Bitrabo Editorial
More than 80% of Cardano (ADA) addresses are currently showing a loss, and several major investors seem to be selling their holdings. Since reaching its all-time high in September of 2021, ADA has been on a downward trend for the past 21 months with only four of those months ending positively.
Over 80% of Cardano Addresses Are in Loss
Currently, 3.67 million Cardano addresses show a loss, accounting for 83% of all Cardano addresses while only 11.44% of addresses can be sold at a profit with a further 4.95% having no gain or loss.
Rapidly Increasing Transactional Volume
Despite the increasing transaction volume, the price of ADA continues to fall, indicating large selling in progress, possibly due to panic selling as the US Securities and Exchange Commission (SEC) recently labelled Cardano as a security in the Binance lawsuit.
Large Investors Drop From 158 to 142
The number of major investors owning ADA has fallen from 158 to 142, representing 3% less of the total token supply and indicates some large investors have sold their tokens to a wider public and that the supply is now owned by retail investors.
Daily Active Addresses Increased Sharply in Last Seven Days
Active ADA addresses have increased by around 41.5% in the last seven days, a signal that the Cardano network is presently very active, shepherding Total Value Locked (TVL) to yearly highs by means of DeFi activities.
Total ADA Addresses Also Continue to Grow
The total number of Cardano addresses is continuously rising, likely due to new investors acquiring Cardano for the first time, though it could also be due to addresses being used for diversification purposes.
Learn more about Cardano staking here.
Twitter Sentiment Towards Cardano Remains Mostly Positive
Except for around 1,500 negative tweets, the mood on Twitter towards ADA is mostly positive, with roughly 12,431 positive tweets.
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Disclaimer
This analysis article is for informational purposes only and should not be considered financial or investment advice, in line with Trust Project guidelines. Although Bitrabo offers accurate and unbiased reporting, market conditions can change without notice. Always conduct your own research and consult with a professional before making any financial decisions.