- Cardano’s native ADA token price sank to $0.82 after suffering further losses today.
- Binance USD has moved to ninth place in market capitalization, displacing Avalanche and Polkadot who have suffered heavy losses today-
Cryptocurrencies are trading in the red on Tuesday as the bloodbath continues due to rising tensions between Russia and Ukraine. Market data shows that only Terra’s LUNA has registered a green candle in the last few hours.
Bitcoin dipped below $36,500 today for the first time since Feb. 4, setting a multi-week low of $36,488 according to CoinMarketCap. Although the OG cryptocurrency has since risen steadily back to $37,600 at the time of writing, it is still down 2.85% in the last 24 hours. The current price of Bitcoin means that it has lost almost 14% in a week.
Ether has posted a bigger drop and is now down 15.12% in the last seven days. The second largest crypto asset fell to a February low of $2,510.68 according to market data, but managed to recover $2,600. Ether is currently marginally above this level, having lost 4.28% since yesterday.
XRP and ADA have been the most affected
Ripple’s XRP, which ranks sixth, and Cardano (ADA), which ranks sixth, have the largest red candles among the top 20 cryptocurrencies at the time of writing.
The two fell to intraday lows of $0.6788 and $0.82 as the pullback intensified. The former is down 10.15% in the last 24 hours, changing hands just above $0.70. ADA has risen to $0.87, with its current 24-hour change at a negative 7.67%.
Meme coins have suffered similar losses. Dogecoin is down 6.30% while Shiba Inu has posted a relatively larger loss of 7.90% in the last 24 hours. Polkadot, which has been overshadowed by Binance USD, has plunged 4.59% in the same period and is now trading at $16.24.
LUNA has not gone down as much as the rest
Meanwhile, LUNA de Terra is moving against the general bearish mood. The LUNA/USD trading chart at CoinMarketCap It shows that the token plunged alongside other altcoins to a 24-hour low of $48.59 before embarking on a recovery run.
The pair rose to $53 before briefly pulling back and shooting up to $54. The token corrected after failing to break above this level, but rallied back up, crossing $55. LUNA is, at time of writing, trading at $53.04, down 0.35% in the last 24 hours. Other altcoins like Solana (SOL), Polygon (MATIC), and Algorand (ALGO) have posted more than 5% losses in the same time period.