Cardano (CRYPTO: ADA) is down 7.2% in the last 24 hours as of 7:43 p.m. ET on Monday. The drop comes as the S 500 fell 0.6% and the Nasdaq Composite slid 0.4%.

Cardano is following Bitcoin and the rest of the crypto market as sentiment hovers around all-time lows. Comments made today by Bank of Japan (BOJ) Governor Kazuo Ueda did little to calm nervous investors.

The Federal Reserve may soon choose to cut U.S. interest rates once more, but Japan's central bank looks like it may make the opposite choice. Ueda said that the BOJ is looking at the possibility of a rate hike, stating that the bank is evaluating the "pros and cons" of such a move.

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Source Fool.com