2023-6-8 19:00 |
Over 80% of Cardano (ADA) addresses are already in the red. Some major investors now seem to be dumping their holdings.
Since its all-time high in September 2021, ADA has been in a continuous downtrend for the past 21 months. Out of these 21 months, the monthly candles of only four months gave a positive close.
Over 80% of Cardano Addresses Are in Loss3.67 million Cardano addresses are currently in a state of loss. These loss-making addresses consist of over 83% of the total Cardano addresses.
Only about 11.44% of addresses would have the opportunity to sell at a profit at the current market price, while about 4.95% could just sell with no profit or loss.
In & Out The Money indicator by IntoTheBlock Rapidly Increasing Transactional VolumeThe development of the transaction volume is proving of interest. While the transaction volume is increasing, the price of ADA is falling. These could indicate that the token is being sold in bulk.
This week, the US Securities and Exchange Commission (SEC) labeled Cardano as a security in the Binance lawsuit. Is the high transactional volume due to panic selling?
Transaction volume of ADA from IntoTheBlock Large Investors Drop From 158 to 142The number of major investors has fallen from 158 to 142. These large investors now account for 3% less of the total token supply. Instead, the supply from large investors is now owned by retail investors.
From this, it can be concluded that some large investors have sold their ADA tokens to a wider public.
Cardano concentration of whales, large investors, and small investors from IntoTheBlock Daily Active Addresses Increased Sharply in Last Seven DaysActive addresses have increased by around 41.5% in the last seven days. The Cardano network is currently very active. In fact, the DeFi activities drove the Total Value Locked (TVL) to yearly highs.
Daily active ADA addresses from IntoTheBlock Total ADA Addresses Also Continue to GrowThe total number of Cardano addresses shows continuous growth. This could be due in part to new investors acquiring Cardano for the first time.
Learn more about Cardano staking here.
However, it could also include addresses used for diversification, with the aim of spreading ADA holdings across multiple wallets.
Number of ADA holders by IntoTheBlock Twitter Sentiment Towards Cardano Remains Mostly PositiveLast but not least, the mood on Twitter towards ADA is mostly positive. Around 1,500 negative tweets are offset by 12,431 positive tweets.
Twitter sentiment on ADA by IntoTheBlockGot something to say about Cardano (ADA) or anything else? Write to us or join the discussion on our Telegram channel. You can also catch us on TikTok, Facebook, or Twitter.
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The post Major Investors Sell-off Cardano. ADA Transaction Volume Is Increasing Rapidly appeared first on BeInCrypto.
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