Cardano (ADA) Coin Holders in Floating Loss Status
On March 6, according to the data of IntoTheBlock, about 3.53 million Cardano (ADA) current-holding addresses are in floating loss status, accounting for about…
On March 6, according to the data of IntoTheBlock, about 3.53 million Cardano (ADA) current-holding addresses are in floating loss status, accounting for about 80% of the total number of current-holding addresses; The number of profitable addresses is only 682920, less than 16% of the total number of coin holding addresses; The remaining 173770 coin holding addresses are at the cost level, accounting for about 4% of the total number of coin holding addresses.
Data: About 80% of ADA coin holding addresses are in floating loss state
Interpretation of the news:
The recent data of IntoTheBlock suggests that the majority of Cardano (ADA) coin holders are currently in a state of floating loss. This underscores that a significant number of investors invested in ADA at a higher price than the current market price, which is why they are unable to make a profit on their investment. The data reveals that roughly 3.53 million ADA current-holding addresses are at a floating loss, representing around 80% of the total number of current-holding addresses.
It has become a trend in the world of cryptocurrencies to hold onto investments for a longer period of time to (hopefully) gain a good return on investment. However, this was not the case with ADA as the majority of investors decided to hold onto their coins during a significant market downturn, resulting in more than 80% of them being in floating loss status.
On the other hand, only 682,920 coin address holders are currently making a profit. This means that less than 16% of the total number of coin holding addresses are enjoying a profit. The remaining coin holders, approximately 173,770 in number, are neither in profit nor in loss as they have managed to hold on to their coins at the cost level. This accounts for about 4% of the total number of coin holding addresses.
Investors could interpret this data in different ways. Some may choose to hold onto their ADA coins and wait for the market to bounce back so that they can make a profit. Others may decide to cut their losses and sell their holdings, especially if they don’t have a lot of liquidity in hand. It is possible that those who have suffered from investment losses may look for investment opportunities elsewhere, or they may decide to wait for a more opportune time to invest in ADA again.
In conclusion, the data reveals that the majority of Cardano (ADA) coin holders are currently in a floating loss status. This calls for a renewed focus on market analysis and research before investing, rather than just following the trend. Additionally, some investors may need to review their investment strategies, as waiting for the market to recover may not always be the best option, especially when losses are significant.
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