Journalist
- As of the date this article was written, ADA’s loss unrealized grew to 15.71 %.
- The whales didn’t buy ADA’s 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
A recent X blog post from on-chain analysis firm TheBlock. Approximately 35% of ADA holders made a profit, compared with 86% and 80% for 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] In valuation.
ADA reached a peak yearly of $0.77 in mid-May, but since then has been trending lower. AMBCrypto, using Santiment data, noticed that the slump had caused the average unrealized network loss to increase to 15.71 % at press-time.
If ADA coin holders were to simply sell their coins, they would suffer a loss of 15,71% on average.
Santiment
The impact of the decline in prices on ADA’s activity within its chain was also noteworthy. Daily active addresses dropped to 30,000 from over 70,000 during the peak of prices.
Is it time to store up ADA?
In contrast, if you are looking to accumulate coins, the low prices and profitability of other coins may be an opportunity.
Investors were interested in ADA’s dip, but did they really buy it?
You can read more about it here ADA Price Prediction 2024-25
AMBCrypto’s analyses of Santiment data show that the whale cohorts’ holdings consistently decreased in the past 2-3 months. This suggests they are 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. ADA could challenge the all-time (ATH) level in 2025 if history repeats itself.
Santiment