- As of the date this article was written, ADA’s loss unrealized grew to 15.71 %.
- The Whales did not buy ADA dip.
Cardano [ADA] The network, which is a leading Layer-1 (L1) network, had the highest percentage of losses in holders among all the top networks. This led to concerns over its future demand.
ADA Under Water
According to a post on X by the firm On-Chain Analytics IntoTheBlock. Almost 35% ADA owners were profitable, compared to 86% for and 81% Bitcoin [BTC] You can also find out more about the following: Ethereum [ETH] respectively.
ADA is currently ranked as the 10th biggest cryptocurrency in terms of market capitalization. However, its price chart has not been very impressive lately. According to CoinMarketCap, the coin has dropped 28% in price over the past month and almost 22% year-to date (YTD). CoinMarketCap.
ADA’s poor performance has contributed to the market ranking slide. In the past month, coins like Dogecoin [DOGE] You can also find out more about the following: Toncoin [TON] Value is a key factor in determining the value of a property.
ADA has declined since mid-May. AMBCrypto noticed using Santiment’s data that due to the decline, the network’s unrealized average loss had increased to 157.11% by press time.
If ADA coin holders were to simply sell their coins, they would suffer a loss of 15,71% on average.
A second factor worth mentioning is the impact that the drop in price has had on ADA’s chain activity. Daily active addresses dropped to 30,000 from over 70,000 during the peak of prices.
Is it time to store up ADA?
While the prices of some coins are increasing, others have been declining. This may offer an opportunity to build up a collection.
Did investors buy ADA’s dip because it was a good deal?
Click Here to Read ADA’s Price Prediction 2024-25
AMBCrypto analyzed Santiment data and found that the whale cohort’s holdings had consistently decreased in the past 2-3 months. This suggests they have been net-selling their ADA coin.
If you are a bullish ADA holder you may find some comfort in ADA’s Super Cycle a year following the Bitcoin halving of 2020. If the past is repeated, ADA could challenge its current all-time (ATH) level in 2025.
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Source: ambcrypto.com