If you are hodling Cardano, SUSHI or UNI, you are most likely in loss
The post If you are hodling Cardano, SUSHI or UNI, you are most likely in loss appeared on BitcoinEthereumNews.com. There is no denying the fact that the crypto industry is currently bleeding as the market cap of the industry...
There is no denying the fact that the crypto industry is currently bleeding as the market cap of the industry which recently touched a high of over $3 trillion is now barely above the $2 trillion mark.
This has had a ripple effect on the market and addresses holding a number of certain digital assets appear to be the most affected.
Cardano, Sushiswap and Uniswap holders are in red
According to data from IntoTheBlock, over 70% of addresses holding Cardano are currently at a loss. Other notable crypto assets whose holders are at a loss include Sushiswap with over 80% and Uniswap at 71%.
For any address with a balance of tokens, ITB identifies the average price (cost) at which those tokens were purchased and compares it current price.
Addresses at profit:$BTC 78%$ETH 86%$DOGE 55%$SHIBA 56%$MATIC 83%$ALGO 77%
Addresses at loss:$ADA 73%$SUSHI 84%$UNI 71% pic.twitter.com/X3oDsA7GDn
— IntoTheBlock (@intotheblock) December 13, 2021
You’ll recall that we reported that Cardano’s price had dropped rapidly after the digital asset had reached a peak of $3.10 in early September. Since then, the asset has lost over 50% of its value and also its position as top 5 crypto asset by market cap.
Available data on CryptoSlate shows that ADA has lost over 5% within the last 24 hours and over 15% within the last 7 days.
For Sushi and Uni, the native tokens of two leading decentralized exchanges, their values have plummeted rapidly since reaching a new ATH earlier in the year. Sushi, for instance, has lost 75% of its ATH while UNI has lost almost 68% of its ATH.
BTC, Ether, Doge and Shiba holders smile to the bank
While holders of the earlier coins are still smarting from their losses and the bearish nature of the current crypto market, holders of Bitcoin, Ethereum, the two popular meme coins, Dogecoin and Shiba Inu plus holders of Polygon’s Matic and Algorand are raking in the profit.
According to IntoTheBlock, 78% of addresses holding the flagship digital asset are currently in profit. For Ethereum, 86% of its hodlers are in profit while the two meme coins, Shiba Inu and Dogecoin, have 56% and 55% of their holders in profit respectively. 83% of Matic holders are in profit and 77% of Algorand’s holders are in profit.
Interestingly, many of these coins in profit have recently rallied to new highs though they have since lost steam as the wider crypto market is facing a widespread correction.
Posted In: Altcoins, Trading
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