Why Cardano's Cryptocurrency Is Plummeting This Week

The cryptocurrency market is getting hit with another week of big sell-offs, and Cardano's (CRYPTO: ADA) ADA token has been caught up in the negative market momentum. The cryptocurrency was down 11.2% over the last week of trading as of 4 p.m. ET on Friday, according to data from S&P Global Market Intelligence. Only a handful of the top-50 largest cryptocurrencies managed to end the last week of trading in the green, and most were down double digits across the stretch.