Opportunity or warning sign? Only 35% of Cardano holders in profit
Release: 2024/04/25 19:19 Reading: 616
Although the recent bull market in the cryptocurrency sector has brought on massive profits for investors in many crypto assets, Cardano (ADA) remains a mystery, with only 35% of its holders in the green – leaving traders to wonder whether this is an opportunity or a warning sign.
Specifically, Cardano stands out among several top Layer 1 networks, including Bitcoin (BTC), Tron (TRX), Dogecoin (DOGE), Ethereum (ETH), and Avalanche (AVAX), with just over a third of its holders in profit, according to the recent data shared by blockchain analytics platform IntoTheBlock on April 24.
src="/uploads/20240425/1714044966662a40261fc74.png">
Holders profitability on top Layer 1 networks. Source: IntoTheBlock
Indeed, as the blockchain platform’s analysts explained, “Bitcoin remains king,” with Tron “being a close second,” while Dogecoin and Ethereum “also have the vast majority of holders in profit,” which makes Cardano a curious exception to the recent trends and a profitability puzzle.
Cardano (ADA) price analysis
As it happens, Cardano is one of the ‘losers’ among assets in the crypto market this year, considering it has declined over 20% since the year’s turn, while the others on the above list have experienced gains – with the exception of Avalanche, which has declined 9.36% during this period.
Furthermore, it has experienced declines on its daily and monthly charts, dropping 6.42% in the last 24 hours and losing a more significant 32.01% across the previous 30 days, albeit accumulating a 3.32% gain over the past week, and currently changing hands at the price of $0.4637.
src="/uploads/20240425/1714044966662a40261fc74.png">
Cardano price 7-day chart. Source: Finbold
Meanwhile, such price action could represent an opportunity for investors seeking to grow their portfolios, as Cardano has earlier demonstrated a critically low Market Value to Realized Value (MVRV) ratio, which crypto expert Ali Matinez identified as a bullish signal for an “impressive rebound.”
src="/uploads/20240425/1714044966662a40261fc74.png">
Cardano MVRV ratio analysis. Source: Ali Martinez
All things considered, ADA could be in for further declines or is preparing to soar if the renowned crypto trading expert is correct. However, trends in the cryptocurrency industry can often change suddenly, so doing one’s own research and weighing all the risks is critical.
Disclaimer: The content on this site should not be considered investment advice. Investing is speculative. When investing, your capital is at risk.
Source: https://thebittimes.com/opportunity-or-warning-sign-only-35-of-cardano-holders-in-profit-tbt86525.html
Recent news
More>- 6 Best Cheap Crypto to Buy Now Under 1 Dollar November 25 – Arbitrum, Mina, Chiliz, Theta Fuel 11-26
- Pepe and Shiba Inu Face Strong Bearish Pressure: Is the Memecoin Market Losing Momentum? 11-26
- Meme coin prices dip; traders move to $40M Pepe Unchained ICO for massive potential gains 11-26
- Whale Moves 308B BONK Tokens to Coinbase Before Big Burn Event 11-26
- Why BTFD Coin, Pepe Coin, and Bonk Coin Are Top Meme Coins 11-26
- Missed the Pepe Coin Frenzy? This New Best Meme Coin is Here to Realise Your Dreams 11-26
- From Underdog to Top Dog: This Solana-Based Token Could Outperform Pepe by 100x This Year! 11-26
- Top 5 Crypto That Have Surpassed Their ATH In Recent Days! 11-26
- Best Wallet Soars Past $1M In Private Sale As Public Presale Starts Today For Web3 Wallet Built For 2024 Bull Run 11-26
Selected Topics
More>>-
- pepecoin Price Analysis
- This topic provides articles related to PepeCoin price, covering key PepeCoin insights and analysis
-
- pepe:meme star
- This topic provides articles related to the most promising meme, PEPECOIN, a project with the potential to become a mainstream digital currency. It has the advantages of decentralization, reliability, ease of use, fast speed, low cost and scalability, and is expected to be more widely used in the future
-
- pepecoin price prediction
- We’ve gathered facts about pepecoin’s success story and provided a pepecoin price prediction
Selected Articles
More>>- 1 Avalanche and Aptos rival raises over $600k in 2 weeks
- 2 Crypto Prices Today: Market Continues Rally With BTC, Pepe Coin, SEI Rising
- 3 Major Analyst Crypto Tony Bullish on These Meme Coins, But One Stands Out
- 4 MTAUR Ready to Crush DOGE and PEPE: 100x Price Growth Incoming?
- 5 Memecoins Surge in 2024, Popcat Leads with 7,621% YTD Gain, Outshining Top Crypto Tokens
- 6 PEPE Meme Coin Smashes ATH – See How Much an $83 Investment in Pepe Coin Last Year is Worth Now
- 7 Top 4 Altcoins At 70% Discounts – Last Chance!
- 8 Dogecoin Creator Proposes DOGE to NBA Legend Scottie Pippen
- 9 Top Analyst Who Predicted Dogecoin (DOGE) Last 170x Rally Forecasts New Parabolic Rise, Here’s His Price Target
- 10 New Solana Memecoin Trump Loves Elon to Rally 15,000% Before Exchange Listing, SHIB and Bonk Crash
ABOUT US
We are building the most influential，trusted information platform for aglobal community engaged in thd transformation of the financial system andthe emerging crypto economy.PEPE is an integrated platform for media,events,data & indices for the next generation fo investing and the future of money.
Get in touch with the PEPE team at admin@pepecoinbuy.com