Cardano (ADA) is one of the worst performers among the top 20 cryptocurrencies by market cap, down by 5% in the last 24 hours. The cryptocurrency remained under pressure on Wednesday, slipping below $0.175 and extending its losing streak to four consecutive sessions. Mounting selling activity from large holders, weakening derivatives sentiment, and a fragile technical structure suggest the cryptocurrency could remain vulnerable to additional losses in the near term. The latest decline comes as investors continue to reduce exposure despite broader signs of stabilization across parts of the cryptocurrency market. Whales sell nearly 190 million ADA tokens On-chain data indicates that major Cardano investors have resumed distributing their holdings after last week’s brief recovery.
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