Why Cryptocurrencies Like Ethereum, Cardano, Shiba Inu, and Cosmos Plunged Today

The weekend continues to be a rough time for cryptocurrency holders. The stock market closes on Saturday and Sunday, but digital assets trade 24 hours, 7 days a week and Saturday has repeatedly been a down day for the cryptocurrency market over the past month.

There were drops across the cryptocurrency industry today but a few were more notable than others. Ethereum (CRYPTO: ETH) continues its slide, falling 5.1% in the last 24 hours as of 4:20 p.m. ET. The value of Ethereum has fallen 17% in the past week and 31% over the past 30 days, hitting the dreaded $3,000 price in afternoon trading today before recovering slightly.

Cardano (CRYPTO: ADA) fell 5.5% over the last 24 hours, Shiba Inu (CRYPTO: SHIB) is down 5.9%, and Cosmos (CRYPTO: ATOM) is down 13.7%. These are all known as altcoins and are typically more volatile than their larger crypto rivals, but these are big drops no matter how you look at it.

Source Fool.com