The broader altcoin market has faced intense bearish pressure amid geopolitical uncertainty, with the current selloff proving more severe than the drawdowns major-cap cryptocurrencies experienced during the FTX collapse in 2022. Historically, altcoins have amplified Bitcoin's directional moves during downturns — thinner order books and higher retail participation tend to magnify losses — and this cycle has been no exception, with the breadth of the decline now exceeding the worst stretches of the previous bear market.

Nearly 4 in 10 Altcoins Near All-Time Lows

According to Coin Bureau, 38.8% of all altcoins are now trading near all-time lows — meaning roughly 4 out of 10 altcoins qualify as having "bottomed." Data compiled by Whitelist Media indicates that Cardano (ADA) has been among the hardest hit, declining as much as 90% from its peak price levels.

🚨 38% OF ALTCOINS ARE NEAR ALL-TIME LOWS, WORSE THAN FTX COLLAPSE! Nearly 4 out of 10 altcoins are trading near their ALL-TIME LOW — that's worse than when FTX collapsed. This is the BIGGEST ALTCOIN WIPEOUT of this cycle. pic.twitter.com/w7B6sNY48y — Coin Bureau (@coinbureau) March 3, 2026

By comparison, Bitcoin (BTC) has held up relatively well despite falling from its $129,000 all-time high recorded last summer. Ethereum (ETH) has shown similar resilience, although the top altcoin did trade below its $1,500 support cluster for a period during the current cycle. The divergence underscores a broader trend this cycle: institutional inflows concentrated in BTC and ETH via spot ETF products have provided a relative cushion for those assets, while most altcoins — including ADA — lack comparable institutional vehicles, leaving them more exposed to sentiment-driven selling.

ADA Caught Between Support and Resistance

Cardano's recent move toward the $0.20 level stands out in an otherwise choppy and sloppy altcoin market, falling well short of the alt-season expectations that some crypto analysts have pointed to. Whether this underperformance reverses will depend heavily on Cardano's institutional trajectory.

📉 TOP CRYPTO DRAWDOWN FROM ATH Market memory is short. The charts aren't. $BTC −46.4% $ETH −59.2% $XRP −61.4% $BNB −54.0% $SOL −70.0% $TRX −34.6% $DOGE −86.9% $ADA −90.7% $LINK −82.8% $HYPE −47.4% The stables feel best 🩸 Biggest nukes: $ADA −90.7% $DOGE −86.9%… pic.twitter.com/tJH41I5NdK — Whitelist Media (@Whitelist1Media) March 1, 2026

The market decoupling could be read as a positive sign. If Cardano's 90% reversal is indeed underway, long-term bulls would likely step in to defend the $0.16 support level. The sustainability of any such reversal depends on long-term conviction in Cardano's future prospects.

Cardano Recognized for Decentralization

Recently, Chainspect awarded Cardano a high Nakamoto Coefficient, a metric that measures the decentralization of a blockchain network. The higher the number of entities required to collude in order to compromise a chain, the more decentralized the network is considered. Cardano is now cited as among the safest networks in terms of centralization risk — a distinction that has gained relevance as institutional evaluators and developers increasingly weigh decentralization alongside throughput and security when assessing blockchain settlement layers.

Cardano just set a new decentralization record! — Rick McCracken DIGI 🇺🇸 (@RickMcCracken) August 5, 2026

On the trading front, ADA's spot market volume reached $210,753,143 on Monday. The more notable activity, however, was in the futures markets, where volume surged 41% from the previous day to $367.37 million, according to CoinGlass data. Elevated futures activity during sharp price declines typically reflects a mix of hedging, new short positioning, and liquidation cascades — dynamics that can amplify volatility in both directions.

The $0.20 level is widely viewed as a make-or-break threshold that could shape near-term market sentiment and potentially set the stage for a reversal of the 90% drawdown from all-time highs.