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Cardano Plummets 23% Amid SEC Lawsuit and Altcoin Market Downturn

Cardano has suffered a significant decline in value over the past few days, with a 23% drop in the last 24 hours. This has led to the liquidation of nearly $400 million worth of altcoins. The SEC's lawsuit against Coinbase, which includes allegations that some altcoins are securities, has caused concern among investors, with Cardano being one of the affected cryptocurrencies. Despite this, Cardano's Input Output Global has released a statement denying that ADA is a security.

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