The cryptocurrency market experienced a significant downturn, with Cardano’s native token (ADA) suffering a staggering 65% decline in value over the past few hours. The asset had reached around $0.85 yesterday before rapidly plummeting to under $0.30 on exchanges like Binance, marking its lowest price point since August 2024. The sell-off was also mirrored on other exchanges: Bitfinex saw a drop to $0.30, Kraken went down to $0.42, while more moderate declines were observed on Bitstamp and Coinbase. 65% of ADA’s value has been wiped out. 8/19. 2024 📈 While the market crash was attributed to a recent surge in selling pressure triggered by US President Donald Trump’s announcement of new tariffs on China, a concerning trend is the sell-off being driven by large institutional investors known as whales. According to data shared by Ali Martinez, they have unloaded approximately 40 million ADA tokens over the past week. This further fueled selling pressure and serves as a potential warning for smaller investors. A notable example of a significant market crash in recent years was the 3AC collapse in June 2022, which saw Ethereum plunge by 32%. The event highlights the volatile nature of the crypto market and underscores the significance of navigating risks effectively.