The value of Cardano (ADA) fell by almost 10% during the week. On the night of Monday, March 13, the rate of ADA fell to $0.307. The altcoin’s capitalization dropped to $10.654 billion.
Of the top ten digital currencies, Cardano suffered the most losses last week. Most ADA holders are now at a loss.
The share of addresses in the network, which are in the negative, reached 81%. That is, these investors bought Cardano when it was trading at prices higher than today, IntoTheBlock analysts noted.
Only 14% of ADA wallets remain profitable. Meanwhile, more than 40% of bitcoin, ether and Polygon holders are now in the black.
Cardano soared to $3.1 in 2021; in two years, its value has collapsed by more than 89%. The other digital currencies have lost about 70% from their all-time highs.
ADA is getting cheaper despite the strength in the NFT and DeFi markets. At the end of February, it became known that the NFT project Clay Nation, deployed on Cardano, entered into a partnership agreement with one of the largest meta-villages Sandbox with more than 210,000 users.
In the decentralized finance market, Cardano is on the list of blockchains with the largest number of protocols.
According to DeFiLlama, DeFi projects deployed on the ADA network have accumulated up to $103.92 million in digital assets.