Why Cardano's Cryptocurrency Is Plummeting This Week
The cryptocurrency market is getting hit with another week of big sell-offs, and Cardano's (CRYPTO: ADA) ADA token has been caught up in the negative market momentum. The cryptocurrency was down 11.2% over the last week of trading as of 4 p.m. ET on Friday, according to data from S&P Global Market Intelligence.
Only a handful of the top-50 largest cryptocurrencies managed to end the last week of trading in the green, and most were down double digits across the stretch. In addition to the specter of rising regulatory risks, the crypto market is also facing bearish catalysts related to potential conflict between Ukraine and Russia, shifting macroeconomic conditions, and disappointing guidance from some prominent, growth-dependent companies.
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Source Fool.com
