#coins #crypto #cryptocoin #cryptocoin.pk #cryptocurrency #Radix


  • Less than 10% of ADA holders were currently holding at a profit.
  • ADA has continued to decline as it trends below its short MA.

Cardano [ADA] consistently holds a prominent position with significant development activities. Nonetheless, the growth rate of ADA holdings has not paralleled the positive development activity.


– Is your portfolio green? Check out the Cardano Profit Calculator


Cardano holders at a loss inches closer to 90%

According to recent data from Into The Block, a significant portion of Cardano [ADA] holders were currently experiencing losses. The number of holders incurring losses far exceeded those who were making profits or had broken even.

Upon examining the data, it became apparent that the holders who acquired ADA at an average price of $0.39 faced the highest loss. This group, comprising about 482,000 addresses, collectively held approximately 8.9 billion ADA. 

Conversely, a larger number of addresses purchased ADA at an average price of $2.14, totaling around 690,000 addresses.

Source: IntoTheBlock

Furthermore, the chart revealed that nearly 4 million addresses were holding ADA at a loss. This number comprised approximately 89.7% of all holders as of this writing.

On the other hand, approximately 435,000 addresses were profitable, accounting for roughly 9.81% of the total addresses. A smaller subset of around 27,000 addresses, representing less than 1% of the total, have managed to break even.

Cardano active addresses flash downward signals

The Cardano seven-day active addresses revealed a consistent number decrease over the past few days. By analyzing the chart, it became evident that July had around 300,000 active addresses.

However, a clear decline has since become apparent. As of this writing, the count of active addresses dwindled to approximately 175,000. This decline signified a reduction in the number of addresses engaging in activity on the blockchain.

Cardano active addresses

Source: Santiment

Analyzing the trend of ADA

Cardano [ADA] was experiencing a daily trading situation characterized by a loss as of this writing. The trading price of ADA was approximately $0.27, reflecting a decrease of over 1%.

A glance at the chart showed that ADA had incurred a more significant loss in the prior trading session, amounting to 2.9%. Considering the number of addresses currently facing losses, ADA would need to trade above $0.4 for these addresses to transition into profitable territory.

ADA/USD price trend

Source: TradingView


– How much are 1,10,100 ADA worth today


However, the current trend of ADA was tracking below its short Moving Average (yellow line). This particular trend indication pointed to a less favorable price trajectory.

 



Source link

Leave a Reply

Your email address will not be published. Required fields are marked *

WP Twitter Auto Publish Powered By : XYZScripts.com