Cardano (ADA), a popular cryptocurrency altcoin, is facing significant challenges. Because the vast majority of addresses are currently in a losing position. In addition, significant difficulties are experienced due to the decrease in transaction volume. In this post, we examine key in-chain metrics that shed light on Cardano’s current state and sentiment among its owners.
Almost 90% of Altcoin Cardano addresses are at loss
Recent data reveals that around 90% of Cardano addresses are lost. Only a small fraction of addresses, about 7.11%, are currently able to sell at profit. In addition, about 3.1% of addresses are able to sell without any profit or loss. This represents a significant increase over the previous figure, corresponding to around 80% of addresses in the loss zone. On the other hand, it shows that the number of losing addresses has increased.
Cardano trading volume dropped sharply
Alongside the loss suffered by Cardano holders, ADA’s trading volume also witnessed a significant drop. After a period of rapid growth, trading volume has declined, reflecting the decline in trading activity on the Cardano network.
The number of large investors continues to fall
The number of large investors holding substantial altcoin ADA on Cardano is dwindling. Recent data reveals that the number has decreased by two addresses in just a few weeks. Currently, about 22.35% of the ADA supply is held by 140 major investors. On the other hand, 9.4% is concentrated in the addresses of the three big whales. The remaining approximately 68% is dispersed among small investors.
The total number of altcoin ADA addresses is growing
Despite the challenging market conditions, the total number of altcoin Cardano addresses continues to increase. Accordingly, over the past 30 days, the average number of altcoin Cardano addresses with ADA balances has reached approximately 4.4 million. This upward trend indicates continued interest and adoption for Cardano within the crypto community.
Telegram sentiment reflects growing negativity
Sentiment towards altcoin Cardano on Telegram, a popular messaging platform, is currently trending towards the negative. Accordingly, in the last seven days, 138 negative messages were received compared to 199 positive days. Also, the number of Telegram users or members in the altcoin Cardano group has been declining in recent weeks.
cryptocoin.com On the face of it, altcoin Cardano is facing a tough time with a significant percentage of addresses in red and a notable drop in transaction volume. Despite these challenges, the total number of ADA addresses continues to grow. On the other hand, this shows that the interest in crypto money continues. It’s important to monitor key metrics on the chain. Because it provides valuable insight into the market sentiment surrounding altcoin Cardano.
Contact us to be instantly informed about the last minute developments. twitter‘in, Facebookin and InstagramFollow on. Telegram And YouTube join our channel!
Risk Disclosure: The articles and articles on Kriptokoin.com do not constitute investment advice. Bitcoin and cryptocurrencies are high-risk assets, and you should do your due diligence and do your own research before investing in these currencies. You can lose some or all of your money by investing in Bitcoin and cryptocurrencies. Remember that your transfers and transactions are at your own risk and any losses that may occur are your responsibility. Cryptokoin.com does not recommend buying or selling any cryptocurrencies or digital assets, nor is Kriptokoin.com an investment advisor. Therefore, Kriptokoin.com and the authors of the articles on the site cannot be held responsible for your investment decisions. Readers should do their own research before taking any action regarding the company, assets or services in this article.
Disclaimer: Advertisements on Kriptokoin.com are carried out through third-party advertising channels. In addition, Kriptokoin.com also includes sponsored articles and press releases on its site. For this reason, advertising links directed from Kriptokoin.com are on the site completely independent of Kriptokoin.com’s approval, and visits and pop-ups directed by advertising links are the responsibility of the user. The advertisements on Kriptokoin.com and the pages directed by the links in the sponsored articles do not bind Kriptokoin.com in any way.
Warning: Citing the news content of Kriptokoin.com and quoting by giving a link is subject to the permission of Kriptokoin.com. No content on the site can be copied, reproduced or published on any platform without permission. Legal action will be taken against those who use the code, design, text, graphics and all other content of Kriptokoin.com in violation of intellectual property law and relevant legislation.