Cardano Holders in the Red, Bitcoin and Tron are Up

Data from the analytics platform IntoTheBlock highlights the cryptocurrencies with the most profitable holders. TRON (TRX) is the second largest currency, with 85% of holders in profit, only behind Bitcoin (BTC) with 86%.

Ethereum (ETH), despite being the second-largest cryptocurrency by market capitalization, is the fourth-largest coin in the ranking, with 81% of holders in profit. It’s only surpassed by the one and only Dogecoin (DOGE), the first meme cryptocurrency, boasting 83%.

However, the same cannot be said for other currencies that used to be in the top ten by market capitalization. At least 60% of Avalanche (AVAX) holders remain in profit. The currency has experienced downward pressure for some time now —data from CoinMarketCap shows a more than 30% monthly decrease.

The chart below shows the percentage of holders in profit on several top layer 1 networks 👇

Bitcoin remains king, with $TRX being a close second. $DOGE and $ETH also have the vast majority of holders in profit. $ADA stands out with only 35% of holders in profit. But is this… pic.twitter.com/x9YwfuNIN4

— IntoTheBlock (@intotheblock) April 24, 2024

Cardano (ADA) holders are in red as only 35% of ADA holders are in profit. In April, ADA was kicked out of its spot as the ninth-largest currency by Toncoin (TON), the Telegram-related coin that gained tremendous traction in the market in the first quarter of 2024.

As CryptoMode reported, over half of Cardano addresses, around 2.5 million, have sustained significant losses.