Cardano is currently down 45.6% from its yearly high of $0.4518 and is not showing any signs of stopping. Further evidence of the status of the cryptocurrency’s pricing is provided by data indicating that the majority of Cardano holders are losing money at the present price.
With over 94% of Cardano (ADA) addresses in loss right now, many investors are unsure if it’s time to stop losing money and move on.
Cardano (ADA) Handles A 94% Increase in Loss
With a market valuation of $8.65 billion, Cardano (ADA) is now the eighth-largest cryptocurrency by market value. All indicators, meanwhile, indicate that the cryptocurrency is losing money and finding it difficult to attract new investors.
Cardano (ADA) Wallets in Loss Surge by 94%: Time to Exit?,Cardano (ADA) Wallets in Loss Surge by 94%: Time to Exit?
For example, throughout the course of seven days, ADA decreased by 7.%. In the last day, its trading volume has decreased by 12.67%, indicating a lack of interest in purchasing or disposing of the cryptocurrency.
Based on IntoTheBlock’s In/Out of the Money statistic data, 94.15% of Cardano addresses are now shown in red. There are currently more than 4.19 million Cardano addresses that are losing money, according to the measure that displays the number of addresses that are profitable and losing money at a cryptocurrency’s current price.
When ADA was at its highest point, a lot of investors got in close to the peak hype. Six91,480 addresses purchased between $1.59 and $2.97, and 608,590 addresses purchased between $1.17 and $1.59, out of the 4.19 million addresses that were lost. Nevertheless, just 174,840 Cardano addresses—or 3.92% of all addresses—are now profitable.
On Cardano’s blockchain, there haven’t been any whale transactions in the last day. An additional IntoTheBlock measure indicates that since May, there has been a sharp decline in the quantity of transactions valued at $100,000 or more.
When Should You Jump Ship?
Considering the popularity of the Cardano blockchain, it is perhaps surprise that ADA holders are not making much money. Recent data from blockchain analytics company Santiment indicates that developers continue to choose the Cardano network above all others.
Additionally, Cardano engineers have been hard at work creating and adding innovative features to the ecosystem and blockchain. The improvements for its Lace wallet are one instance of these advances.
Cardano (ADA) Wallets in Loss Surge by 94%: Time to Exit?,Cardano (ADA) Wallets in Loss Surge by 94%: Time to Exit?,Cardano (ADA) Wallets in Loss Surge by 94%: Time to Exit?