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Here's Who's Making Money on Cardano (ADA) Right Now: IntoTheBlock

Thu, 02/23/2023 - 16:07
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Gamza Khanzadaev
Cardano (ADA) price action puts holders out of profit, but here's who's making most money right now
Here's Who's Making Money on Cardano (ADA) Right Now: IntoTheBlock
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According to IntoTheBlock, only 23% of all Cardano (ADA) token holders are currently in profit, regardless of the fact that the token has added more than 57% to its price since the beginning of the year. Despite the relatively dismal figures, by comparison, 69% of Bitcoin holders are in profit. There are those who are profitable in ADA right now, and here's why.

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In fact, there is no secret, and it is clear that those who purchased a Cardano token at a lower price than the current one are in profit. The other issue is that there are only one million such addresses, and they are divided into two subcategories.

Perfect timing for Cardano (ADA) purchases

The first sub-category includes those Cardano investors who bought ADA when the token was still worth $0.000006. There are currently 428,790 such addresses, and they hold 4.3 billion ADA. There are also those who got the token for free, but it is only 16,130 addresses with a cumulative balance of 135.31 million ADA.

The second largest category of profitable Cardano investors includes those who bought the token starting at $0.3084 to $0.375 per ADA. There are 567,750 such addresses, holding 8.57 billion ADA. What is interesting is that half of those holdings involve 52,560 addresses that bought the token at $0.36 per ADA.

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The biggest pain so far, on the other hand, has been experienced by the nearly 700,000 addresses that have bought a combined 2.18 billion ADA at prices ranging from $1.71 to $2.97 per token.

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About the author

Financial analyst, trader and crypto enthusiast.

Gamza graduated with a degree in finance and credit with a specialization in securities and financial derivatives. He then also completed a master's program in banking and asset management.

He wants to have a hand in covering economic and fintech topics, as well as educate more people about cryptocurrencies and blockchain.