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The price of %Cardano (CRYPTO: $ADA ) declined 11% on June 18 as sentiment towards %Cryptocurrencies turns increasingly bearish.

Cardano is currently trading at $0.39 U.S. per token, having bounced off a bottom of $0.37 U.S. in overnight trading.

The 11% decline on June 18 was the biggest one-day percentage loss for Cardano since April 13 of this year, which is when the %Bitcoin (CRYPTO: $BTC ) halving event occurred.

Over the last week, Cardano’s price has decreased by nearly 15%, lowering its market capitalization to $13.86 billion U.S.

At its peak in September 2021, Cardano's price stood at $3.10 U.S. per token and its market cap was $94 billion U.S.

The latest drop in Cardano’s price comes as sentiment turns increasingly negative across the cryptocurrency sector.

Bitcoin’s price is at $65,000 U.S., down from more than $70,000 U.S. at the start of June. Some analysts are forecasting that the price could fall as low as $60,000 U.S.

At the same time, %Ethereum (CRYPTO: $ETH ) has declined 5% over the past 24 hours to trade at $3,545 U.S.

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