The cryptocurrency market experienced a broad sell-off, with nearly all major altcoins closing the day in the red. Altcoins underperformed Bitcoin, as traders took a more risk-off approach amid global market uncertainty.
Cardano (ADA) sees sharpest drop among top cryptocurrencies
Cardano (ADA) recorded the steepest intraday decline, dropping by 3.3%.
This sharp fall reflects increasing pressure on ADA, which has struggled to regain investor confidence. Despite ongoing development in the Cardano ecosystem, market momentum has been weak. The drop positions ADA as the worst-performing asset of the day among the major tracked tokens.
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DeFi tokens AAVE and AVAX fall behind
AAVE and Avalanche (AVAX) each dropped 2.8%, mirroring the downturn in the broader decentralized finance (DeFi) sector.
These losses point to weakening demand for DeFi tokens amid uncertain global monetary conditions.
While both networks have shown long-term potential, short-term sentiment remains bearish.
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Ethereum, Litecoin, and XRP register moderate declines
Ethereum (ETH), Litecoin (LTC), and XRP each recorded a 2.6% loss, indicating synchronized selling across large-cap altcoins.
ETH continues to show resilience in terms of user activity and staking, but price action remains under pressure.
These altcoins, while fundamental to the crypto space, are currently reacting more to macroeconomic cues than internal developments.
Bitcoin shows relative strength
Bitcoin (BTC) declined by just 1.3%, making it the most resilient digital asset in today’s trading.
Its lower volatility and deep liquidity continue to attract institutional support, especially during risk-off sessions.
Bitcoin Cash (BCH) also showed reduced losses, down just 1.4%.
Market Overview: Risk Aversion Drives Broad-Based Selling
The total crypto market sentiment remains cautious, with investors seeking safer assets as volatility rises.
Today’s performance highlights a common trend: when uncertainty rises, traders reduce exposure to altcoins and seek refuge in more established cryptocurrencies like Bitcoin.
Disclaimer
This content is for informational purposes only and does not constitute financial, investment, or legal advice. Cryptocurrency trading involves risk and may result in financial loss.