• Cardano [ADA] holders are facing a significant loss, nearing 90%.
• Active addresses on the blockchain have been decreasing in recent days.
• ADA is trending below its short MA, raising concerns among investors.
Cardano Surrenders to Bears
Cardano’s [ADA] development progress stands in stark contrast to the losses faced by its holders, which are nearing 90%. The number of active addresses on the blockchain has declined in recent days while ADA’s price trend raises concerns.
Losses at Almost 90%
Data from IntoTheBlock revealed that a majority of Cardano [ADA] holders are currently experiencing losses. Holders who had purchased ADA at an average price of $0.39 face the highest loss and numbered around 482,000 addresses with 8.9 billion ADA collectively held. A larger number of addresses purchased ADA at an average price of $2.14 with 690,000 total addresses holding it currently. Around 4 million addresses were found to be holding at a loss and accounting for 89.7% of all holders as of this writing; 435,000 were profitable (9.81%) and 27,000 had broken even (less than 1%).
Active Addresses Declining
The seven-day active address chart for Cardano showed a consistent decrease over the past few days – from 300,000 active addresses in July down to approximately 175,000 as of this writing – signifying fewer people engaging in activity on the blockchain network. This could be seen as a negative indicator for the cryptocurrency’s future performance as well as a reduced amount of liquidity available in exchanges based on trading volume related to these activities.
ADA Price Trending Below Short MA
The trading price of ADA was approximately $0.27 reflecting a 24-hour loss of 2%, indicating bearish sentiment towards Cardano amidst growing investor uncertainty and concern about its long-term prospects due to its current downtrend below its short MA (Moving Average). This has caused some investors to liquidate their positions or hold off buying more until prices recover and/or stabilize above this important technical indicator line before making any additional investments into it again for now anyway until further developments arise that may change this outlook either positively or negatively going forward however so stay tuned!
Will Holders Weather The Storm?
Despite losses reported by many holders and negative indicators regarding price trends, Cardano remains one of the leading cryptocurrencies with promising development activities underway that could potentially provide better returns for investors if things turn around soon enough – only time will tell us whether or not that will be case but keep your heads up everyone!