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Tron Weekly

08/17/2023

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Cardano (ADA) 89% Of Holders Grapple With Losses, Yet DeFi Triumphs With 250% Surge

You are here: Home / News / Cardano (ADA) 89% of Holders Grapple with Losses, Yet DeFi Triumphs With 250% SurgeRecently, unveiled data by analytics firm IntoTheBlock has shed light on a concerning trend...

Cardano (ADA) 89% Of Holders Grapple With Losses, Yet DeFi Triumphs With 250% Surge

You are here: Home / News / Cardano (ADA) 89% of Holders Grapple with Losses, Yet DeFi Triumphs With 250% Surge

Cardano

Recently, unveiled data by analytics firm IntoTheBlock has shed light on a concerning trend within the Cardano (ADA) community, exposing that a substantial 89% majority of ADA holders find themselves entangled in losses.

The sobering statistics lay bare a stark reality, indicating that a whopping 3.95 million addresses, collectively possessing a significant 27.3 billion ADA – valued at approximately $7.9 billion based on current market rates – are submerged in the realm of losses.

Source: IntoTheblock

Cardano, which ranks third among cryptocurrencies in terms of market capitalization, boasting a staggering $1 billion valuation, finds itself divided between those grappling with losses and those reveling in gains. Amid the total market capitalization of $10.133 billion for Cardano, a mere $2.233 billion worth of ADA is enjoying the sweet taste of success.

A striking observation emerges from the analysis of those who invested in ADA tokens within the price range of $0.374 to $0.43 per token. This specific group claims the lion’s share of “loss-making” ADA, comprising an impressive 482,270 addresses collectively clutching a hefty 8.85 billion ADA tokens.

Cardano’s DeFi Ecosystem’s TVL Triples In 2023

Despite the underwhelming price movement of Cardano (ADA), there’s a silver lining. The Total Value Locked (TVL) within its native decentralized finance (DeFi) ecosystem has nearly tripled in 2023. A comprehensive on-chain analysis delves into how this TVL growth might impact future ADA price movements.

Starting the year strong, ADA peaked at $0.45 in mid-April. However, regulatory uncertainties from Q2 onwards triggered a downturn in its price trajectory. Presently hovering at $0.29, ADA has experienced a 36% decline from its 2023 peak recorded on April 17.

CoinMarketcap

Nevertheless, the Cardano DeFi ecosystem has taken a different trajectory. Despite recent regulatory challenges, its TVL has experienced substantial growth in the second half of 2023. As of August 15, the Cardano TVL stands at an impressive $177.83 million, showcasing a remarkable 250% growth throughout 2023.

Source: DeFillama

In this volatile landscape, Cardano holders grapple with losses while the DeFi ecosystem emerges as a beacon of resilience, potentially hinting at a more optimistic future for this cryptocurrency.

Related Reading | Ethereum’s Next Frontier: Volatility Shares Gears Up for Innovative ETF Launch

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Disclaimer: Cardano Feed is a Decentralized News Aggregator that enables journalists, influencers, editors, publishers, websites and community members to share news about the Cardano Ecosystem. User must always do their own research and none of those articles are financial advices. The content is for informational purposes only and does not necessarily reflect our opinion.


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