The rally from last week could not sustain, as the market suffered a sharp decline since the start of this week. Wednesday was no different, as BTC and ETH are both down around 1%, while several altcoins are down 5% or more, including ADA, which failed to capitalize on its momentum gained from launching its first decentralized exchange (DEX) on the Cardano network. Let’s take a look at the biggest slips the crypto coins have had today.

ADA: $1.32 (-12.75% over the past 24 hours)

ADA’s momentum from launching its first DEX, Sundae Swap, as reported yesterday on BTCC Blog, has been firmly shut close, as it dropped nearly 13% over the past 24 hours. According to CoinTelegraph’s technical analysis, ADA “rallied to the resistance line of the descending channel on Jan. 18 but the bulls could not push the price above the channel. This suggests that bears are defending the resistance line aggressively.” There is still strong price support for ADA at its moving average, but it remains to be seen whether the support could help ADA push past the price resistance.

LINK: $21.5 (-6.83% over the past 24 hours)

LINK is another coin that has been down chunks over the 10 days, dropping from around $28 on Jan. 11 to $21.5 today, marking a 20%+ decline. LINK is a coin that the crypto community is quite bullish on, as it allows decentralized applications (dApps) to communicate not only to each other but on an off-chain scale. It is also by far the biggest data oracle, which in this age of “Data is King,” serving as the main data provider/transmitter across on-chain and off-chain channels is crucial for the long-term growth of Chainlink. Thus, even though LINK has been suffering short-term volatility, it is still worth a long-term investment in the eyes of bullish investors, who see LINK as an extremely undervalued project at $21.5.

MANA: $2.71 (-5.41% over the past 24 hours)

MANA, one of the most volatile coins currently tradable on BTCC.com, is down more than 5% on the day. However, investors could normally expect even bigger swings for MANA on any day, as it could easily go through 20%+ rallies or sell-offs in a 24-hour window. As MANA is the only coin focused on the development of the metaverse, investors who would like to get price exposure from the growth of the metaverse trend should still strongly consider MANA as a place to start, as more and more traditional corporations move in to capitalize on the seemingly limitless opportunities available in the virtual realm.

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