Cardano (ADA) Plummets 11% Daily Below $0.2, Charles Hoskinson is Taking a Break

Cardano’s native cryptocurrency wasn’t spared today as the broader cryptocurrency market sees a wave of red. The altcoin crashed by about 11% in the past 24 hours, tumbling before the pivotal level of $0.20.

This follows a wave of declines throughout the past 24 hours, where the total market saw close to $2 billion worth of liquidated positions and billions removed from the market capitalization.

Source: TradingView

This also takes place as Charles Hoskinson, the person behind Cardano, suddenly announced that he’s “taking a break.”

There is no further context – we don’t know if this is just a vacation or if Hoskinson is stepping away from Cardano and the industry as a whole. That said, it doesn’t seem like ADA’s price action is that much influenced by the tweet – more so by the broader market decline.

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