Just when investors thought that a recovery might be on the cards following a slight resurgence at the end of last week and the start of this week, we see the crypto market slump yet again on Wednesday to varying degrees among different coins. ETH is down the least; however, most altcoins have declined more than 5% over the past 24 hours. Let’s take a look at the biggest percentage changes that occurred on Wednesday.

ETH: $2,699.35 (-2.4% over the past 24 hours)

ETH, though down more than 2% on the day, is the coin that declined the least in terms of percentages on Wednesday, still holding on to the $2,700 price level for dear life. It appears that ETH is continuing to try to climb back up to the $3,000 price mark, as it is up more than 10% over the past 7 days, a result of the bounce back after the brutal start to last week.

LUNA: $48.12 (-8.47% over the past 24 hours)

The biggest loser on Wednesday is yet again LUNA, which we covered last time on the weekly recap. Its price is still affected by the controversy surrounding the Abracadabra protocol and Magic Internet Money (MIM), which suffered drainage of funds due to links to Wonderland, a potential crypto scandal that had a known scammer being involved as CFO of the crypto project.

ADA: $1.03 (-5.95% over the past 24 hours)

Another massively underperforming coin that declined a large percentage on Wednesday is ADA, which is struggling to even hold on to the $1 price level, after peaking at over $3 in September 2021. It has now lost around 2/3 of its market capitalization since its all-time high in September, which is the largest loss among the top 10 cryptocurrencies in terms of market cap. It remains to be seen whether the upside of ADA and the introduction of smart contracts, and the development of dApps along with it, can help ADA recover its former glory.

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