Cardano's price has taken a significant hit in recent days, with the value of ADA plummeting by nearly 30%. This downturn has seen the cryptocurrency slide towards $0.16, a level not witnessed since almost four years ago.
The impact of this sell-off is evident as Cardano has been knocked out of the top 15 crypto rankings. Analysts are attributing this sharp decline to macro rate-hike fears and a key contributor filing for Chapter 7 bankruptcy.