Why Is Cardano Price Down Today?

Cardano’s price has been on a downward trend for the fourth consecutive week.

The decline is attributed to fears of a potential rate hike by the Federal Reserve, which could lead to a decrease in demand for cryptocurrencies.

The SEC’s crackdown on unregistered securities offerings and fraudulent ICOs has also contributed to the decline in Cardano’s price.

Additionally, the recovering U.S. dollar has made cryptocurrencies less attractive to investors, leading to a decrease in demand and prices.

In summary, Cardano’s price decline is a result of multiple factors, including rate hike fears, SEC crackdown, and a recovering U.S. dollar. These factors have led to a decrease in demand for cryptocurrencies and a subsequent decline in prices.