing significant price drops over the past 24 hours.</p> 
<h2 class="wp-block-heading" id="cardano-ada-falls-8-2">Cardano (ADA) Falls 8.2%&nbsp;</h2> 
<p>Cardano, the smart contract platform founded by Charles Hoskinson, has seen its native token, ADA, drop by 8.2% in the last 24 hours. ADA is currently trading at $0.7156, down from its 24-hour high of $0.7791.</p> 
<figure class="wp-block-image size-large">
 <img loading="lazy" decoding="async" width="1024" height="420" src="https://captainaltcoin.com/wp-content/uploads/2024/03/image-228-1024x420.png" alt="" class="wp-image-448853" srcset="https://captainaltcoin.com/wp-content/uploads/2024/03/image-228-1024x420.png 1024w, https://captainaltcoin.com/wp-content/uploads/2024/03/image-228-300x123.png 300w, https://captainaltcoin.com/wp-content/uploads/2024/03/image-228-766x314.png 766w, https://captainaltcoin.com/wp-content/uploads/2024/03/image-228-1536x630.png 1536w, https://captainaltcoin.com/wp-content/uploads/2024/03/image-228-2048x840.png 2048w, https://captainaltcoin.com/wp-content/uploads/2024/03/image-228-366x150.png 366w, https://captainaltcoin.com/wp-content/uploads/2024/03/image-228-100x41.png 100w, https://captainaltcoin.com/wp-content/uploads/2024/03/image-228-854x350.png 854w, https://captainaltcoin.com/wp-content/uploads/2024/03/image-228-788x323.png 788w, https://captainaltcoin.com/wp-content/uploads/2024/03/image-228.png 1793w" sizes="(max-width: 1024px) 100vw, 1024px">
</figure> 
<p>The recent price drop can be attributed to several factors, including a breakdown of the ascending channel pattern that ADA has been following. As the price broke below the channel’s support, it triggered a sell-off, exacerbated by the overall market volatility caused by Bitcoin’s sharp decline from its all-time high.</p> 
<p>Moreover, data from Coinglass reveals that funding rates for ADA have been at elevated levels for the past few days, indicating an overheated market. The recent price drop has led to a reset in funding rates, which could help stabilize the market in the short term.</p> 
<figure class="wp-block-image size-large">
 <img loading="lazy" decoding="async" width="1024" height="511" src="https://captainaltcoin.com/wp-content/uploads/2024/03/image-230-1024x511.png" alt="" class="wp-image-448869" srcset="https://captainaltcoin.com/wp-content/uploads/2024/03/image-230-1024x511.png 1024w, https://captainaltcoin.com/wp-content/uploads/2024/03/image-230-300x150.png 300w, https://captainaltcoin.com/wp-content/uploads/2024/03/image-230-768x383.png 768w, https://captainaltcoin.com/wp-content/uploads/2024/03/image-230-1536x766.png 1536w, https://captainaltcoin.com/wp-content/uploads/2024/03/image-230-2048x1022.png 2048w, https://captainaltcoin.com/wp-content/uploads/2024/03/image-230-301x150.png 301w, https://captainaltcoin.com/wp-content/uploads/2024/03/image-230-100x50.png 100w, https://captainaltcoin.com/wp-content/uploads/2024/03/image-230-702x350.png 702w, https://captainaltcoin.com/wp-content/uploads/2024/03/image-230-788x393.png 788w, https://captainaltcoin.com/wp-content/uploads/2024/03/image-230.png 1403w" sizes="(max-width: 1024px) 100vw, 1024px">
 <figcaption class="wp-element-caption">
  Source: <a href="https://www.coinglass.com/FundingRateHeatMap" target="_blank" rel="noreferrer noopener nofollow">Coinglass</a> (High funding rate before resetting)
 </figcaption>
</figure> 
<h2 class="wp-block-heading" id="polkadot-dot-mirrors-cardano-s-decline">Polkadot (DOT) Mirrors Cardano’s Decline</h2> 
