Cardano (ADA) faced a dramatic crisis in the last 24 hours, as its price took a nosedive with all the grace of a startled penguin. Notably, ADA’s value plummeted from an intraday peak of $0.3617 to a low of $0.3499, extending its weekly loss by 15.36%. One might say the crypto world held its breath, wondering if Cardano would finally succumb to the chaos.
Cardano narrowly defends top 10 market cap ranking
CoinMarketCap data reveals that Cardano, currently ranked 10th by market capitalization, was on the verge of being dethroned by Bitcoin Cash (BCH). Cardano’s market capitalization stands at $12.86 billion, while Bitcoin Cash is closing in with its $11.82 billion. A mere $1.69 billion drop in Cardano’s market cap would have been enough for Bitcoin Cash to steal its spot-a fate Cardano narrowly avoided, much to the relief of its loyalists.
The recent price antics could have sent Cardano tumbling down the rankings, but thanks to a last-minute intervention by unseen forces, it remains in the top 10. If ADA’s price had breached the $0.31 support level, its total market cap would have crashed to $11.17 billion, a scenario that would have made even the most ardent fans shudder.
Cardano crashed out of the elite league in 2024 and only rejoined in September of that year. Its lingering volatility raised concerns about its position in 2025 as investors’ interests declined. One can only hope the team has learned to curb its dramatics-or at least invest in a better PR department.
As of press time, Cardano exchanges hands at $0.3578, which represents a 0.49% decline in the last 24 hours. Its trading volume is marginally in the green zone by 0.02% at $633.54 million. The relentless sell-off by profit-hungry traders has kept Cardano’s growth at bay, proving that even the most promising projects need a bit of luck.
However, Cardano’s Relative Strength Index (RSI) at 37.9 suggests it’s not yet in the danger zone. Though the momentum is currently weak, it still could face further decline in price. For now, the threat has been averted, and its reputation as a top 10 asset remains intact-though one suspects it’s clinging to its status with the desperation of a moth to a flame.
To maintain its status, Cardano’s price needs to rebound and reclaim the $0.39 to $0.42 zone. If it climbs to this level and sustains the momentum, a more sustainable price rally can be anticipated on the ADA market. The asset traded at this level exactly seven days ago, supported by a massive surge in trading volume-though one wonders if the market is merely holding its breath for the next twist.
Ecosystem developments fuel rebound hopes
On the broader Cardano ecosystem, optimism remains high that the network will experience growth. Some in the community believe Cardano has gotten off to a bullish start with notable developments. These include a new exchange-traded fund (ETF) application for ADA, which is sure to thrill investors who have long awaited a chance to bet on the project’s future.
Other bullish moves include the listing of Cardano Midnight on Coinbase, finalization of CIP for Leios, and Google Cloud launching a stake pool on testnet. Many consider these developments to be indicative of a great 2026 ahead-though one might argue that “great” is a relative term in the world of crypto.
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2026-01-21 14:03