3M Cardano Addresses in Loss as Crypto Investors Face Losses

3M Cardano Addresses in Loss as Crypto Investors Face Losses

More than 3 million Cardano addresses suffered losses on their ADA holdings at $0.378. The profit and loss of crypto addresses are examined using IntoTheBlock’s Break Even Price indicator. The indicator indicates that 3.12 million addresses are losing money on their $0.378 ADA holdings. The proportion of lost ADA addresses on the Cardano network is 71.07% of all addresses. 

However, according to IntoTheBlock data, 1.16 million addresses—or 26.47% of all Cardano addresses—are currently profitable. Additionally, 107,810 addresses—or 2.46% of all Cardano addresses—represent breakeven. Investors at a break-even pricing are neither making a profit nor a loss. 

Before press time, ADA was trading at about $0.378; it had increased by 0.36% during the previous 24 hours. Data from IntoTheBlock indicates that the prices of $0.379 to $0.388, where more than 125K addresses bought a staggering 3.65 billion, are currently ADA’s next significant resistance area. 

Related Reading: Charles Hoskinson Invites Bitcoin Ordinals to Utilize Cardano Scalable Ecosystem

 Cardano Holders are Not the Only Investors Experiencing Losses

The primary support level for ADA is currently between $0.355 and $0.367, where more than 248K addresses have bought more than 3.7 billion ADA. It’s important to note that ADA owners are not the only investors who have lost money on their cryptocurrency investments. Most crypto assets are currently trading well below their peaks. 

The only choices left to many cryptocurrency investors are to keep holding at a loss or sell their tokens at a loss. Strangely, many investors are confident that the next bull run will see ADA surpass its prior high of $3.09. 

Only one (significant transaction) of the seven signs that IntoTheBlock gives for Cardano displays a bearish signal; the other six are all neutral. The bearish signal for large ADA transactions is understandable, given that traders now perceive the market as dull and that only a few people are willing to invest substantial sums of money. 

Read Also: Record-High Cardano Transaction Fees Reach New Level Since August 2022

Disclaimer: The information in this article should not be considered financial advice, and FXCryptoNews articles are intended only to provide educational and general information. Please consult with a financial advisor before making any investment decisions.

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