<p>Polkadot, the multi-chain ecosystem founded by Ethereum co-founder Gavin Wood, has experienced a similar fate to <a class="wpil_keyword_link" href="https://captainaltcoin.com/cardano-ada-price-prediction/" title="Cardano" data-wpil-keyword-link="linked" target="_blank">Cardano</a>. DOT, the native token of the Polkadot network, is currently trading at $9.89, representing a 5.3% drop in value over the past 24 hours. DOT’s 24-hour high stands at $10.55.</p> 
<p>Like Cardano, Polkadot’s price action had been following an ascending channel pattern before the recent market turbulence. The breakdown of this pattern, combined with Bitcoin’s sharp decline, has led to a significant sell-off in DOT.</p> 
<p>Coinglass data also shows that funding rates for DOT have been at higher levels in recent days, suggesting an overheated market. The current price drop and funding reset could help cool down the market and provide a more stable foundation for future growth.</p> 
<figure class="wp-block-image size-large">
 <img loading="lazy" decoding="async" width="1024" height="420" src="https://captainaltcoin.com/wp-content/uploads/2024/03/image-229-1024x420.png" alt="" class="wp-image-448861" srcset="https://captainaltcoin.com/wp-content/uploads/2024/03/image-229-1024x420.png 1024w, https://captainaltcoin.com/wp-content/uploads/2024/03/image-229-300x123.png 300w, https://captainaltcoin.com/wp-content/uploads/2024/03/image-229-766x314.png 766w, https://captainaltcoin.com/wp-content/uploads/2024/03/image-229-1536x630.png 1536w, https://captainaltcoin.com/wp-content/uploads/2024/03/image-229-2048x840.png 2048w, https://captainaltcoin.com/wp-content/uploads/2024/03/image-229-366x150.png 366w, https://captainaltcoin.com/wp-content/uploads/2024/03/image-229-100x41.png 100w, https://captainaltcoin.com/wp-content/uploads/2024/03/image-229-854x350.png 854w, https://captainaltcoin.com/wp-content/uploads/2024/03/image-229-788x323.png 788w, https://captainaltcoin.com/wp-content/uploads/2024/03/image-229.png 1793w" sizes="(max-width: 1024px) 100vw, 1024px">
</figure> 
<h2 class="wp-block-heading" id="bitcoin-s-volatility-impacts-altcoin-market">Bitcoin’s Volatility Impacts Altcoin Market</h2> 
<p>The recent price drops experienced by Cardano and Polkadot can be largely attributed to the overall market volatility caused by Bitcoin’s sharp decline from its all-time high. As the world’s largest cryptocurrency by market capitalization, Bitcoin’s price movements often have a significant impact on the entire crypto market.</p> 
<p>In addition to the impact of Bitcoin’s volatility, the recent price drops in Cardano and Polkadot can also be attributed to profit-taking and consolidation. As both projects had experienced significant gains in recent weeks, some investors may have decided to lock in profits, leading to increased selling pressure.</p>  
<div class="wp-block-rehub-colortitlebox rh-colortitlebox" style="text-align:left;border-radius:5px;box-shadow:0 10px 10px #00000007;background-color:#fafafa;color:">
 <div class="rh-colortitle-inbox" style="background-color:var(--rehub-main-color);color:#fbfbfb;border-radius:5px 5px 0 0">
  <i class="rhicon rhi-bolt-regular rh-colortitlebox-icon" style="color:"></i>
  <div class="rh-colortitle-inbox-label">
   Explosion in Meme Coin Market; How to find potential successors to $BONK, $PEPE, and $WIF?
