Ethereum

Cardano

Coin

<ul class="news-points">
 <li>ADA’s ranking drops to 10th by market cap amid a significant price decrease.</li>
 <li>Only 35% of ADA holders are currently in profit, contrasting with BTC and ETH.</li>
 <li>ADA’s on-chain activity declines, reflecting reduced engagement amidst the price drop.</li>
</ul>
Cardano (ADA), a layer-1 blockchain network, is facing a challenging period as its price continues to drop and its market ranking declines. Notably, ADA is now ranked as the tenth largest cryptocurrency by market cap, following a huge decrease in value. In the last month alone, <a href="https://coinmarketcap.com/currencies/cardano/" target="_blank" rel="noopener noreferrer nofollow">ADA’s price has fallen</a> by 28%, and it has seen a nearly 22% drop year-to-date, according to CoinMarketCap.
Moreover, recent data from IntoTheBlock shared on X reveals that only about 35% of ADA holders are currently in profit. This contrasts starkly with other major cryptocurrencies like Bitcoin (BTC) and Ethereum (ETH), where 86% and 81% of holders, respectively, are seeing profits. The situation has led to increased scrutiny of Cardano’s near-term demand potential as more investors are facing losses.
<figure class="wp-block-embed aligncenter is-type-rich is-provider-twitter wp-block-embed-twitter">
 <div class="wp-block-embed__wrapper">
 <blockquote class="twitter-tweet" data-width="550" data-dnt="true">
 The chart below shows the percentage of holders in profit on several top layer 1 networks <img src="https://s.w.org/images/core/emoji/14.0.0/72x72/1f447.png" alt="👇" class="wp-smiley" style="height: 1em; max-height: 1em;"> Bitcoin remains king, with <a href="https://twitter.com/search?q=%24TRX&amp;src=ctag&amp;ref_src=twsrc%5Etfw" target="_blank" rel="noopener noreferrer nofollow">$TRX</a> being a close sec…
 </blockquote>
 </div>
</figure>
The post <a href="https://coinedition.com/cardanos-ada-faces-market-downturn-amid-whales-reluctance-to-invest/" rel="noopener noreferrer nofollow">Cardano’s ADA Faces Market Downturn Amid Whales’ Reluctance to Invest</a> appeared first on <a href="https://coinedition.com" rel="noopener noreferrer nofollow">Coin Edition</a>.

Cardano’s ADA Faces Market Downturn Amid Whales’ Reluctance to Invest

Coin Edition

Other articles published on Apr 26, 2024

Analyst Deems Investing in Ethereum (ETH) ‘So Stupid,’ Recommends Better Crypto to Invest In

Lawsuit Traffic Doesn't End: SEC Sues Another Bitcoin Company! Here's Why!

EU Funds Major Consortium for AI-Powered Battleground Imaging and Threat Detection

Impact of US Economic Performance on Cryptocurrency Markets

Bank Of Japan Interest Rate Unchanged, Inflation Outlook Surges

NEAR Protocol Price Prediction: NEAR Surges 10% As This New AI Meme Coin ICO Soars Towards $400K

Join our free newsletter for daily crypto updates!