Only 35% Of ADA Holders In Profit, Suggests Buying Opportunity
Cardano (ADA) has a low percentage of profitable wallets, compared to other major cryptocurrencies like Bitcoin and Tron.
This is due to the constantly changing sentiment and market conditions. Over 86% of Bitcoin holders and 85% of Tron investors enjoy profits, while Dogecoin and Ethereum have higher percentages. Cardano’s low percentage of profitable wallets raises concerns among market analysts and investors.
The analysis suggests a potential undervaluation of ADA, as 61.3% of its holders are out of the money, indicating a reluctance to sell at a loss.
Cardano’s price peaked in the second half of 2021 and started reversing when over 92% of holders were in the money.
Unprofitable investors may lose interest or hesitate to increase their holdings, fearing continued losses. If Cardano’s price approaches the break-even point, many holders might cash out.
(With inputs from Shikha Singh)
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