Cardano’s poor performance (ADA) puts more than 80% of its owners at a loss!
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Answer Cardano’s poor performance (ADA) puts more than 80% of its owners at a loss!
Lately, Cardano (ADA) has not moved in the direction many investors would like.
Investors have seen the value of the digital currency Cardano plummet, trading at less than $1 for most of the year.
ADA, which peaked at an all-time high of $3.09 last year, has since fallen by 68.5%, as it is currently struggling to climb $1.
The underperformance of the cryptocurrency has led to heavy losses for investors, with many enthusiasts left with no choice but to hold the coin in the hope that its price will rise, as the project slowly progresses to be the perfect network for developers.
Read:The co-founder of the Ethereum network is preparing to launch his new project with a valuation of 1.2 billion dollars
Investors in ADA:
According to data on cryptocurrency analysis platform IntoTheBlock, 82% of addresses holding ADA cryptocurrency are in a loss mode.
Just a week ago, 67% of ADA titles were in Loss Mode.
After the crypto market crash, the price of the cryptocurrency, which was around $1.1, fell to $0.92, putting more ADA holders in a losing position.
With the market currently stabilizing, the value of the cryptocurrency has gone from $0.92 to $0.97, but the percentage of addresses with ADA at a loss is still increasing, currently at 82%.
Currently, only 14% of ADA titles are in profit, and these are the traders who bought the coin last month when its price fell below $0.80 in the middle of last month.
ADA holders are unfazed and show their faith in the project:
It is worth noting that the majority of ADA holders, representing 77%, have held the cryptocurrency for between one and 12 months, while 12% of all addresses have been held for more than a year.
Similarly, another 12% held the ADA cryptocurrency for less than a month.
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It seems that the majority of cardano holders are confident that the price will continue to rise regardless of the current performance of the currency.
Investors are encouraged that the Cardano Network will soon attract more decentralized applications (dApps) to launch on the blockchain once the Vasil upgrade goes live by June 2022.
With more dApps on Cardano, the utility of ADA will expand, giving a huge boost to the cryptocurrency.
At the time of writing these lines, the ADA cryptocurrency is trading at $0.957, up 1.9% in the last 24 hours.
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