Cardano (ADA) Price Struggles: Over 90% of Addresses in Losing Positions, Transaction Volume Slumps

2023-7-2 18:00

Almost 90% of Cardano addresses are already in the red. In addition, the Cardano transaction volume is falling sharply, as is the number of active addresses.

BeInCrypto looks at some key on-chain metrics indicating Cardano holders are feeling the pinch.

Around 90% of Cardano Addresses Are Losing

Around 90% of Cardano addresses are currently in the red. Just under 7.11% of addresses could sell at a profit at the current market price, while around 3.1% could sell without profit or loss.

In & Out The Money indicator by IntoTheBlock

Previously, the number of addresses in the loss zone was still around 80%. Accordingly, the number of loss-making addresses is steadily increasing.

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Cardano Transaction Volume Decreases Sharply Cardano Transaction volume of ADA from IntoTheBlock

The cardano transaction volume has also fallen drastically again after having previously risen sharply.

The Number of Large Investors Continues to Fall

The number of large investors also continues to decrease, as it has fallen by two addresses within the past few weeks.

Cardano concentration of whales, large investors and small investors from IntoTheBlock

Around 22.35% of ADA Supply is currently in the hands of 140 major investors. 9.4% are in the addresses of three whales, whereas the majority, around 68%, is distributed among small investors.

The Number of Daily Active Addresses Has Decreased by 100%

The number of active addresses has halved in the last seven days. 

Daily active ADA addresses from IntoTheBlock

They’re down 100%, according to data from IntoTheBlock. New addresses and addresses without ADA coins are also affected.

The Total Number of ADA Addresses Continues to Increase

However, the total number of Cardano addresses still shows an upward trend. 

Number of ADA Holders by IntoTheBlock

In the last 30 days, the average number of Cardano addresses with ADA balance was around 4.4 million

The Telegram Sentiment Towards Cardano Is Currently Balanced

The negative news is currently increasing instead of predominantly positive sentiment on Telegram.

Telegram Sentiment on ADA by IntoTheBlock

There have been 199 positive days and 138 negative messages in the last seven days. The number of Telegram users or members of the Cardano group has also been showing a downward trend for a few weeks.

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The post Cardano (ADA) Price Struggles: Over 90% of Addresses in Losing Positions, Transaction Volume Slumps appeared first on BeInCrypto.

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addresses transaction cardano volume slumps ada price

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