A popular crypto analyst Ali Martinez According to an IntoTheBlock data shared by Cardano (ADA), many addresses bought large amounts of ADA during the period when the price of Cardano (ADA) hovered around $1.
According to IntoTheBlock data shared by Martinez, a total of 757,000 addresses, 37.4 billion dollars at an average cost of 0.91 dollars. Cardano (ADA) bought the token. The lowest cost of these purchases was $ 0.799, while the highest cost was $ 1.04.
While preparing the news Cardano price It was recorded as 0.784 dollars. This reveals that 757,000 investors who bought 37.4 billion tokens made an instant loss. According to a possible scenario, these investors will tend to hold their tokens instead of making a loss. This situation can provide support that can prevent the price decline.
“#Cardano | On-chain data shows that more than 757,000 addresses have purchased approximately 37.4 billion ADA at an average price of $0.91. By keeping #ADA at bay, these market participants may try to break even in the case of a bullish impulse. – Ali Martinez.”
#Cardano | On-chain data shows that more than 757,000 addresses purchased nearly 37.4 billion $ADA at an average price of $0.91.
These market participants may try to break even in the event of a bullish impulse, keeping #ISLAND horse mr. pic.twitter.com/BvRPwMM5lj
— Ali Martinez (@ali_charts) May 3, 2022
Cardano Addresses Are Harmful
Another remarkable piece of data is that the only category that lost money was not wallet owners who bought it in the past week. According to the data, 87.3% (84.24 billion ADA) of all Cardano owners are currently making losses and 12.42%, representing 11.98 billion ADA, are able to generate profits.
Cardano hasn’t really made many smiles after the massive drop in price, but that hasn’t stopped the whales from increasing their position in the ninth-largest cryptocurrency.
According to previously reported news, Cardano caters to holdings between 1 and 10 million ADA, it has bought a total of 196 million ADA in the past five weeks as the price of the cryptocurrency took a huge plunge.
Disclaimer: What is written here is not investment advice. Cryptocurrency investments are high-risk investments. Every investment decision is under the individual’s own responsibility. Finally, Koinfinans and the author of this content cannot be held responsible for personal investment decisions.