Only 35% of Cardano (ADA) Holders Are in Profit: Data

Cardano (ADA) has been one of the top-performing crypto assets in the market and has notched over 25% in monthly gains. The bullish momentum has, so far, failed to retain ground as more than half of all ADA holders are still reeling under unrealized losses as the eighth-largest crypto by market cap struggles near $0.38.

According to IntoTheBlock’s latest data, only 35.71% of ADA holders are in profit, a figure notably lower than other leading protocols.

  • The blockchain intelligence platform’s insights highlighted a critical resistance point at $0.38, where 7.19 billion ADA has been accumulated.
  • Clearing this level could alleviate resistance for the crypto asset, paving the way for increased holder profits.
  • This development coincides with a shift in Cardano’s momentum to bearish, coupled with low trading volumes.
  • While total addresses with ADA have surged consistently to 4.4 million, the same cannot be said for active addresses, which have stayed below $50k despite a minor spike.
  • But experts suggest a minimal resistance ahead for Cardano. Popular crypto analyst Ali Martinez had previously said that ADA is currently situated within a vital demand range, spanning from $0.37 to $0.38.
  • This critical zone, supported by data revealing 166,470 wallets accumulating a significant 4.88 billion ADA, has instilled confidence among traders.

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#Cardano #ADA #Holders #Profit #Data

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