   <img src="https://s.w.org/images/core/emoji/14.0.0/72x72/1f92b.png" alt="🤫" class="wp-smiley" style="height: 1em; max-height: 1em;">
  </div>
 </div>
 <div class="rh-colortitlebox-text">
  <style scoped>.rh-toggler-open{height:auto !important}
.rh-toggler-open .rh-tgl-show, .rh-toggler-open .rh-tgl-grad{display:none !important}
.rh-toggler-open .rh-tgl-hide{display:block !important}
.rh-tgl-show, .rh-tgl-hide{cursor:pointer}
.rh-contenttoggler *{box-sizing: border-box !important}
.rh-toggler-wrapper{overflow: hidden;transition: all 0.5s ease; padding-bottom: 35px; margin-bottom:30px;box-sizing: content-box !important;position: relative;}
.rh-toggler-wrapper p:last-of-type {margin-bottom: 0;}</style> 
  <div class="wp-block-rehub-contenttoggler rh-contenttoggler" data-height="100px">
   <div class="rh-toggler-wrapper" style="height:100px"> 
    <p>The key? Getting in early, especially during the <strong>ICO phase</strong>. Check out <a href="https://captainaltcoin.com/go/ll_inside/" target="_blank"><strong>NuggetRush</strong></a> today! This pioneering memecoin combines play-to-earn gaming with authentic gold mining ventures. <a href="https://captainaltcoin.com/go/ll_inside/" target="_blank"><strong>Seize the opportunity</strong></a> with ongoing presale prices! Plus, prepare for $NUGX’s upcoming launch on major exchanges.</p> <span class="rh-tgl-trigger" style="text-align:center;position:absolute;z-index:2;bottom:0;left:0;width:100%;color:"><span class="rh-tgl-show" style="display:block">Show more +</span><span class="rh-tgl-hide" style="display:none">Show less –</span></span><span class="rh-tgl-grad" style="background-image:linear-gradient(to bottom,rgba(255,255,255,0) 0,#ffffff 100%);display:block;position:absolute;height:100px;bottom:0;left:0;z-index:1;width:100%"></span>
   </div>
  </div> 
 </div>
</div> 
<p>Moreover, the market may be undergoing a period of consolidation following the recent bullish run. This consolidation phase could help establish a new support level for ADA and DOT, providing a foundation for future price appreciation.</p> 
<p>As the cryptocurrency market continues to mature and evolve, investors should remain vigilant and prepared for periods of volatility. By understanding the underlying factors driving price movements, such as market sentiment, technical patterns, and funding rates, investors can make more informed decisions and navigate the complex world of digital assets more effectively.</p> 
<p>You may also be interested in:</p> 
<ul> 
 <li><a href="https://captainaltcoin.com/top-7-token-unlocks-to-watch-this-week-ethereum-name-serviceens-near-protocol-near-and-more/" target="_blank" rel="noreferrer noopener">Top 7 Token Unlocks to Watch This Week: Ethereum Name Service(ENS), Near Protocol (NEAR), and More</a></li> 
 <li><a href="https://captainaltcoin.com/theta-networks-theta-price-rallies-expert-highlights-potential-retest-level-but-theres-a-catch/" target="_blank" rel="noreferrer noopener">Theta Network’s (THETA) Price Rallies: Expert Highlights Potential Retest Level, But There’s a Catch</a></li> 
 <li><a href="https://captainaltcoin.com/advertising-potential-propels-deestream-dst-presale-as-100x-rumours-circulate-post-binance-coin-bnb-cardano-ada-whales-buy-in/" target="_blank" rel="noreferrer noopener">Advertising Potential Propels DeeStream (DST) Presale As 100X Rumours Circulate Post Binance Coin (BNB) &amp; Cardano (ADA) Whales Buy-In</a></li> 
</ul> 
