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A new report by IntoTheBlock has revealed that a significant majority of Cardano (ADA) holders are currently experiencing losses. According to the data analytics firm, at least 80% of all ADA holders are "out of the money," meaning they are holding the token at a loss. This equates to a total of 3.44 million addresses, holding a combined total of 26.85 billion ADA, equivalent to $9.48 billion at current prices.
Cardano is currently in ninth place among cryptocurrencies with a market capitalization of more than $1 billion in terms of the ratio of losing addresses to profitable ones. With a total market capitalization of $12.47 billion, only $1.66 billion worth of ADA are in profit.
Denys SerhiichukInterestingly, those who bought a Cardano token between $0.374 and $0.456 per token hold most of the "loss-making" ADA. There are currently 743,560 such addresses, and they hold 13 billion ADA.
It is interesting because Cardano token was trading at such prices at the beginning of April, at the same time its local peak was reached. That is to say, investors bought a bunch of ADA, inspired by that price action, and literally the very next week they were locked in with losses, which have been growing in the next four weeks, including the current one.
Yuri Molchan
Vladislav Sopov
Dan Burgin
Alex Dovbnya