Logo
Cardano Ecosystem

TheCryptoBasic

09/12/2023

·

104 views


Stats Shows Over 95% of Cardano (ADA) Holders in Loss

On-chain data reveals that the vast majority of Cardano (ADA) investors are in a loss. The seventh-largest cryptocurrency by market capitalization, Cardano (ADA), has been one of the hardest hit by bearish...

Stats Shows Over 95% of Cardano (ADA) Holders in Loss

On-chain data reveals that the vast majority of Cardano (ADA) investors are in a loss.

The seventh-largest cryptocurrency by market capitalization, Cardano (ADA), has been one of the hardest hit by bearish market conditions. The price of ADA currently sits at around $0.248. The asset is 92% down from its all-time high of $3.10 recorded in September 2021.

Unsurprisingly, recently published data by crypto analytics platform IntoTheBlock shows that most ADA holders acquired the asset below its current prices.

According to data, 95.69% of ADA investors are currently in the red, apparently remaining hopeful of a trend reversal in the coming months.

On-chain data from @intotheblock shows 95.69% of $ADA holders are currently in the red, creating a tough period for the #Cardano community as prices drop. Will $ADA reach its all-time high (ATH)? Share your thoughts below. #CryptoInsights 💭📉🚀 pic.twitter.com/4CQo1YPKaO

— Crust Bestie |Emmy |🥰 (@Crustbestie) September 12, 2023

- Advertisement -

Regulatory Uncertainty Impacts ADA Growth

Recall that Cardano (ADA) is one of the top cryptocurrencies classified as a security by the United States Securities and Exchange Commission (SEC) in lawsuits against Binance and Coinbase.

Similar to its impact on related assets, the regulatory development saw ADA record a significant decline. The price of ADA dropped from $0.379 to $0.261 within two weeks after the initial lawsuit against Binance.

ADA
ADA Price Chart

The price of Cardano (ADA) has since struggled to recover, albeit riding similar bearish waves as the broader crypto market.

Although a slim hope of recovery has since emerged following Ripple’s victory against the SEC, the pending lawsuits against Binance and Coinbase may have a larger say in Cardano’s long-term price action.

In a related comment, Cardano co-founder Charles Hoskinson recently noted that the project isn’t being targeted by the SEC and only got caught in cross-fire lawsuits.

While in this crossfire, many exchanges delisted ADA. Robinhood, Bakkt, eToro, and Revolut all announced the halt of ADA trading.

Follow Us on Twitter and Facebook.

Disclaimer: This content is informational and should not be considered financial advice. The views expressed in this article may include the author's personal opinions and do not reflect The Crypto Basic’s opinion. Readers are encouraged to do thorough research before making any investment decisions. The Crypto Basic is not responsible for any financial losses.

-Advertisement-

AD

SNEKbot by DexHunter on CARDANO

Cardano's Telegram Trading Bot live on Cardano mainnet!TRADE NOW!


Read Original Article on TheCryptoBasic

ORIGINAL SOURCE

https://thecryptobasic.com/2023/09/12/st...

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.


Genius Yields DEX Launched!

More from TheCryptoBasic

See more
Here’s How Much Cardano You Need to Make $1M If ADA Hits $5 or $12.8
TheCryptoBasic
Here’s How Much Cardano You Need to Make $1M If ADA Hits $5 or $12.8

last Tuesday at 2:34 PM

·

8 views

Related News

See more
Genius Yields DEX Launched!

Featured News

See more



    DEFAULTENGLISH (EN)SPANISH (ES)RUSSIAN (RU)GERMAN (DE)ITALIAN (IT)POLISH (PL)HUNGARIAN (HU)JAPANESE (JA)THAI (TH)ARABIC (AR)VIETNAMESE (VI)PERSIAN (FA)GREEK (EL)INDONESIAN (ID)ROMANIAN (RO)KOREAN (KO)FRENCH (FR)CZECH (CS)PORTUGUESE (PT)TURKISH (TR)