Majority of Cardano (ADA) holders experience floating losses
On March 6, according to the data of IntoTheBlock, about 3.53 million Cardano (ADA) current-holding addresses are in floating loss status, accounting for about…
On March 6, according to the data of IntoTheBlock, about 3.53 million Cardano (ADA) current-holding addresses are in floating loss status, accounting for about 80% of the total number of current-holding addresses; The number of profitable addresses is only 682920, less than 16% of the total number of coin holding addresses; The remaining 173770 coin holding addresses are at the cost level, accounting for about 4% of the total number of coin holding addresses.
Data: About 80% of ADA coin holding addresses are in floating loss state
Interpretation of the news:
The latest data from IntoTheBlock reveals that the vast majority of Cardano (ADA) holders are currently experiencing floating losses. As of March 6, around 3.53 million ADA current-holding addresses are in the red, accounting for approximately 80% of the total number of current-holding addresses. In contrast, only 682,920 addresses are profitable, making up less than 16% of the total number of coin-holding addresses.
This data paints a troubling picture for current ADA holders, many of whom may have invested in the cryptocurrency at its peak value. Despite being one of the most promising coins on the market, Cardano has struggled to maintain its value in recent weeks, dropping from a high of $1.48 on February 25 to around $1.01 as of March 10.
There are a number of potential factors behind this drop in value. One possible explanation is the overall market downturn that has affected many other cryptocurrencies in recent weeks. Similarly, concerns regarding the sustainability of the current bull run may have caused some investors to pull back on their investments.
However, regardless of the cause, the fact remains that the majority of Cardano holders are currently experiencing losses. This is particularly concerning given that ADA is often touted as a long-term investment opportunity. Many investors may have been hoping to hold onto their coins for years to come, expecting the value to continue to rise over time.
Of course, it’s worth noting that not all ADA holders are currently in the red. Some may have purchased the coin at a lower value, and are currently sitting on profits. Similarly, there may be investors who are holding onto their coins despite the current downturn, believing that the value will eventually recover.
Nevertheless, the current data suggests that Cardano is experiencing a significant downturn, and many investors are currently feeling the effects. It remains to be seen how long this trend will continue, but it’s clear that the cryptocurrency market remains as volatile as ever.
In summary, the data reveals that a significant proportion of Cardano holders are currently experiencing floating losses, with less than 16% of current-holding addresses being profitable. This suggests that the cryptocurrency is struggling to maintain its value in the current market, and many investors are feeling the effects of this downturn.
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