<div class="bigofferblock margincenter mb30 pt20 pl20 pr20 " style=""> 
 <div class="col_wrap_two mb0"> 
  <div class="offerbox_big_wrap flowhidden"> 
   <div class="image position-relative text-center col_item mobileblockdisplay img-maxh-350 img-width-auto"> <a class="re_track_btn" href="https://captainaltcoin.com/go/ll_bottom/" target="_blank" rel="nofollow sponsored"> <img decoding="async" class="lazyload" data-skip-lazy="" data-src="https://captainaltcoin.com/wp-content/uploads/thumbs_dir/Copy-of-P2P-Review-17-qi3pqhl3pi3mlojv8nq0upz5rcb68rblc7kuvhcaou.png" width="500" alt="Check NuggetRush ($NUGX)" src="https://captainaltcoin.com/wp-content/themes/rehub-theme/images/default/blank.gif"> </a> 
   </div> 
   <div class="product-summary col_item mobileblockdisplay"> 
    <h3 class="product_title entry-title font150 lineheight25 mb30" id="a-class-re_track_btn-href-https-captainaltcoin-com-go-ll_bottom-target-_blank-rel-nofollow-sponsored-span-check-nuggetrush-nugx-span-a"> <a class="re_track_btn" href="https://captainaltcoin.com/go/ll_bottom/" target="_blank" rel="nofollow sponsored"> <span>Check NuggetRush ($NUGX)</span> </a> </h3> 
    <div class="rev_disclaimer font70 greencolor lineheight15 mb20">
     Sponsored: Invest Responsibly, Do Your Own Research.
    </div> 
    <div class="buttons_col mb25 rh_big_btn_inline"> 
     <div class="priced_block clearfix"> 
      <div> <a class="re_track_btn btn_offer_block" href="https://captainaltcoin.com/go/ll_bottom/" target="_blank" rel="nofollow sponsored"> Buy NUGX Today </a> 
      </div> 
     </div> 
    </div> 
    <div class="bigofferdesc">
     <i class="vertmiddle mr10 rhicon rhi-check-circle-solid greencolor font130"> </i>Being in its <strong>ICO stage</strong>, NuggetRush offers a prime opportunity for early investors to get in at potentially lower prices
     <br><i class="vertmiddle mr10 rhicon rhi-check-circle-solid greencolor font130"> </i>A unique <strong>play-to-earn</strong> gaming platform in the memecoin market
     <br><i class="vertmiddle mr10 rhicon rhi-check-circle-solid greencolor font130"> </i>The platform combines artisanal and <strong>gold mining</strong> with cryptocurrencies in an unusual gaming context, offering a distinctive and immersive experience
     <br><i class="vertmiddle mr10 rhicon rhi-check-circle-solid greencolor font130"> </i>Fosters a strong <strong>community </strong>by encouraging physical meetups among members
     <br><i class="vertmiddle mr10 rhicon rhi-check-circle-solid greencolor font130"> </i><strong>NFT</strong> Integration with Prominent Characters
    </div> 
   </div> 
  </div> 
 </div> 
</div> 
<p>The post <a href="https://captainaltcoin.com/cardano-ada-and-polkadot-dot-prices-plummet-heres-why/">Cardano (ADA) and Polkadot (DOT) Prices Plummet – Here’s Why</a> appeared first on <a href="https://captainaltcoin.com">CaptainAltcoin</a>.</p>

Cardano (ADA) and Polkadot (DOT) Prices Plummet – Here’s Why

목차

CaptainAltcoin

2024년 3월 6일에 게재된 다른 기사

Aptos and Lotte Group Subsidiary to Build Web3 Hub

Unlocking the Potential of Ripple and XRP:Bitcoin Investment

Cryptocurrency Market Sees a Mixed Bag as Bitcoin Recovers and Altcoins Show Varied Performance

The Launch of Raffle Coin (RAFF) Decentralized Platform Sees Solana (SOL) & Polkadot (DOT) Holder...

Coinbase advocates for reevaluation of crypto as securities in legal clash with SEC

Shiba Inu (SHIB) Bulls on Track, Will It New All-Time High?

무료 뉴스레터에 가입하여 매일 최신 암호화폐 소식을 받아보세요!